Furniture Metro Market Projections for 2016
May 17, 2016,
Outdoor furniture sales are projected to grow 19.5% over the next five years, from $4.4 billion in 2015 to $5.3 billion by 2020, according to Casual Living market research and Easy Analytic Software Inc. That includes sales for dining sets, chat groups, other furniture and shade products.
Twenty-three states are expected to grow faster than the national average, with North Dakota leading the pack at a projected growth rate of 24.8%. With the help of warmer weather prolonging the outdoor season, the South dominates outdoor furniture sales among all the U.S. regions at 38%. Both the Midwest and West comprise 22% of outdoor furniture sales, while the Northeast rounds out the sales at 18%.
Sales figures are based on data available through October 2015 and are subject to revision. Estimates are based on information from the Department of Commerce, the International Trade Commission, sales estimates from manufacturers and retailers, Casual Living consumer surveys and information garnered from discussions with industry executives and analysts.
Projections for 2020 are designed to forecast the changes that statistically adjust for household income, age by race and sex, group quarter population and births and deaths, along with other forecasting factors. Spending forecasts assume a national rate of inflation that does not vary from one location to another.
For the complete report, see the May 2016 print issue of Casual Living, or click here for the exclusive online edition.
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