Opportunities in the home decor market
Home is not only the place it is a feeling. We spend more than fourteen hours where we are more comfortable, that’s why Home decoration is more important nowadays. For some people this might be a symbol of status or place to make new memories, everyone wishes to have a home-like their dream house.
There are various types of home decorations like indoor and outdoor. People are aware of their choices, there are various designs and brands available for flooring, furniture, and textile. Many of the customers prefer a smart home as they want technologically advanced appliances to save energy and time, whereas many prefer a green home theme which is more environmentally friendly.
The statistic shows the value of the home decor market in the United States and it provides a forecast for 2021. In 2017, the U.S. home furnishings market was valued at around $198 billion.
Consumers want retailers to be ultra-personalized, integrated, and hyper-efficient. Using visual search, home decor and furniture retailers are able to offer these experiences in both the online and offline environments and eventually stay ahead of an increasingly competitive market.
One of the primary barriers in home décor and furnishings online is consumer trust. However, with a wide variety of choices, being able to shop when it’s convenient, and attractive return and exchange policies, consumer trust in online home decor has improved. In fact, e-commerce first home décor retailers Wayfair and Overstock have experienced consistent growth since being founded in 2002 and 1997, respectively