Global bedroom furniture market report: outlook and forecasts 2023-2028 (2023)

MarketWatch's news department was not involved in the creation of this content.

04.04.2023 (O Expresswire) --A comprehensive 2023 growth survey: “bedroom furniture market“ | Research with 126-page report

"Bedroom Furniture Market" global research report provides a comprehensive analysis of various market dynamics in the parent industry which enables companies to make informed decisions and formulate development strategies based on the opportunities present in the market. The report provides an assessment of the market performance of major vendors in different regions along with company profile, growth aspects, opportunities and threats for market development. By evaluating the global data on the actual and potential market situation, the report provides insight into future market trends that will help companies achieve their goals. Analysts and industry experts provide valuable insight into future prospects that help companies make informed decisions and stay ahead of the competition. Overall, this report provides a valuable resource for companies wanting to understand the bedroom furniture market and take advantage of the opportunities available.

Additionally, this report examines key industry segments by type [Furniture for sitting, sleeping or lying down], forms [Fourth adult, fourth teenager] and regions, highlighting important aspects such as market size, share, trends and key drivers with the help of SWOT and PESTLE analysis. Additionally, this research report provides insights into pricing strategies, business statistics, supply chains and technological advances during the forecast period, giving companies a deeper understanding of the industry's complexities and opportunities.

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Some of the prominent players examined in the research report are:

● Ashley Furniture
● Kincaid Furniture
● Tropitone Furniture
● Century furniture
● Pulaski Furniture
● Hillsdale Furniture
● Abbyson's life
● Whore furniture
● Legend furniture

Report scope:

The report combines comprehensive quantitative analysis and comprehensive qualitative analysis, ranging from macro overview of the overall market size, industry chain and market dynamics to micro details of the segment markets by type, application and region, thus providing a holistic view as well as an in-depth look at the Boswellia Market covering all the essentials.

For the competitive landscape, the report also introduces the industry players from the point of view of market share, concentration ratio, etc. the competitive situation. It also considers mergers and acquisitions, trends in emerging markets, the impact of COVID-19 and regional conflicts.

In short, this report is a must-read for industry players, investors, researchers, consultants, business strategists, and anyone with any kind of stake or planning to enter the market in any way.

Get a Sample Copy of Bedroom Furniture Market Report

Market insights and analysis:

The global bedroom furniture market size is estimated at USD 265,166.6 million in 2022 and is expected to grow at a CAGR of 4.45% during the forecast period to reach USD 344,326.69 million in 2028.
Bedroom furniture refers to the furniture that is placed in the bedroom. Bedroom furniture includes, but is not limited to, beds, mattresses, wardrobes, bedside tables and bedding.

The Bedroom Furniture market report provides companies with a wealth of valuable information and a comprehensive view of current trends, market size, recent developments, and new opportunities. This report is a must-have resource for any company wanting to better understand the industry, with analysis of historical and future growth and costs, revenue, demand and supply data. By providing detailed information on the scope and application of the market, this study increases understanding and facilitates strategic decision making. For companies of all sizes, the Bedroom Furniture market report is a crucial tool in clarifying product development, marketing strategies, and overall business growth. With its valuable insights and analysis, this report can help companies stay ahead in a highly competitive industry.

Industry segment by type:

● Sitting furniture
● Furniture for sleeping or lying down
● the table
● storage furniture
● Furniture sets

Industry segment by application:

● Fourth adult
● youth room
● Children's room

To understand how the impact of Covid-19 is addressed in this report-

Regional Perspectives:

The market has been segmented into several key regions includingNorth America, Europe, Asia Pacific, South America. Detailed analysis of key countries such asUS, Germany, UK, Italy, France, China, Japan, South Korea, Southeast Asia and Indiaare covered within the regional segment.

Main Drivers and Obstacles:

Key rendering factors and drivers have been examined in this report to help readers understand the overall development. In addition, the report includes limitations and challenges that can act as obstacles in the way of players. This helps users pay attention and make informed business-related decisions. Experts also focused on future business prospects.

