Key regions: France, Brazil, Canada, Worldwide, United Kingdom
The Home Décor market in Spain has experienced significant growth in recent years, driven by changing customer preferences and underlying macroeconomic factors.
Customer preferences: have shifted towards more modern and minimalist designs, with a focus on functionality and simplicity. This trend is in line with global market trends, as consumers worldwide are increasingly embracing minimalism and decluttering their living spaces. In addition to the preference for modern designs, Spanish consumers also value sustainability and environmentally-friendly products. This has led to an increased demand for home décor items made from natural and eco-friendly materials, such as bamboo, recycled wood, and organic fabrics. This trend is not unique to Spain but reflects a global shift towards more sustainable and ethical consumption. Another key trend in the Home Décor market in Spain is the growing popularity of online shopping. Spanish consumers are increasingly turning to online platforms to purchase home décor items, as it offers convenience, a wider range of products, and competitive prices. This trend has been further accelerated by the covid-19 pandemic, which has led to an increased reliance on e-commerce across all sectors. Local special circumstances in Spain also play a role in the development of the Home Décor market. Spain has a rich cultural heritage and a strong tradition of craftsmanship, which has resulted in a wide variety of unique and artisanal home décor products. Spanish consumers value these traditional crafts and often seek out locally-made and handcrafted items for their homes. This has created opportunities for small businesses and artisans to thrive in the market.
Underlying macroeconomic factors: have also contributed to the growth of the Home Décor market in Spain. The Spanish economy has been steadily recovering from the global financial crisis, leading to increased consumer confidence and spending power. As a result, consumers are more willing to invest in their homes and allocate a larger portion of their budget to home décor. Additionally, low interest rates and favorable financing options have made it easier for consumers to undertake home improvement projects and purchase new home décor items. In conclusion, the Home Décor market in Spain is growing due to changing customer preferences, such as a preference for modern and sustainable designs, as well as the increasing popularity of online shopping.
Local special circumstances: such as a rich cultural heritage and tradition of craftsmanship, further contribute to the market's development. Underlying macroeconomic factors, including the recovering economy and favorable financing options, have also played a role in driving growth in the market.
Data coverage:
Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.
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