From an aging population to increased imports to fashion trends, there are numerous factors redefining the furniture industry. Although the overall economic outlook for consumers in the U.S. has improved generally in 2005, intense price competition has proved challenging. Trends in home improvement retailing, interior design, and do-it-yourself remodeling and re-decorating also have had an impact on the indoor furniture market.

Growth in the furniture market has been slow during the time covered by this report. Sales dropped sharply in 2001, but sales have rebounded since then, though not as strong as the late 1990s.

From an aging population to increased imports to fashion trends, there are numerous factors redefining the furniture industry. Although the overall economic outlook for consumers in the U.S. has improved generally in 2005, intense price competition has proved challenging. Trends in home improvement retailing, interior design, and do-it-yourself remodeling and re-decorating also have had an impact on the indoor furniture market.

Growth in the furniture market has been slow during the time covered by this report. Sales dropped sharply in 2001, but sales have rebounded since then, though not as strong as the late 1990s.

While basic furniture is a necessity, furniture can also be a discretionary purchase. In addition to having a functional purpose, it is also is a reflection on consumers’ style, taste and status. This opens an arena of different marketing opportunities. With thorough research on a multitude of furniture market variables and target audiences, Mintel’s research report will help craft a comprehensive marketing model for your company.

Intriguing findings include:

89% of respondents said they buy furniture to improve their quality of life

44% of consumers watched some type of home improvement show, up 6% from 2002

In-store marketing is also a crucial aspect of appealing to young customers. Major retailers ranging from mass merchandisers to single-brand networks have redesigned and expanded youth department areas.

For the purposes of this report, furniture is defined as indoor furniture pieces for consumer use. This includes bedding and bedroom furniture, formal and casual dining room furniture, upholstery, home office furniture, entertainment centers, and infant/youth furniture. Ready-to-assemble furniture for the consumer market is also included. The primary retail channels for the indoor furniture market are mass merchandisers, department stores, home centers, specialty furniture dealers and the Internet.

The market definition excludes furniture for commercial offices, businesses and institutional use, and sales of second-hand and antique furniture. The indoor furniture market also excludes all furniture designed and marketed primarily for outdoor use, such as pool-side pieces, lawn chairs, beach chairs, folding camping furniture and picnic tables. These are covered in Mintel’s U.S. Outdoor Furniture report (October 2005). Appliances and décor, such as carpets, drapes, accents and built-ins are excluded. Electrical goods such as lamps as well as minor furnishings such as jewelry boxes are also excluded.