Furniture and Home Furnishings Stores Sales in Canada stood at 20.878 billion CAD in 2023. Over the period from 2013 to 2023, the market exhibited several distinct trends. Between 2013 and 2017, sales showed steady growth with occasional moderate increases. While growth stagnated in 2018 and 2019, 2020 saw a negative impact due to external factors, resulting in a significant decline. However, the market quickly rebounded in 2021 with an 18.57% year-on-year increase and has stabilized since, showing moderate growth in 2022 and 2023.
Key Statistics:
- Year-on-Year Growth: 1.98% in 2023
- 5-Year CAGR (2023): 1.65%
- Forecast 5-Year CAGR (2028): 1.43%
- Forecast 5-Year Growth Rate: 7.36%
Future trends to watch for include potential impacts from shifting consumer preferences toward sustainable and multifunctional furniture, the role of e-commerce in driving sales, and how economic fluctuations may affect disposable income and spending on home furnishings.
