Industry Analysis & Industry Trends
The widespread acceptance of internet shopping has contributed to rapid industry growth over the past five years. The Online Household Furniture Sales industry is forecast to grow by 15.7% in 2015-16 to reach $418.7 million. Although the high growth rate is influenced by a low base year, the industry has still performed very well, as Australians have gravitated towards online stores to search for and purchase household furniture. Lower prices, the ability to conveniently compare products and increased transaction security are factors that have contributed to the rise in industry sales. Consequently, industry revenue has grown by an annualised 20.4% over the past five years.
Pure-play online furniture retailers (i.e... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Online Household Furniture Sales industry is in the growth stage of its life cycle. The industry's contribution to the economy (industry value added) is forecast to increase at an annualised 13.3% over the 10 years through 2020-21. Meanwhile, the Australian economy is expected to grow at a slower rate, with GDP forecast to increase at an annualised 2.6% over the same period. This indicates that the industry is growing at a faster pace than the overall economy.
New players are rushing into selling furniture online. Similarly, traditional furniture retailers are developing their online presence to take advantage of the strong demand and their existing supply chains, while stemming the competition from online players... purchase to read more