United States RTA Furniture Market 2017-2021: Product Innovation Aiding in the Creation of Wider Product Portfolios … – Yahoo Finance
DUBLIN, Jan 27, 2017 /PRNewswire/ —
Research and Markets has announced the addition of the “RTA Furniture Market in the US 2017-2021” report to their offering.
The RTA furniture market in the US to grow at a CAGR of 5.18% during the period 2017-2021.
The report covers the present scenario and the growth prospects of the RTA furniture market in the US for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of RTA furniture in the US. RTA Furniture Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a a discussion of the key vendors operating in this market.
According to the report, RTA furniture can be considered as a more cost effective alternative to fully assembled furniture. Due to the high labor and assembling cost, the price of an assembled piece of furniture is higher compared with an unassembled piece. Generally, a fully assembled furniture is priced about 20%-25% higher than its RTA counterpart. For instance, Kitchen Cabinet Kings’ RTA Country Oak Classic cabinets are sold at around $1,175, while the pre-assembled version of the same furniture costs around $1,382.
Major vendors such as Home Depot Product Authority and Lowe’s are putting in efforts to mass customize their furniture by making use of consumer interaction platforms. Customers can also order furniture in the colors and themes of their choice. Inter IKEA Systems, for instance, has come up with an assembly service, which allows consumers to add a personal touch to fittings through customization. This service enables customers to suggest modifications in the design of furniture bought by them. Players can further capitalize on this opportunity by basing their marketing communication on the customization potential and thus spur growth in sales.
Fully assembled furniture products are more expensive due to their high production costs, which are cumulative of high raw material, assembly, and labor costs. In addition, as fully assembled furniture products are bulkier, they also involve high shipping charges, which are passed on to customers.
Further, the report states that one of the major challenges for the growth of the RTA furniture market in the US is the high popularity and adoption of assembled furniture. In the overall furniture market in the US, over 90% of the furniture products purchased by consumers are assembled. This is primarily due to the fact that most consumers find it difficult to assemble RTA furniture. In addition, assembled furniture saves time, as sometimes problematic instructions and the requirement of too many tools may lead to difficulty in assembling.
- Bush Industries
- Inter IKEA Systems
- Sauder Woodworking
- Walmart Stores
Other Prominent Vendors:
- Steinhoff International
- Ontario Systems
- Cost Plus World Market
- Cymax Stores USA
- Flexsteel Industries
- Simplicity Sofas
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Segmentation by retail formats
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
Part 14: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/bhqqn5/rta_furniture
Research and Markets
Laura Wood, Senior Manager
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/united-states-rta-furniture-market-2017-2021-product-innovation-aiding-in-the-creation-of-wider-product-portfolios-and-premium-product-range—research-and-markets-300398077.html
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