Despite the slowdown during 2020, the furniture industry has seen high demand across many market segments. Home office furniture and furnishings have been much sought after, especially during 2020 as a large percentage of the population adjusted to working from home and sought to improve their workspaces. Demand for other furniture has also been on the rise due to people spending much more time at home than they did before the pandemic. Consumers are improving their living spaces and seeking out the perfect pieces of furniture to suit their homes.
The demand for office furniture has begun to die down, with 2021 seeing fewer sales than 2020. Most of the people looking to create or update a home office have done so by now, and many are now returning to the workplace. Instead, consumers are turning their attention to other parts of the home.
Home furnishings have been in such high demand that furniture retailers have been struggling to fulfill orders in a timely manner. Combined with material shortages and supply chain delays, the high demand has caused wait times to skyrocket, with furniture orders sometimes taking months to reach the purchaser.
While some consumers have been content to wait out these delays, others have begun looking elsewhere. Used, vintage, and antique furniture has been extremely popular in recent months as buyers look for sturdy, long-lasting products that can be available right away instead of weeks or months in the future. These older pieces also appeal to a population that is increasingly focused on sustainability. By purchasing used items, consumers reduce the number of products ending up in a landfill.
Demand for outdoor furniture is rising as well, as homeowners prepare for the warmer months and seek to get ahead of supply chain shortages. A good set of patio furniture can provide a place to relax at home, get some work done in the fresh air, or host friends safely. Because of this, outdoor furniture is facing similar challenges to the residential furniture segment, with material shortages, continued shipping delays, and other factors leading to longer than average wait times for products.