Industry Analysis & Industry Trends
In the five years to 2014, the Home Furnishing Stores industry began to recover from the housing market collapse and recession. Declining per capita disposable income, falling consumer confidence and the collapse of the domestic housing market negatively affected revenue for industry operators. Moreover, the industry's decline was perpetuated by heightened internal and external competition, which further decreased industry profitability. Over the five years to 2019, however, the industry will experience better results. This is because continued economic improvements will likely boost overall consumer spending, encouraging increased consumption of home furnishing products. In addition, surges in home ownership levels are projected to drive demand further... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Home Furnishing Stores industry is in the mature stage of its life cycle. Over the 10 years to 2019, industry value added, which measures the industry's contribution to GDP, is forecasted to increase at an annualized rate of 2.8%, which is similar to GDP's growth of 2.7% per year over the same 10-year period. Growth so close to GDP growth is usually a sign of a mature industry. In general, demand for home furnishings relies on macroeconomic factors such as income levels and the state of the housing markets. Consequently, industry performance typically reflects the overall economic trend.
Both the recession and a severe reduction in household expenditure have resulted in lost revenue for many home-furnishing stores... purchase to read more