Description

“The pandemic has stimulated a re-assessment of living spaces and interior décor within consumers’ homes. One of the effects of COVID-19 has been influencing decisions on where to live. In combination with those seeking or having performed renovations, furniture sales will follow suit. Although dependence on online shopping during the current pandemic has been elevated, the in-store experience is still crucial as two thirds have more trust shopping in-store than online. Looking towards the future of the category, consumers are enthusiastic about eco-friendly designs.”

– Andrew Zmijak, Research Analyst, Consumer Behaviour

This report will look at the following areas:

  • The impact of COVID-19 on the furniture market. This includes sleep furniture, living room furniture, home office furniture, bedroom furniture, storage and home organization, outdoor furniture, kitchen furniture, dining room furniture and other furniture.
  • How the market for furniture will fare post-COVID-19.
  • Furniture purchased, types of retailers shopped, reasons for purchase, furniture shopping behaviours, as well as attitudes towards furniture.
  • The challenges the market faces, market factors impacting the category, marketing and advertising campaigns, as well as innovations and trends in the market.

Table of Contents

  1. Overview

    • What you need to know
      • Key issues covered in this Report
      • Executive Summary

          • Top takeaways
            • Market overview
              • Impact of COVID-19 on furniture
                • Summary
                  • Figure 1: Short-, medium- and longer-term impact of COVID-19 on furniture, January 2022
                • Opportunities
                  • Attracting younger consumers is key for growth
                    • The in-store experience still works well
                      • Opportunity to expand into eco-friendly furniture
                        • Challenges
                          • Older consumers lack participation in the category
                            • Consumers demand fast shipping
                              • Spend on activities missed during the pandemic could hurt furniture sales
                              • The Market – Key Takeaways

                                • The impact of inflation and household savings rate
                                  • New Canadians to help drive growth
                                    • Supply chain issues will impact category
                                      • The pandemic has influenced decisions on where to live
                                        • Cost of building materials spikes
                                        • Market Factors

                                          • The impact of inflation and household savings rate
                                            • Figure 2: Canadian household savings rate, Q3 2018-Q3 2021
                                            • Figure 3: Home Trends Magazine Instagram post, December 2021
                                          • New Canadians to help support growth
                                            • Supply chain issues will impact category
                                              • The pandemic has influenced decisions on where to live
                                                • Cost of building materials spikes
                                                • Key Players – Key Takeaways

                                                  • Focusing on comfort and wellbeing at home
                                                    • IKEA refocuses attention on city centre retailing
                                                      • Online retailers see a bright future
                                                        • Leveraging tech to enhance the shopping experience
                                                          • On top of the latest trends
                                                            • The future is eco-friendly
                                                            • Competitive Strategies

                                                              • Focusing on comfort and wellbeing at home
                                                                • Figure 4: La-Z-Boy Instagram post, December 2021
                                                                • Figure 5: Leon’s Furniture Instagram post, August 2021
                                                                • Figure 6: We call it our “Renovacation”…, February 2021
                                                              • IKEA refocuses attention on city centre retailing
                                                                • Online retailers see a bright future
                                                                  • Leveraging tech to enhance the shopping experience
                                                                    • Figure 7: Wayfair Your Way, August 2019
                                                                  • On top of the latest trends
                                                                    • Figure 8: IKEA Canada Instagram post, December 2021
                                                                    • Figure 9: Leon’s Furniture Instagram post, October 2021
                                                                • Market Opportunities

                                                                  • The future is eco-friendly
                                                                    • Figure 10: What WE Make Instagram post, November 2021
                                                                    • Figure 11: Emeco Instagram post, January 2022
                                                                • The Consumer – Key Takeaways

                                                                  • Sleep and living room furniture were most commonly purchased items
                                                                    • IKEA and furniture retail chains lead the pack but not by much
                                                                      • Replacing old furniture is the most common reason for purchase
                                                                        • Testing furniture in-person is still essential
                                                                          • Comfort takes precedence over style for most
                                                                          • Furniture Purchased

