LONDON–(BUSINESS WIRE)–$WSM #ChildrensFurniture–According to the latest market study released by Technavio,
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.
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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
- 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
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.
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.
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
- Ashley Furniture HomeStores
- Berkshire Hathaway
- Rooms To Go
Browse Related Reports:
Furniture Market in the US 2016-2020
Luxury Furniture Market 2015-2019
Office Furniture Market 2016-2020
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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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