In 2023, household expenditure on home goods in Australia stood at 62.72 billion Australian dollars. Observing the data from 2013 to 2023, there was a consistent increase in spending. Significant growth was noticed during 2020, with a year-on-year increase of 12.34% likely influenced by the COVID-19 pandemic, as households invested more in home goods. Over the last five years, the compound annual growth rate (CAGR) was 5.96%, showcasing robust growth, particularly from 2019 onwards.
Looking forward, the forecast indicates a slowdown in growth with a forecasted CAGR of 2.7% for the next five years, predicted to reach 74.37 billion Australian dollars by 2028. This represents a total growth of 14.25% over this forecast period. Key future trends include potential changes due to economic factors, consumer behavior shifts, technological advancements in home goods, and sustainability considerations.
