Increasing Popularity of Specialty and Lifestyle Furniture Stores Will Expedite the Children’s Furniture Market in the US Through 2020, Reports Technavio

LONDON–(BUSINESS WIRE)–$WSM #ChildrensFurniture–According to the latest market study released by Technavio,
the children’s
furniture market in the US
is expected to grow at a CAGR
of 4.52% during the forecast period.

This research report titled ‘Children’s
Furniture Market in the US 2016-2020
’ provides an in-depth
analysis of the market in terms of revenue and emerging market trends.
This market research report also includes up to date analysis and
forecasts for various market segments and all geographical regions.

Request sample report: http://goo.gl/4Sbt7s

The report categorizes the children’s furniture market in the US into
five distribution channel segments. They are:

  • Traditional furniture stores
  • Specialty furniture stores
  • Hypermarkets, supermarkets, department stores, and club houses
  • E-retailers
  • Other retailers

Traditional furniture stores

The sale of children’s furniture through traditional furniture stores in
the US generated revenue of USD 2.86 billion in 2015, and this will
likely reach USD 3.08 billion by 2020. This distribution channel will
likely see slow year-over-year growth over the next five years. This is
primarily on account of the mature nature of the market.

Some popular traditional stores for children’s furniture in the US
market include Ashley Furniture HomeStore, La-Z-Boy, Berkshire Hathaway
(Jordan’s Furniture and Nebraska Furniture Mart), Rooms To Go, Raymour &
Flanigan, and Ethan Allen.

Specialty furniture stores

The increasing popularity of specialty and lifestyle furniture stores
has driven the growth of this market segment. The segment’s revenue
share is likely to grow by 2.5% by 2020.

According to Brijesh Kumar Choubey, a lead analyst at Technavio for general
retail goods and services
, “Opening their own retail outlets
enables manufacturers and distributors to plan their budgets for
marketing, advertising, promotions, brand building, training, and IT
support. The effective use of these allows them to reach out to
consumers better than when depending on independent retailers to sell
their products.”

Hypermarkets, supermarkets, department stores, and club houses

The sale of children’s furniture through hypermarkets, supermarkets,
department stores, and club houses is projected to grow at a CAGR of
5.12%. This distribution channel is the third-largest contributor in the
children’s furniture market in the US. Business expansion and the
increasing number of stores of major retailers in these formats have
propelled sales growth in this channel.

“Some of the major hypermarkets and discount stores selling children’s
furniture in the US market include Walmart and Target. Major department
stores include JC Penney and Macy’s, and key club houses are Costco
Wholesale and Sam’s Club,” says Brijesh.

E-retail

Increased internet penetration, a rise in smartphone use, and changing
patterns of buying behavior among consumers as more people prefer online
retail, are some of the major factors that drive the growth of this
segment. With 200 million digital buyers generating more than USD 340
billion in the overall online retail market in the US in 2015,
e-marketers see this channel as a significant growth area for the
furniture segment over the next five years. Internet penetration in the
country reached more than 85% in 2015, and this has enabled a large
section of consumers to gain access to online retail platforms. This
segment’s revenue share is likely to grow by 1.5% by 2020.

Other retailers

Retailers in this segment include:

  • DIY and home improvement stores
  • Furniture rental stores
  • Bedding stores that sell children’s furniture

The competitive product pricing and increasing availability of
children’s furniture items through these retailers have driven market
growth in this segment. This segment’s market share is expected to grow
by 0.5% by 2020.

Some of the popular DIY stores selling children’s furniture in the US
market are Home Depot and Lowe’s; rental stores include Aaron’s; and
bedding stores include Sleepy’s, Mattress Firm, and Sleep Train.

The top vendors highlighted by Technavio’s research analysts in this
report are:

  • Ashley Furniture HomeStores
  • Berkshire Hathaway
  • IKEA
  • Rooms To Go
  • Williams-Sonoma

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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