Key regions: India, France, United States, Canada, Denmark
The Home Décor market in China has been experiencing significant growth in recent years, driven by changing customer preferences and favorable macroeconomic factors.
Customer preferences: in the Home Décor market in China have shifted towards more modern and minimalist designs, as consumers seek to create a clean and organized living space. This trend is influenced by global design trends and the growing influence of social media, where consumers are exposed to a wide range of home décor ideas from around the world. Additionally, Chinese consumers are becoming more environmentally conscious and are increasingly opting for sustainable and eco-friendly home décor products. One of the key trends in the Home Décor market in China is the increasing popularity of online shopping. Chinese consumers are embracing e-commerce platforms, such as alibaba's Tmall and jd. com, which offer a wide range of home décor products at competitive prices. The convenience of online shopping, coupled with the ability to compare prices and read customer reviews, has made it a preferred choice for many consumers. This trend has also been accelerated by the covid-19 pandemic, which has led to a surge in online shopping across all sectors. Another trend in the Home Décor market in China is the growing demand for smart home devices. Chinese consumers are increasingly adopting smart home technology, which allows them to control various aspects of their home, including lighting, temperature, and security, through their smartphones or voice assistants. This trend is driven by the desire for convenience and efficiency, as well as the growing awareness of energy conservation and sustainability. Local special circumstances in the Home Décor market in China include the influence of traditional Chinese culture and the importance of feng shui in home design. Chinese consumers often incorporate elements of traditional Chinese culture, such as calligraphy, porcelain, and traditional furniture, into their home décor. Additionally, feng shui, the ancient Chinese practice of arranging furniture and objects to create harmonious energy flow, plays a significant role in home design decisions. Underlying macroeconomic factors, such as rising disposable incomes, urbanization, and a growing middle class, have also contributed to the growth of the Home Décor market in China. As more Chinese consumers move to urban areas and experience higher incomes, they have more discretionary income to spend on home décor products. The growing middle class, in particular, is a key driver of demand for higher-end and luxury home décor products. Overall, the Home Décor market in China is witnessing significant growth, driven by changing customer preferences, the rise of e-commerce, the adoption of smart home technology, and favorable macroeconomic factors. As these trends continue to evolve, it is expected that the market will continue to expand in the coming years.
Data coverage:
Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.
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