Market Trends of Office Furniture Industry
This section covers the major market trends shaping the Office Furniture Market according to our research experts:
Growing E-Commerce is Helping the Market to Record More Revenue
During the study period, customers gradually started switching to the e-commerce channels for their business needs, which helps reduce the number of times they need to visit the physical retail stores to compare their desired products and prices. More vendors are also adapting to online retail strategies to reduce costs and increase their profit margins. Moreover, there is a rise in online furniture stores to minimize the need for rental space and inventory. Amazon.com and Wayfair are some of the leading online retailers for office furniture. The growth opportunity for the sales of office furniture through online channels forced online retailers to improve purchase processes in terms of security and reliability, which propelled the demand for office furniture. Some of the policies that encourage consumers to purchase online include secured transactions, cash-on-delivery options, convenient return policies, and integrated and centralized customer service.
Asia-Pacific to Witness Strong Growth in the Office Furniture Market
Asia-Pacific is the fastest-growing region in the global office furniture market. China, Japan, Australia, and India are the top contributing countries in the region. Many key players in the office furniture market are entering partnerships with e-commerce retail stores to strengthen their distribution network. The demand for office furniture increased with an exponential rise in commercial properties and employments in the service sector. An increasing number of start-ups and business expansions is another factor expected to drive the market's growth in the region. The increase in the region is anticipated to be fostered by the rising demand for office leasing and employment. Moreover, the expansion of multinational companies in Asia-Pacific is expected to boost the growth of the office furniture market in the region.