Inform yourself or share your concerns, if any, before purchasing this report -

The following questions are answered in the Bedroom Furniture report:

non-client focus
1. Does this report consider the impact of COVID-19 and the war between Russia and Ukraine on the bedroom furniture market?
Yes. As COVID-19 and the Russia-Ukraine War are profoundly affecting global supply chain relations and the commodity pricing system, we definitely consider them throughout the research and in Chapters 1.7, 2.7, 4.X.1, 7.5, 8.7 we go into detail about the impact of the pandemic and war on the bedroom furniture industry.

2. How do you determine the list of stakeholders included in the report?
With the aim of shedding light on the competitive situation in the industry, we specifically look at not only the leading companies that have a global voice, but also the regional mid-sized companies that play a key role and have a lot of growth potential.

3. What are your most important data sources?
Primary and secondary data sources are used in report creation.
Primary sources include extensive interviews with key thought leaders and industry experts (such as senior frontline employees, directors, CEOs, and marketing executives), downstream distributors, and end users.

Secondary sources include research on annual and financial reports of major companies, public archives, new magazines, etc. We also work with some third-party databases.

4. Can I change the scope of the report and adapt it to my needs?
Yes. High-quality, multi-dimensional, deep-level customized requirements can help our customers accurately understand market opportunities, easily meet market challenges, correctly formulate market strategies, and act in a timely manner, giving them enough time and space to the competition in the market.

Buy this report (price $3250 for a single user license) -

Detailed TOC of bedroom furniture market forecast report 2023-2028:

