Statistics And Latest Trends In Australian Furniture Retailing Industry Archive
The furniture retailing industry in Australia has been quite challenging over the recent few years for all businesses involved and many faced big crisis. In the past five years, the industry revenue has accomplished an annual growth of only 1.4% and over this period, the trading conditions in the furniture retailing industry in Australia have been affected by the global instability of the financial markets. The small and insignificant growth of the industry over the past five years means that the demand for furniture has weakened as a consequence of the increased household debt levels.
The furniture retailing industry in Australia is currently characterized by a low level of market share, with the top five retailers accounting for less than 45% of revenue. The total revenue for 2015 is expected to be about $8 million with an annual growth of not higher than 1.5%. But with the economic conditions improving, the annual growth is expected to increase a bit, as well as the number of 4,500 of businesses involved in the industry. Most of the businesses involved in the industry employ up to 20 people and about 40% of them are owner-operated and non-employing. About 45% of furniture retailers generate revenue up to $2million per year.
The online furniture retailing is more popular than ever, as five competitive retailers have made huge efforts to take the largest part of the market share. Currently, the most prominent player in the online furniture retailing industry is MilanDirect. According to the latest reports, MilanDirect is dominating the furniture retail sector and its market share is bigger than any of its toughest competitors. Ever since the 1950s, the Australia’s most successful seller of furniture has gathered a customer base of over 300,000 satisfied customers and has sold over a million of products in Australia. With all these impressive numbers, the future of MilanDirect is looking bright!