According to market research, the global home decor market was worth nearly $582 Billion in 2017… and you’ll be happy to know that it’s continuing to rise.
In fact, the home decor market is expected to garner $664.0 billion by 2020. For these business men and women should consider purchasing an online home decor website for sale.
So how and why is the home decor market doing so well? Well, there are a few factors influencing these growing trends, including:
- Rising levels of disposable income
- Recovery of the real estate industry through expansion and other developments
- Increasing urbanization
- Rising awareness levels
- Increased globalization allowing for a wider variety of home decor products
- Growing preference for eco-friendly products
Home decor includes anything from mirrors, couches, shelves, plants and so on. With this booming market, many online-only furniture stores are gaining traction, like Wayfair and even Amazon.
This is because consumers actually tend to prefer online retail platforms for buying furniture, or other home decor items. Consumers can easily scroll through products from the comfort of their couch and purchased items can be delivered straight to a front door. In 2019, buyers are loving the ease and cost-effectiveness of opting for an online retailer.
In addition to the convenience of buying online, a small but steadily growing number of homeowners has increased the need and want for home decor and goods. In 2016 the homeownership rate was about 63% and has increased to nearly 65% as of 2019.
Purchasing an online home decor website clearly has its benefits, and entrepreneurs interested in making money online should heavily consider becoming a retailer in this growing market.
An e-commerce business where you don’t need to stock any inventory or ship any products.
Print on Demand
Start your own unique brand selling apparel, jewelry, accessories and other print on demand products.
Niche Affiliate Marketing
Promote third party products and services through your own affiliate marketing website.