1 bedroom furniture market overview

1.1 Product Overview and Market Scope of Bedroom Furniture

1.2 Bedroom Furniture Market Segment by Type

1 Global Bedroom Furniture Sales Volume and Comparison CAGR (%) by Type (2018-2028)

1.3 Global Bedroom Furniture Market Segment by Application

1.3.1 Market Consumption Comparison (Sales Volume) by Application (2018-2028)

1.4 Global Bedroom Furniture Market, Regional (2018-2028)

1.5 Global Bedroom Furniture Market Size (2018-2028)

1.5.1 Global Bedroom Furniture Market Revenue Status and Outlook (2018-2028)

2 Global Bedroom Furniture Market Status and Outlook (2018-2028)

1.6 Global Macroeconomic Analysis

1.7 The Impact of the Russo-Ukrainian War on the Bedroom Furniture Market

2 Industry Perspectives

2.1 Technology status and trends in the bedroom furniture industry

2.2 Barriers to entry into the industry

2.2.1 Analysis of financial barriers

2.2.2 Analysis of technical barriers

2.2.3 Analysis of talent barriers

2.2.4 Analysis of brand barriers

2.3 Bedroom Furniture Market Driver Analysis Analysis

2.4 Analysis of the challenges of the bedroom furniture market

2.5 Trends in Emerging Markets

2.6 Analysis of consumer preferences

2.7 Bedroom Furniture Industry Development Trends During the COVID-19 Outbreak

2.7.1 Overview of the global status of COVID-19

2.7.2 Influence of the COVID-19 outbreak on the development of the bedroom furniture industry

3 Global Bedroom Furniture Market Scenario by Player

3.1 Global Bedroom Furniture Sales Volume and Share by Player (2018-2023)

3.2 Global Bedroom Furniture Revenue and Market Share by Player (2018-2023)

3.3 Global average price of bedroom furniture per player (2018-2023)

3.4 Global Bedroom Furniture Gross Margin by Player (2018-2023)

3.5 Competitive situation and trends in the bedroom furniture market

3.5.1 Bedroom Furniture Market Concentration Rate

3.5.2 Bedroom Furniture Market Share of Top 3 & Top 6 Players

3.5.3 Mergers and Acquisitions, Expansion

4 Global Bedroom Furniture Sales Volume and Revenue by Region (2018-2023)

4.1 Global Bedroom Furniture Sales Volume and Market Share, Regional (2018-2023)

4.2 Global Bedroom Furniture Revenue and Market Share, Regional (2018-2023)

4.3 Global Bedroom Furniture Sales Volume, Revenue, Price and Gross Margin (2018-2023)

4.4 Bedroom Furniture Sales Volume, Revenue, Price and Gross Margin in the United States (2018-2023)

4.4.1 United States Bedroom Furniture Market Under COVID-19

4.5 Bedroom Furniture Sales Volume, Revenue, Price and Gross Margin in Europe (2018-2023)

4.5.1 European bedroom furniture market under COVID-19

4.6 Bedroom Furniture Sales Volume, Revenue, Price and Gross Margin in China (2018-2023)

4.6.1 Bedroom Furniture Market in China under COVID-19

4.7 Bedroom Furniture Sales Volume, Revenue, Price and Gross Margin in Japan (2018-2023)

4.7.1 Bedroom Furniture Market in Japan under COVID-19

4.8 Bedroom Furniture Sales Volume, Revenue, Price and Gross Margin in India (2018-2023)

4.8.1 Bedroom Furniture Market in India under COVID-19

4.9 Bedroom Furniture Sales Volume, Revenue, Price and Gross Margin in Southeast Asia (2018-2023)

4.9.1 Southeast Asia Bedroom Furniture Market Under COVID-19

4.10 Bedroom Furniture Sales Volume, Revenue, Price and Gross Margin in Latin America (2018-2023)

4.10.1 Latin American Bedroom Furniture Market under COVID-19

4.11 Bedroom furniture sales volume, revenue, price and gross margin in the Middle East and Africa (2018-2023)

4.11.1 Bedroom Furniture Market in Middle East and Africa under COVID-19

5 Global Bedroom Furniture Sales Volume, Revenue & Historical Price by Type

5.1 Global Bedroom Furniture Sales Volume and Market Share by Type (2018-2023)

5.2 Global Bedroom Furniture Revenue and Market Share by Type (2018-2023)

5.3 Global Bedroom Furniture Price by Type (2018-2023)

5.4 Global Bedroom Furniture Sales Volume, Revenue and Growth Rate by Type (2018-2023)

6 Global Bedroom Furniture Market Analysis by Application

6.1 Global Bedroom Furniture Revenue Market Share by Application (2018-2023)

6.2 Global Bedroom Furniture Consumption Revenue and Market Share by Application (2018-2023)

6.3 Global Bedroom Furniture Consumption and Growth Rate by Application (2018-2023)

7 Global Bedroom Furniture Market Forecast (2023-2028)

7.1 Global Bedroom Furniture Sales Volume, Revenue Forecast (2023-2028)

7.1.1 Global Bedroom Furniture Sales Volume Forecast and Growth Rate (2023-2028)

7.1.2 Global bedroom furniture sales forecast and growth rate (2023-2028)

7.1.3 Global bedroom furniture price forecast and trends (2023-2028)

7.2 Global Bedroom Furniture Sales Volume and Sales Forecast, Regional (2023-2028)

7.3 Global Bedroom Furniture Sales Volume, Revenue and Price by Type (2023-2028)

7.4 Global Bedroom Furniture Consumption Forecast by Application (2023-2028)

7.5 Bedroom Furniture Market Forecast Under COVID-19

Upstream and downstream analysis of the 8 bedroom furniture market

8.1 Bedroom Furniture Industry Chain Analysis

8.2 Main Raw Material Suppliers and Price Analysis

8.3 Analysis of the Manufacturing Cost Structure

8.3.1 Labor cost analysis

8.3.2 Energy cost analysis

8.3.3 RandD cost analysis

8.4 Alternative Product Analysis

8.5 Leading Bedroom Furniture Review Distributors

8.6 Analysis of the main downstream buyers of bedroom furniture

8.7 Upstream and downstream impact of COVID-19 and the Russia-Ukraine War on the bedroom furniture industry

9 player profiles

10 Research Findings and Conclusion

11 Appendix

11.1 Methodology

11.2 Research Data Source

For a detailed summary -

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Global bedroom furniture market report: outlook and forecasts 2023-2028? ›

The global furniture market is expected to grow at a CAGR of about 5.2% in the forecast period of 2023-2028, driven by the growing infrastructure and hospitality sectors.

