Transparency Market Research delivers key insights on the global online home decor market. In terms of revenue, the global online home decor market is estimated to expand at a CAGR of ~8% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global online home decor market report.
In this market report, TMR predicts the growing demand for home decor across the globe to have a noteworthy impact on the overall online home decor market. The advancements in product design and the introduction of multi-functional home furnishing products are anticipated to propel the sale of online home decor in the Europe region.
The growing popularity of interior decoration and rapid growth in residential construction activities are expected to propel the market during the forecast period. Furthermore, increasing trend of shopping through online platforms by customers using their smartphones is also influencing users to opt for online home decor products and bridging the gap, which is driving their demand. The boom in the e-Commerce industry has created huge opportunities for manufacturers and distributors operating in the online home decor market. Producers and suppliers of home decor products are focusing on selling their products on various e-Commerce websites across the globe to cater to a comprehensive range of customers across the world. Several home interior designers and retailers are entering the online space and offering newly designed home decor products. They are also providing attractive discounts, exchange offers, and instalment schemes to customers to direct their attention toward their exclusive range of products.
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In terms of product type, the online home decor market has been segmented into furniture, textiles, flooring, wall décor, lighting, and others. During the forecast period, the online home decor market is anticipated to be dominated by the furniture segment. Based on price category, the online home decor market has been categorized into mass and premium. The increasing demand for mass products by users is expected to drive the online home decor market in the next few years.
In terms of distribution channel, the online home decor market has been classified into e-Commerce websites and company-owned websites. The e-Commerce websites segment is anticipated to expand at a significant growth rate during the forecast period. Europe has seen a surge in the adoption of e-Commerce among consumers, which, in turn, has increased online sales of home décor products.
A unique research methodology has been utilized by TMR to conduct a comprehensive research on the growth of the global online home decor market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary sources referred to by analysts during the production of the global online home decor market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, products portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the online home decor market as a primary source.
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These primary and secondary sources provided exclusive information during interviews, which serves as a validation from online home decor industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global online home decor market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global online home decor market more reliable and accurate.
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