By Alan Wolf, YSN
Following a soft year marked by mandated store closures and inventory constraints, the furniture and bedding business is poised to make up for lost time over the next five years.
According to a report by FurnitureToday, the U.S. furniture and bedding market is expected grow 24.4 percent by 2025, hitting $143 billion in sales that year.
That’s a far cry from 2020, when furniture and bedding sales edged up just 0.6 percent for a projected year-end haul of $115.2 billion.
The forecast, based on data from the U.S. Commerce Department and developed by FurnitureToday and Easy Analytic Software, suggests that stationary chairs will lead the sales charge over the next five years, with sell-through jumping nearly 30 percent, from $2.4 billion in 2020 to $3.1 billion in 2025.
Desks should also see rapid growth over the period, as remote work continues to gain popularity as an accepted alternative to commuting. According to FurnitureToday, desks will likely see the second-highest growth of all furniture and bedding categories, with sales soaring 25.5 percent through 2025 and sell-through hitting the $7 billion mark.
While total furniture and bedding sales are projected to grow 24.4 percent by 2025, 18 states are expected to exceed that figure, led by Utah (growing an estimated 28.2 percent) and Idaho (anticipated to grow 27.2 percent) as Americans flock to the West and South.