Increasing number of population owning homes, especially in the developing regions is expected to drive the growth of global market for home décor. Real estate industries are likely to contribute significantly towards expansion of the global market. Online retailing especially due to cost-efficiency and extended options is gaining traction since the recent past. However, fluctuating prices of raw materials such as leather and wood are factors anticipated to hamper the growth of global market for home décor in the forthcoming years.
A recent report anticipates that the global market for home décor will expand at a healthy 6.3% CAGR during the forecast period, 2017-2022, to touch an evaluation of approximately US$ 855,680Mn by 2022-end. Companies namely Hanssem Co., Ltd., Inter Ikea Systems B.V., Zepter International Inc., The Oneida Group, Inc., Suofeiya Home Collection Co., Ltd. and Siemens AG among others will witness a sizeable growth globally. Leading companies are intent on marketing schemes such as product developments and growing their product portfolio. Apart from this, companies such as Walmart are contributing significantly towards expansion of the global market for home décor.
Hanssem Co. Opens New Chinese Flagship Facility in Shanghai
Hanssem Co. has opened its first Chinese flagship facility in Shanghai for the expansion of its business. Hanssem Co. built a two-storey store in Changning District, Shanghai. The store consists of nearly 13,000sq.ft meters. This facility is expected to be double the size of Hanssem’s flagship store in South Korea. The company is planning to expand its product portfolio and offerings with regards to interior renovations and every home accessory. Hanssem Co. is witnessing increasing competition from companies such as Nitori and Inter Ikea Systems B.V.
Hanssem Co. will further offer products that distinguishes it with other key players and the manufacturers of the company are planning to develop models in a way that represents modern lifestyle. China holds unlimited growth potential, due to which key players can plan to expand their businesses in the region.
Walmart Introduces an Innovative Home Décor Site
Walmart is taking immense efforts in working on developing and redesigning the online shopping facility for its customers. The new layout enables customers to buy innovative products according to their convenience and browse curated collections developed by in-house engineers. The immense efforts taken by Walmart will help the company in increasing its position in the global market for home décor.
Companies like Wayfair and Amazon are making heavy investments in R&D for developing innovative home décor products with Walmart. In order to improve customer experience, Walmart has taken efforts in styling products and placing them in suitable rooms, so that customers can easily look for products depending on their requirements.
A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-4831