Furniture Stores in Canada - Industry Market Research Report

Furniture Stores in Canada - Industry Market Research Report
Furniture Stores in Canada

The Furniture Stores industry in Canada experienced volatile conditions over the past five years as economic disruptions affected supply chains and consumer behavior. However, an overall increase in the number of housing starts and per capita disposable income contributed to the industry's growth. Although the coronavirus had significant negative effects on the economy as a whole, the unique conditions brought by the coronavirus ended up being to the benefit of furniture stores in Canada. As consumers spent more time at home they invested in home furniture, increasing demand for the industry's largest product segment. As a result, industry revenue increased significantly in 2020 alone before decreasing slightly in 2021. However, the decrease in 2021 was primarily just in response to the large increase of 2020. Overall, industry revenue is expected to have increased at a CAGR of 3.5% to $26.1 billion over the past five years, including a decrease of 3.0% in 2023 alone.

The Furniture Stores industry in Canada sells household, outdoor and office furniture, except those sold in combination with office supplies and equipment. This includes living room, dining room and bedroom furniture, upholstered furniture, desks and home office goods, lamps, recliners, rugs and outdoor pieces.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.