The latest supplier market intelligence study by SpendEdge on the furniture market helps companies understand the suppliers’ functional and operational capabilities, supplier diversity, supplier positioning, and supplier selection and evaluation criteria.
Furniture market – an overview
The growing demand for modular and ergonomically designed products is boosting the sales revenue in the furniture market. The rapid rise in the interior decorating industry is driving the demand for comfortable and aesthetically appealing indoor and outdoor furniture. The increasing awareness regarding health issues arising from long working hours is resulting in the growth of the office furniture segment. Compact and modular office furniture is gaining immense popularity, and the leading suppliers are focusing on developing patented products and designs to meet consumer requirements. The dynamic shift towards furniture manufactured from eco-friendly materials such as a cane, recycled plastics, and wood is boosting environmental awareness and the need to meet sustainability goals. SpendEdge offers supplier market intelligence study that helps companies gain a better understanding of the category essentials such as risk analysis, service level agreement terms, and category sourcing evaluation. The team of experts also provides information on suppliers’ functional and operational capabilities, supplier diversity, supplier positioning, and supplier selection and evaluation criteria.
The best way to stay competitive in the furniture market is by offering products with innovative designs. The suppliers are tapping this new potential by providing modular interiors that occupy less space and an open atmosphere. The new designs help organizations promote openness and facilitate sharing of ideas among the workforce. Innovative furniture designs aids in saving office space and improve organizational workflow.
Multi-functional and versatile products
Suppliers are attracting more consumers by offering small and portable furniture that fit in confined spaces. This is a very niche market, and many leading vendors are developing products that suit this targeted market space. The rising demand for foldable, multi-purpose, and technology-driven furniture will fuel the growth of this market. Multi-use sofa, storage ottoman, hidden tables, and multi-functional storage units are some of the unique designs that are available in the current market.
Emergence of ergonomically designed furniture
Recent surveys suggest 60% of large and medium-sized organizations across the world have adopted ergonomically designed chairs. Ergonomically designed furniture alleviates the loss of productivity due to health-related issues and resolves various posture related issues. Ergonomically designed chairs have the highest demand in the office sector as it helps improve sitting postures by providing support in the right areas.
What solutions SpendEdge offer to businesses
The team of procurement experts at SpendEdge provide a supplier intelligence study that provides the current trends in the furniture and furnishings industry and the procurement best practices. The solutions offered includes:
- Offer information on the short-term and long-term growth prospects and rapidly shifting trends in the furniture manufacturing industry
- Provide insights on the supplier engagement models, key market insights, pros and cons about the pricing models, and key growth constraints
- Deliver information on procurement best practices; category spend analysis, latest market trends, key clients, drivers, and challenges in the furniture and furnishings industry
- Assess the key competitors’ operational and functional capabilities regarding residential and non-residential segmentation
Read our complete case study titled – Supplier Market Intelligence Engagement Helps a Global Furniture Manufacturer Understand Supplier Market Landscape
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