What is the furniture industry outlook for 2023? ›

Revenue in the Furniture market amounts to US$252.70bn in 2023. The market is expected to grow annually by 3.95% (CAGR 2023-2027). The market's largest segment is the segment Living Room Furniture with a market volume of US$70.61bn in 2023.

Will furniture prices go down in 2023? ›

Despite this recent positivity, the impact of interest rate hikes and a dampened housing market will hit furniture sales in 2023, and GlobalData forecasts a 2.8% dip in the furniture market—with inflation masking the fall in volumes.

What is the future of the furniture industry? ›


The global furniture market size was USD 475.4 billion in 2020 and is projected to grow from USD 493.6 billion in 2021 to USD 720.2 billion by 2028 at a CAGR of 5.5% in the 2021-2028 period.

What is the global furniture market forecast? ›

According to a research report published by SphericalInsights, the Global Furniture Market Size was valued at USD 548.38 billion in 2021 and expected to reach USD 780.8 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period.

What consumer product trends will emerge in 2023? ›

If you want to learn about important global consumer trends to watch for the next 2-3 years, read on.
  • Consumers Demand Control of their Data. ...
  • Augmented Reality Enhances the Customer Experience. ...
  • Voice Commerce Becomes Starting Point for Purchases. ...
  • Digital Wallets and Biometric Payment Usage on the Rise.
Mar 21, 2023

What retail trend is predicted for 2023? ›

It looks like retail sales will continue to be challenging in the first half of 2023. The BRC predicts retail sales will edge up between 1% and 2.3% in the first six months of year. However, the trade body forecasts a brighter second half, with retail sales expected to grow 3.6% to 4.7%.

Should you buy furniture now or wait? ›

January and July. Since retailers start selling next season's new furniture styles in stores and online in February and August, you'll find the best deals before then. This biannual cycle means you have two guaranteed times to shop at lower prices.

Will things get cheaper in 2023? ›

Key points. Inflation seems to be slowing, and some things could start to get cheaper in 2023. The cost of real estate, rental, cars, and gas could fall, at least a little. Don't get too excited about potential price drops, as there's still a lot of uncertainty about the economy.

Will home prices drop in 2023 recession? ›

Historically, home prices tend to rise over time, not fall. Prices are currently coming down in some markets, and the national median price was ever-so-slightly lower in February 2023 than it was in 2022, but experts do not expect dramatic drops.

What kind of furniture is in high demand? ›

Tulip tables, leather chairs, "cloud" coaches and tree stump nightstands are in high demand; here's how to shop for furniture and avoid supply chain delays.

Is furniture sales slowing down? ›

And this year's numbers will show a continuation of slower growth, with predicted sales of $126.3 billion, up just 1.9% over 2022. Furniture store sales will be in line with the GDP figure, rising to $72.75 billion for a 1% increase over 2022's projected $72.05 billion.

What is the market potential of furniture? ›

The furniture market was estimated at USD 648.12 billion in 2021 and is expected to reach USD 677.09 billion in 2022.

Who is market leader in furniture industry? ›

As of 2020, IKEA was the eighthmost valuable retailer in the world, making it the most valuable furniture retail brand, valued at roughly 21 billion U.S. dollars.

