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Key Drivers Shaping the Home Décor and Accessories Industry
Several factors are fueling growth in the home décor and accessories industry. The expanding middle class, particularly in emerging economies, is leading to higher expenditure on lifestyle products. Rapid urbanization and smaller living spaces have increased demand for multifunctional and space-saving décor items.
In addition, digitalization is reshaping the industry. Virtual reality (VR) and augmented reality (AR) tools offered by online retailers allow customers to visualize furniture and accessories in their homes before purchase.
The growing focus on sustainability is also significant. Eco-friendly materials such as bamboo, reclaimed wood, and organic fabrics are increasingly popular among conscious consumers. Personalized décor is another driver, as buyers seek custom designs, handmade crafts, and artisanal pieces.