The furniture and home furnishings industry comprises retailers, manufacturers, and distributors of furniture and related products. Typical inventory includes upholstered goods (couches, chairs, recliners), wooden furniture (dining room and bedroom sets), case goods (end tables, decorative pieces), and office furniture.
Home ownership is an important factor driving sales of furniture and home furnishings; as ownership levels rebound from the housing crisis, consumer demand has increased, with aging baby boomers driving demand for higher-end products.
Going forward, leading players in the U.S. retail-furniture industry will likely concentrate on product innovation and environmentally friendly goods. However, companies like Restoration Hardware, Williams Sonoma, and Pottery Barn face competition from off-price retailers like TJX’s HomeGoods and HomeSense concepts, mass merchants such as Walmart and Target, department stores, and online players such as Wayfair.com.