Which is the best furniture market in world? ›

Top 10 Best Furniture companies in the world
  • IKEA - Furniture Retail Company.
  • Steelcase - US company.
  • Williams-Sonoma.
  • Rooms To Go.
  • Herman Miller.
  • TJX - U.S. based Company.
  • Okamura - Japanese Company.
  • 9 to 5 Seating.
Feb 22, 2023

Who is the largest global furniture retailer? ›

Founded in 1943 in Älmhult, Sweden, IKEA is an internationally known furniture and home furnishings retailer. It has grown rapidly since its foundation and today it is the world's largest furniture company.

What are the biggest trends for 2023? ›

7 Fashion Trends Taking Over 2023 — Shop Them Now
  • 2023 Fashion Trend: Red.
  • 2023 Fashion Trend: Cargo Pants.
  • 2023 Fashion Trend: Sheer Clothing.
  • 2023 Fashion Trend: Denim Reimagined.
  • 2023 Fashion Trend: Shine For The Daytime.
  • 2023 Fashion Trend: Maxi Skirts.
  • 2023 Fashion Trend: Cobalt Blue.
3 days ago

What is the next big thing in marketing 2023? ›

In 2023, there's going to be a shift in mindset from technical-based marketing to anticipation marketing. This will enable marketers to anticipate what customers want and then feed it into automation processes. This new mindset will now only make things more efficient but will enable personalization.

What are the next trends for 2023? ›

Trends such as knee-high splits, geometric cut-outs and sheer fabrics all lends themselves perfectly to a sultry skin moment, whereas for the inevitable open-air soirée, amping up the drama is easy with a 1970s It-girl-inspired hooded gown.

What are customers looking for in 2023? ›

Five Direct-To-Consumer Trends To Look For In 2023
  • Livestream shopping will continue to grow. Gone are the days of written reviews. ...
  • It's time to prioritize social commerce. ...
  • Brands need supply chain resilience. ...
  • Sustainability is the key ingredient. ...
  • Storefronts are gaining popularity.
Jan 18, 2023

What is one small business trend to look out for in 2023? ›

Augmented reality and virtual reality will come into their own. Augmented reality (AR) and virtual reality (VR) have been in the zeitgeist for some time now, but they might see more widespread adoption by businesses in 2023. Best of all, small businesses could take the lead on the trend.

What retail could look like in 2030 the store of the future? ›

Store Fronts Will Become Virtual

By 2030, store windows will be used in conjunction with smartphone devices to create animated and curated visual output, as well as leasable space to generate more income.

When should I buy new bedroom furniture? ›

That means you'll want to shop toward the end of winter (January and February) or the end of summer (August and September). Retailers will be discounting their old stock during these months to make room for the new styles. Presidents Day and Labor Day weekends are especially good times for sales.

How often do you buy new bedroom furniture? ›

The Average Lifespan of Home Furnishings
Sofa7-15 years
Bed15-20 years
Chest of Drawers or Dresser10-20 years
Desk15 years
Office Chair7-10 years
7 more rows
Dec 10, 2019

What to avoid when buying furniture? ›

10 Biggest Mistakes to Avoid When Buying Furniture
  • Ignoring scale and space. ...
  • 3) Not considering your lifestyle. ...
  • 4) Impulse buying and fads. ...
  • 5) Forgetting maintenance. ...
  • 6) Buying it all at once. ...
  • 7) Too match of a matchness. ...
  • 8) Painting first. ...
  • 9) Sacrificing usability and comfort for looks.

What is the world economic prediction for 2023? ›

The outlook is uncertain again amid financial sector turmoil, high inflation, ongoing effects of Russia's invasion of Ukraine, and three years of COVID. The baseline forecast is for growth to fall from 3.4 percent in 2022 to 2.8 percent in 2023, before settling at 3.0 percent in 2024.

What are the economic fears for 2023? ›

The U.S. economy is humming, at least in some key metrics, but most economists say that the nation remains on a crash course toward a likely recession within the next year. A survey conducted last month by the National Association for Business Economics found that 58% of economists expect a recession in 2023.

