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Companies in this industry sell household furniture and mattresses to consumers. Major companies include Ashley Furniture Industries, Bassett Furniture, Haverty Furniture, La-Z-Boy, and Rooms To Go (all based in the US) as well as DaVinci (China), HOLA Home Furnishing (Taiwan), Home Retail Group (UK), and IKEA (Sweden).
Internationally, India, Russia, China, and countries in Eastern Europe are undergoing strong economic growth, which is creating additional disposable income. Real estate booms in these emerging markets are fueling demand for furniture.
The US furniture retailing industry includes about 24,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $50 billion.
Household furniture sales are closely linked to home sales. Office furniture sales are linked to employment growth and new business formations. The profitability of furniture stores depends on merchandising and marketing. Small stores can co-exist with large ones by carrying special goods that appeal to a particular type of customer. The US industry is fragmented: the 50 largest companies generate about 35 percent of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
A typical furniture store sells living room, dining room, kitchen, and bedroom furniture, along with mattresses. Products are sometimes classified as "case goods" (wood furniture) or upholstered products. Most retail furniture stores sell a broad range of products, but some concentrate on one furniture type, such as mattresses, sofas, or office or children's furniture. Store operations involve sales management, merchandising (deciding which ...
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