Changes In Furniture Styles and Desires
Another massive change in the industry has been caused by IKEA and other flat box companies. Consumers are buying lower cost alternatives and putting them together at home. While this may seem to reduce overall spending in the furniture industry, the opposite is actually true. More buyers who could not afford quality furniture previously are now making purchases increasing overall sales.
The biggest change in the industry may be happening in mid-range priced furniture. Buyers are tending to choose low-cost options from online stores, flat-box sellers, and other retailers if they are working on a tight budget. Other shoppers skip the mid-range options and choose to go with the highest quality furniture. This is one of the reasons many small town furniture stores and family-owned stores are struggling. Their prime mid-range customer is choosing new options.
The Future Of The Furniture Industry
We are probably already seeing the future of the furniture industry by looking at the mattress sector. Online sellers are gaining strength and providing what younger buyers want, convenience. This trend will lead to more furniture manufacturers focusing to increase online sales and to ship directly to the customer, instead of to their stores.
This may spell challenges ahead for retail locations, but the overall furniture industry should remain strong. Of course, none of us can predict what will happen over the next few years with certainty.