[Lifestyle] Interior design forecast: 6 mega trends set to shape the home furniture industry in 2024

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New furniture can quickly revitalise your home - or help you keep your decor fresh without undertaking an expensive renovation. Small accent chairs tucked into cosy bedroom corners or huge sofas that make a dramatic statement are just a few examples of how new furniture can work wonders. The home furniture industry is undergoing major changes as new trends emerge and transform consumer demands and preferences. From adaptable multipurpose furniture to customised luxury pieces, today's offerings cater to diverse lifestyles and values. Before you go furniture shopping in 2024, if you're thinking about buying a new piece of furniture or are planning to redecorate, take a look at what's trending this year. (Also read: 5 sustainable furniture trends reshaping interior design in 2023 )

Dr Mahesh M, CEO, Creaticity shared with HT Lifestyle six mega trends that will shape the home furniture industry in 2024. Stay tuned with breaking news on HT Channel on Facebook. Join Now 1. Adaptive Living Fuels Demand for Multifunctional Pieces The pandemic spurred changes in home and work setups, making the home the focal point for various needs. This increased the demand for versatile furniture that adapts to changing requirements. Brands are introducing innovative products like murphy beds, storage beds, foldable workstations, and convertible coffee tables to cater to compact urban homes and the growing tiny home movement. These space-saving pieces facilitate the creation of multipurpose rooms that can switch functionality. The rise in remote work has intensified this trend, with consumers seeking flexible furniture that meets ergonomic needs for extended desk sessions and incorporates storage solutions. Furniture must now align with the dynamism of contemporary living.

The widespread adoption of smart devices, internet connectivity, and voice assistants is reshaping home dynamics and influencing furniture preferences. Tech-savvy consumers now seek furniture seamlessly integrated into the digital ecosystem, featuring USB charging ports, Bluetooth connectivity, cloud-linked control panels, and voice assistant compatibility. Brands respond with high-tech additions like wireless phone chargers, app-controlled smart lighting furniture, and storage beds with voice-activated lifting mattresses. The Internet of Things integration within furniture is an ongoing innovation. The sales process is increasingly online-centric, from research to transactions, with furniture websites emphasising immersive presentations and digital tools like 3D renderings and Augmented Reality for a personalised shopping experience. 3. Sustainability Becomes an Imperative Amid heightened environmental awareness, the furniture industry faces an urgent need to embrace sustainable practices. Consumers now expect ethical sourcing, minimal carbon footprints, and non-toxic materials. Brands prioritise sustainability, highlighting responsible wood sourcing, reduced plastic packaging, renewable energy, and community support. Circular business models, including furniture rental and resale, prolong product lifecycles, reducing replacements. Customisation fosters longevity and emotional value, discouraging disposal. The industry's goal is to minimise waste, decrease greenhouse gas emissions, conserve natural resources, and promote ethical, eco-friendly business practices.

The pandemic has shifted furniture priorities toward health and home comfort. Consumers now seek wellness, ergonomics, and functional accessibility. Brands respond with solutions like orthopaedic mattresses, adjustable standing desks, and air-purifying furnishings for stress-free spaces. Modular furniture accommodates diverse needs, while sustainable materials like antibacterial bamboo and toxin-free fabrics align with clean living. Ergonomic chairs and accessories support proper workstation setups, emphasising furniture's role in nurturing both mental and physical well-being. 5. Personalisation Rules the Roost The era of mass-produced furniture is giving way to a demand for personalisation. Consumers now seek unique statement pieces that reflect their individual style. Brands facilitate this through modular furnishings with customisable options in fabric, finish, and configuration. Custom-built and bespoke services allow tailoring furniture to specific preferences and spatial contexts. This aligns with the growing po[CENSORED]rity of DIY and crafting culture. Virtual consultations enhance collaboration between customers and designers, shaping furniture decisions based on personal expression and individuality.

The surge in high-net-worth individuals worldwide presents opportunities for premium and luxury furniture brands. This demographic seeks exquisite craftsmanship, artistic design, and opulent materials symbolising luxury living. Brands elevate offerings with features like gold foil inlaid marble tables, gemstone inlaid cabinets, and hand-carved antique reproduction furniture. Multi-sensorial shopping experiences, bespoke designs, and the concept of furniture as investment assets appeal to discerning upmarket shoppers, emphasising the importance of the finest quality for creating stylish spaces. 7. Key Takeaways: Responding to Changing Consumer Values The home furniture industry is undergoing dynamic changes influenced by shifting consumer preferences and priorities. Brands must adapt to key trends, offering versatile furniture for compact living, integrating digital connectivity, and prioritising ethical sourcing. Designing for wellness, comfort, and accessibility caters to health-conscious consumers, while personalisation and quality craftsmanship appeal to differentiated identities. Evolving across choices, functions, and meanings is crucial for furniture to remain compelling, and brands that embrace changing consumer perspectives will dominate the future market.

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