The report titled “Australia
Furniture Market Outlook to 2022 - By Residential (Bedroom, Living Room,
Kitchen, Home Office Furniture, Dining Room, Storage Furniture and Other
Residential Furniture), Hospitality and Commercial Furniture, by Home
Furnishing (Indoor, Outdoor and Lighting)” provides a comprehensive
analysis of the furniture market in Australia. The report focuses on the home
furniture product segments of the industry. The report covers aspects such as
market size in consumer expenditure, Australia furniture market segmentation by
end users (Residential, Hospitality and Commercial), major cities (Sydney,
Melbourne, Perth, Brisbane, Adelaide, Auburn, Gold Coast, New Castle and
Canberra), by Organized and Unorganized sector, by home furnishing (Indoor,
Outdoor and Lighting), by distribution channel (Homewares and Home Furnishing
Stores, Home Improvement and Gardening Stores, Department Stores, Mass
Merchandisers, Internet Retailing, Supermarkets, Variety Stores, Warehouse
Clubs and others). The publication also includes competitive landscape, which
discusses the major market players (Harvey Norman, Freedom, Fantastic, Nick
Scali, IKEA, Pacific Furniture and Linen House) along their product portfolio.
The reports also provides in depth case studies for setting up modular kitchen
and home furniture in Australia. Furthermore, the report includes snapshot on
the online furniture and used furniture market. The future analysis of overall
Australia Furniture Market has also been discussed along with recommendations
from analyst view.
This report will help the readers to identify the ongoing trends
in the industry and anticipated growth in future depending upon changing
industry dynamics in coming years.
The report is useful for furniture retailers, Used Furniture
Companies, Modular Kitchen Companies, Contract Furniture Manufacturers, Online
Furniture companies, investors, potential entrants and other stakeholders to
align their market centric strategies according to ongoing and expected trends
in the future.
Australia Furniture Market Size and Overview
The furniture market of Australia witnessed growth at a CAGR of
3.0% during the period 2012-2017. Rise in number of furniture manufacturers and
retail outlets largely contributed to the growth in market revenues.
Furthermore, rise in urbanization generated increased demand for furniture from
residential, hotels, office and industrial sectors during the period.
Additionally, increasing awareness among the customers about online sales and
e-commerce portals for furniture along with the expansion in services of
e-retailers including Pottery Barn, Zanui and others has also been a
significant factor which has positively impacted Australia furniture market
during recent years.
Australia Furniture Market Segmentation
By End Users: Residential furniture therefore dominated the
overall Australia furniture market in 2017, followed by commercial and
hospitality sector. Retailers existing in the space catered to the varied
requirements across all categories of end users. The growing number of urban
household coupled with change in customer preference for stylish and modern
furniture boosted the demand for residential furniture. Growing demand for
housing structures was the major reason behind the augmented demand for
furniture in the country.
By Product Categories in Home Furniture: There has been a rapid
growth in real estate sector due to the demand for residential property in the
country. Bedroom furniture was the highest selling product category in home
furniture segment as of 2017, followed by living room furniture, kitchen
furniture, home office furniture, dining room furniture, storage furniture and
all other residential furniture.
By Organized and Unorganized Sector: Unorganized sector dominated
the market, in terms of large number of unorganized manufacturers operated in
the country in 2017. Lower cost of production by using the locally available
resources assists unorganized retailers in selling products at a lower price
than the one sold by established companies with multiple retail outlets in
Australia.The increasing demand for the branded products among the customers
due to rising income level has led to the growth of organized retailers in the
country.
By Type of Office Furniture: Workstation furniture dominated the
office furniture market on the basis of consumer expenditure followed by office
chair, office table and office storage. Office/ Commercial furniture space is
governed by players specializing in designing, manufacturing and supplying
modular furniture for schools, government institutions, offices, and aged care.
Major companies involved in office furniture are DDK Commercial Furniture, BFX
Australia, IKEA, Etsy Australia, Buy direct online, Workspace Australia,
Burgtec, Woods furniture Australia, House of Home Australia, Kmart and others.
Snapshot on Australia Online Furniture Market
Sales for furniture in Australia have been dominated by offline
retail outlets, franchisee outlets, showrooms and exclusive stores of
manufacturers and major players operating in the space. Despite of the presence
of approximately 20.67 million internet users i.e. a penetration rate of over
85.1% in the country during 2016, online sales of furniture contributed poorly
to the overall market revenues during the same year. Online players faced stiff
competition from brick and mortar stores all across the country, which offered
a wide variety of products at competitive prices. Most of the companies selling
via online channel had at least one offline store and are yet to register significant
traffic and product orders through online in the country. The major players
which have dominated the revenues of online furniture sales in 2016 are Brosa,
Fantastic Furniture, Pottery Barn, Zanui and others.
Competitive Landscape
The top 7 leading home furniture and furnishing players are Harvey
Norman, Freedom Furniture, Fantastic Holdings, Nick Scali, IKEA, Pacific
Furniture and Bedding and Linen House which holds the largest market share. The
companies compete on the basis of product spread, price range, number of
stores, geographical locations, best selling product. Companies are focusing on
increasing their number of stores as they want to reach out maximum potential
customers and increase the walk-ins in their stores. Companies are focusing on
extending their leadership positions that can be connected to customers at
anytime and anywhere and increase customer experience
Australia Furniture Market Future Outlook and Projections
The furniture market is expected to grow at an impressive rate
during 2018-2022. Rise in domestic as well export demand of furniture products
is anticipated to result in market growth. Since tourism based enterprises such
as hotels, restaurants, museums and leisure service providers face growing
needs to update their amenities; the demand for unique furniture items is
expected to rise sharply. Apart from the robust hotel sector, construction of
more condominiums and residential houses in the country is expected to drive
the growth of the industry in the coming years. Opening of more number of
stores by companies in different locations and increase in the product listing
will also drive the growth of the furniture market.
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