                                                                            • Sleep and living room furniture were most commonly purchased items
                                                                              • Figure 12: Furniture purchased in the past five years, 2021
                                                                              • Figure 13: IKEA Canada Instagram post, September 2021
                                                                              • Figure 14: Leon’s Furniture Instagram post, April 2021
                                                                            • Repertoire of purchase among most is conservative
                                                                              • Figure 15: Repertoire of furniture purchased in the past five years, 2021
                                                                            • Younger consumers are a key target audience
                                                                              • Figure 16: Furniture purchased in the past five years, by age, 2021
                                                                              • Figure 17: Reasons for purchase, by age, 2021
                                                                              • Figure 18: Ashley HomeStore Instagram post, December 2021
                                                                              • Figure 19: The Brick Instagram post, July 2021
                                                                            • Younger consumers’ attitudes towards furniture driving purchase
                                                                              • Figure 20: COVID-19-related attitudes towards furniture (% any agree), by age, 2021
                                                                              • Figure 21: Online-related attitudes towards furniture (% any agree), by age, 2021
                                                                            • Parents cannot be ignored
                                                                              • Figure 22: Furniture purchased in the past five years, by parental status, 2021
                                                                              • Figure 23: Reasons for purchase, by parental status, 2021
                                                                            • Opportunity to attract younger women
                                                                              • Figure 24: Furniture purchased in the past five years, women 18-34 vs men 18-34, 2021
                                                                              • Figure 25: West Elm Instagram post, December 2021
                                                                            • Asian Canadians to support growth
                                                                              • Figure 26: Furniture purchased in the past five years (select), Chinese and South Asian Canadians vs overall, 2021
                                                                              • Figure 27: Select attitudes towards furniture (% any agree), Chinese and South Asian Canadians vs overall, 2021
                                                                          • Types of Retailers Shopped

                                                                            • IKEA and furniture retail chains lead the pack but not by much
                                                                              • Figure 28: Types of retailers shopped, 2021
                                                                              • Figure 29: Home Depot Instagram post, January 2022
                                                                              • Figure 30: Wayfair Canada Instagram post, August 2021
                                                                            • Older consumers stick to traditional retailers in the category
                                                                              • Figure 31: Types of retailers shopped (select), by age, 2021
                                                                            • Younger consumers are a lot more “adventurous”
                                                                              • Figure 32: Types of retailers shopped (select), by age, 2021
                                                                              • Figure 33: IKEA Canada Instagram post, September 2021
                                                                          • Reasons for Purchase and Shopping Behaviours

                                                                            • Replacing old furniture is the most common reason for purchase
                                                                              • Figure 34: Reasons for purchase, 2021
                                                                              • Figure 35: IKEA Canada Instagram post, September 2021
                                                                              • Figure 36: IKEA Canada Instagram post, January 2021
                                                                            • Testing furniture in-person is still essential
                                                                              • Figure 37: Furniture shopping behaviours, 2021
                                                                              • Figure 38: Crate & Barrel Instagram post, November 2021
                                                                          • Attitudes towards Furniture

                                                                            • Comfort takes precedence over style for most
                                                                              • Figure 39: Select attitudes towards furniture (% any agree), 2021
                                                                              • Figure 40: West Elm Canada Instagram post, December 2021
                                                                              • Figure 41: Ashley HomeStore Canada Instagram post, January 2022
                                                                              • Figure 42: Canadel Instagram post, January 2022
                                                                            • Consumers expect quick shipping
                                                                              • Figure 43: Shopping-related attitudes towards furniture (% any agree), 2021
                                                                            • Looking forward to eco-friendly designs
                                                                              • Figure 44: Future-looking attitudes towards furniture (% any agree), 2021
                                                                              • Figure 45: Ethan Allen Instagram posts, April 2021
                                                                            • More time at home has led to a re-evaluation of interior décor
                                                                              • Figure 46: COVID-19-related attitudes towards furniture (% any agree), 2021
                                                                              • Figure 47: IKEA Canada Instagram post, December 2021
                                                                            • A quarter of consumers like to consult with experts
                                                                              • Figure 48: Select attitudes towards furniture (% any agree), 2021
                                                                          • Appendix – Data Sources and Abbreviations

                                                                            • Data sources
                                                                              • Consumer survey data
                                                                                • Mintel Trend Drivers
                                                                                  • Consumer qualitative research
                                                                                    • Abbreviations and terms
                                                                                      • Abbreviations

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