Is it a good time to buy in 2023? ›

The combination of persistent buyer demand and low inventory has driven property prices up. There are fewer sellers, so prospective buyers need to contend with higher housing prices. As such, if you buy a home in 2023, you're likely to pay a premium.

Will the US housing market finally be back to normal in 2023? ›

Most experts do not expect a housing market crash in 2023 since many homeowners have built up significant equity in their homes. The issue is primarily an affordability crisis. High interest rates and inflated home values have made purchasing a home challenging for first-time homebuyers.

Will the housing market stabilize in 2023? ›

National Forecast Prices: February 2023 to February 2024

The CoreLogic HPI Forecast indicates that home prices will increase on a month-over-month basis by 0.2% from February 2023 to March 2023 and increase on a year-over-year basis by 3.7% from February 2023 to February 2024.

Will 2023 be a good year to buy a home? ›

California Association of Realtors (CAR) expects home prices to go up by 5.2% in 2023. In its report, CAR has indicated that housing affordability may go down by 23% next year, making room for large real estate investment appreciations over the next few years.

What color furniture is in style 2023? ›

Warm and Calming Neutrals

Jill Elliott, the founder of Color Kind Studio, predicts a change in living room color schemes for 2023. “In the living room, we are seeing warm, calming blues, peach-pinks, and sophisticated neutrals like sable, mushroom, and ecru—these are really catching my eye for 2023,” she says.

What are the furniture material trends for 2023? ›

What color of furniture is in for 2023? As we have discussed, natural materials such as wood, and earthy, grounding color palettes with a focus on green, brown and cream shades will be popular throughout 2023, helping to establish a calming, and tranquil atmosphere.

What types of furniture have the best investment value? ›

That's why we've prepared a list of the furniture that is most worth investing in.
  1. The Sofa. This is the big one for the living room. ...
  2. Your Bed Frame and Headboard. ...
  3. A Desk for the Home Office. ...
  4. The Dining Room Table.
Sep 15, 2020

Are furniture delays getting better? ›

In 2022, demand is down for furniture, giving all of the back-ups a chance to catch up, but the impact of the past two years is still slowing down the whole industry. Now rather than waiting over six months for furniture, waits are only three to four months.

Are people buying furniture right now? ›

Home furnishing sales shot up 7.2% month over month in January, not adjusting for inflation. Sales are also up since last year, according to the Commerce Department. Overall, the pandemic has been a boon to makers of sofas and desks and kitchen cabinets.

Why Wayfair is struggling to sell furniture? ›

While marketing costs are on the rise for all direct-to-consumer businesses, a high customer-acquisition cost is inherent to the furniture business, McCarthy said, adding, "It's not a category people buy frequently." Wayfair's sales have recently slumped in part because of waning demand for furniture.

What is happening in the furniture industry? ›

Furniture e-commerce is on the rise

According to Comscore Digital Commerce Measurement, in 2021, the furniture and appliances category was one of the top three growing categories in digital commerce in the U.S., with an 81% year-over-year increase in consumer spending.

What age group buys the most furniture? ›

U.S. consumers in the 35-44 age group spend more, on average, for residential furniture than any other age category. Next highest is the 45-54 age group.

What are the threats for furniture industry? ›

The State of The Furniture Industry as We Know It

At the start of 2023, the furniture sector faced the global economic slowdown that all industries faced. However, the rising cost of raw materials, supply chain issues and the ongoing energy crisis have further impacted furniture businesses around the world.

What is the biggest furniture company in the US? ›

Largest Furniture Companies Research Summary

The largest furniture company in the U.S. is Berkshire Hathaway, with a revenue of $276.094 billion. As of 2022, the U.S. furniture industry has a market size of $229.90 billion. The average American spends $534.17 per new piece of furniture.

