According to Canada's Innovation, Science and Economic Development, categories under the country's home furnishings industry include floor coverings, kitchen and tableware, window treatments, blinds and shades, bedding and linens, bathroom accessories, and picture frames. The research provided insights into these categories, as available in the public domain.
The different categories in Canada's home furnishings industry include floor coverings, kitchen and tableware, window treatments, blinds and shades, bedding and linens, bathroom accessories, and picture frames, as per a report by the country's Innovation, Science and Economic Development Department.
Kitchen & Tableware
According to Market Screener, demand for kitchen and tableware in Canada is expected to increase due to growth in the number of single-person families and single households in the country.
Globally, four countries, including the US, Canada, the UK, and Spain, were responsible for nearly 30% of the worldwide imports of kitchen and tableware. This situation is expected to remain high and increasing due to growth in their household numbers, respectively, according to Market Screener's report.
Significant drivers of this sector include increasing residential renovation expenditures, housing starts, and a depreciating Canadian dollar, which is helping to support increased demands for products in the sector.
We started by looking for reports, revealing the various categories of Canada's home furnishings industry. This investigation produced a report by the country's Innovation, Science and Economic Development Department, which also provided insights into the industry, as of 2016. Next, we researched each category mentioned by Canada's Innovation, Science and Economic Development and provided insights into them, respectively, as available in the public domain.
Home Furnishings Market Current Trends: Canada
Changing sales trends, increased e-commerce sales, and expansion of key players in the sector are some trends in Canada's home furnishings industry, as per reports by IBISWorld, Statista, Euromonitor, and others.
The impact of these key players expanding and opening new stores indicates that they will further cement their place as top players in the industry, holding the most market shares and dominating small players.
We began by investigating official government directories, hoping to find reports of Canada's home furnishings industry with insights into trends in the sector. This investigation revealed a report by Canada's Innovation, Science and Economic Development Department, but it only provided an overview of the industry with no information pertinent to trending issues affecting the sector.
Next, we proceeded to research market and industry reports on Canada's home furnishings industry. Here, we located market studies by credible directories, including Euromonitor, IBISWorld, Statista, and others. Unfortunately, these reports only provided a snapshot of some metrics of the industry, but did not go deep into trends affecting the sector. Based on our observation, the required information on trends in Canada's home furnishings industry may be available in the paid versions of these studies, but because such information was behind paywalls, we could not gain access.
As a third strategy, we examined the directories of key players in the sector, including IKEA, Leon's Furniture, and HomeSense. Again, there was no information on their domains or press releases, which highlighted trends in Canada's home furnishings industry. Therefore, we researched media reports in the public domain and took topics discussed in Canada's home furnishings industry, which were mentioned in two or more reports, to be the trends in the sector.
TJX is the parent company of HomeSense. In Canada, TJX operates the HomeSense, Winners, and Marshalls chains under the same segment, according to the company's annual report, which does not reveal revenue information specific to each chain of stores.
According to a report by BusinessWire, TJX had revenues of C$3.87 billion in 2018, and this includes sales from HomeSense, Winners, and Marshalls.
We began by looking for industry and market reports with insights into the top players in Canada's home furnishings industry. This investigation revealed reports by Euromonitor, Statista, and others, highlighting significant players in the industry. Next, we examined all the companies mentioned in the reports found and checked their websites to confirm that they sold home furnishings.
Then, we provided information on those with the highest revenues, as reported in the public domain. Please, note that there was no direct revenue information for HomeSense, as its parent company, TJX, does not reveal sales data specific to HomeSense. Instead, it only revealed revenue information of its entire business in Canada, which HomeSense was one of. However, based on reports by IBISWorld, which listed HomeSense as of the three largest home furnishings companies in Canada, and BusinessWire's report that observed that HomeSense had about 125 stores in Canada and was a major player in the industry, we included them in this report.
"This industry group comprises establishments primarily engaged in:retailing home furnishings, such as floor coverings, window treatments, kitchen and tableware, bedding and linens, lamps and shades, bathroom accessories, and pictures and picture frames."
"Cumulatively, these countries accounted for nearly 30% of the global imports in 2017. Hence, the demand for ceramic tableware in these countries is anticipated to remain high amid increasing household numbers."
"This statistic represents the bed linen/spread market size in Canada from 2013 to 2015, with a forecast of 2020. In 2015, it was reported that the bed linen and bed spread segment reached approximately 918 million U.S. dollars and was projected to increase to over one billion dollars by 2020."
"The company already operates 112 HomeSense stores in Canada and 51 in Europe, though the stores in those markets have a different look and feel from the U.S. version. Beyond an initial handful of locations, TJX has not divulged how many more HomeSense stores it expects to open."
"KEA Canada said sales for its fiscal year ending 31 August 2018 were $2.39 billion, an increase of 8% over its previous year. About 10% of revenue was generated by its e-commerce activities as its web site hosted 104 million visitors."
"IKEA remains a solid second behind Leon’s Furniture Limited – the Toronto-based parent of Leon’s and The Brick – whose market share is estimated at 23% based on system-wide revenue of $2.64 billion for the 2017 calendar year – up from 22.8% for the prior year."
"Leon's is a major retailer in the furniture market in whole of Canada and operates 129 stores in Ontario. The revenue of Leon’s Furniture has steadily grown in recent years, reaching around 2.24 billion Canadian dollars in 2018."