Cities are geographic concentrations of people, skills, economic activities and capital infrastructures, which are making them the key actors of the world economy’s growth. Cities began to emerge as strategic places for the new world economy, precisely because of their specialized differences and knowledge. Furniture companies willing to increase and extend their activities in a new market cannot disregard the development and peculiarities of the cities within a country.
This report identifies and profiles the top urban furniture markets, 30 world cities to focus on in order to see where the international furniture and furnishings players can find good business opportunities in the coming years.
The selection was driven by various dimensions, ranging from the number of ultra-rich individuals, economy and population growth and the level of furniture growth demand, to the capacity to enhance its resources through efficient infrastructures, to create a favorable environment for doing business, as well as to offer investment opportunities.
Key data and forecasts for each considered metropolitan area
- A selection of economic and demographic indicators (population and its growth rate, households and its growth rate, household’s consumption and its growth rate, gross domestic product per capita, and its growth rate, breakdown of households by the level of income)
- Estimates of the potential furniture market
- Furniture market size and forecasts up to 2023
- Location of furniture flagship and mono-brand stores for a selection of European high-end furniture manufacturers, highlighting the most recent openings
The selection displays a wide array of cities to watch, each of them displaying interesting factors that are likely to influence the furniture demand in the coming years. Cities selected from these areas include the economically and demographically fast-growing cities from China and India, the consolidated major Asian cities, the world's most livable cities from Australia and the mature, but wealthy and attractive cities from the United States, Canada and from Europe.
Profiles of the Selected 30 Cities
Each profile includes:
- Socio-economic indicators
- Potential furniture market and forecasts for the furniture market development to 2023
- Lists and location of furniture flagship and mono-brand stores of a selection of furniture manufacturers active in the high-end market