The household expenditure on home furnishing in Austria showed a modest increase from 2013 to 2023, with a value standing at 6.21 billion Euros in 2023. The yearly variations fluctuated, with significant increases in 2016 (4.95%) and 2021 (7.71%). Over the last two years, the expenditure grew by 5.01% in 2022 and 2.58% in 2023. The compound annual growth rate (CAGR) for the past five years (2018-2023) averaged at 3.5%, indicating a steady upward trend.
Looking forward, forecasts predict household expenditure will continue to rise, reaching 6.98 billion Euros by 2028. The forecasted 5-year CAGR stands at 1.84%, reflecting a consistent yet slower growth over the next five years. The overall growth rate expected across these years is 9.53%.
Future trends to watch for include:
- The impact of economic factors such as inflation and income levels on discretionary spending for home furnishing.
- Shifts in consumer preferences towards sustainable and multifunctional home furnishings.
- The influence of technological advancements, such as smart home integration, on the demand for updated furnishings.
- Market dynamics due to e-commerce growth and changes in retail strategies.