Where is the furniture capital of the world? ›

High Point, North Carolina— NC Furniture Advisor. High Point is known as the Furniture Capital of the World. This North Carolina town is home to many US and international furniture manufacturers. The High Point Furniture Market occurs twice a year, and attracts 160,000 people to the city.

What country buys the most furniture? ›

In 2021, the United States was the leading importer of furniture from the rest of the world, with an import value of around 67.7 billion U.S. dollars. Germany, ranking second, imported approximately 19 billion U.S. dollars worth of furniture that year.

What country sells the most furniture? ›

In 2021, China was the leading exporter of furniture to the rest of the world, with an export value of approximately 87 billion U.S. dollars. Poland, ranking second, exported about 15.75 billion U.S. dollars worth of furniture that year.

Who are the US largest furniture importers? ›

U.S. furniture import trade partners 2021

In 2021, the United States' main trade partner for furniture imports was China, with a trade value of over 31 billion U.S. dollars. With less than half the trade value of imports from China, Vietnam was the second most important furniture supplier into the United States.

What businesses are expected to grow 2023? ›

10 Booming Industries to Watch in 2023
  • Healthcare. ...
  • Personal Care and Service. ...
  • Travel, Leisure, and Hospitality. ...
  • Commercial and Residential Construction. ...
  • Manufacturing. ...
  • Information Technology and Artificial Intelligence (AI) ...
  • Financial Services. ...
  • Human Resources.
Jan 24, 2023

What is the future economic outlook for 2023? ›

Advanced economies are expected to see an especially pronounced growth slowdown, from 2.7 percent in 2022 to 1.3 percent in 2023. In a plausible alternative scenario with further financial sector stress, global growth declines to about 2.5 percent in 2023 with advanced economy growth falling below 1 percent.

What are the projections for business growth in 2023? ›

Since May 2022, when CBO published its previous baseline projections, the agency has lowered its projection of the growth of nominal GDP in 2023 from 4.5 percent to 3.1 percent.

What is the outlook for furniture retail? ›

And this year's numbers will show a continuation of slower growth, with predicted sales of $126.3 billion, up just 1.9% over 2022. Furniture store sales will be in line with the GDP figure, rising to $72.75 billion for a 1% increase over 2022's projected $72.05 billion.

What to invest in 2023 recession? ›

The best recession stocks include consumer staples, utilities and healthcare companies, all of which produce goods and services that consumers can't do without, no matter how bad the economy gets.

What are the top economic concerns for 2023? ›

Consumers are expected to cut back spending amid higher interest rates, lower real incomes, and significant declines in household net worth. Rising mortgage rates and soaring building costs will likely continue to weigh on the housing market, with residential fixed investment projected to decline further.

Will the recession end in 2023? ›

Many economists and financial experts are confident a recession will happen in 2023, but some, like Jamie Dimon, CEO of JP Morgan, are pushing predictions for a recession toward the end of 2023, feeling they might have overestimated the severity of and potential for a slowdown in the economy.

Will US economy go into recession in 2023? ›

In a best-case scenario, the U.S. will likely see a 'soft landing' with low/slow growth across 2023 before picking up in 2024. However, a downside scenario is a real possibility and could see the U.S. enter a prolonged recession lasting well into 2024, as is currently forecast for the UK and Germany.

What is the target market for furniture business? ›

The target market for furniture businesses is people who love to furnish their houses with new furniture, but who don't like to shop around and get confused by the huge choice. Your target market is couples in their 30s and 40s. These people probably have a good job, and they probably live in family homes.

What is the market up on furniture? ›

The markup on furniture is the difference between the retail price of a product and its wholesale cost. Typically, the average markup of furniture ranges from 20% to 50% based on the furniture's wholesale cost.

Who is the most successful furniture retailer? ›

Founded in 1943 in Älmhult, Sweden, IKEA is an internationally known furniture and home furnishings retailer. It has grown rapidly since its foundation and today it is the world's largest furniture company.


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