The global furniture market is expected to grow from $564 billion in 2020 to $671 billion in 2021 at a compound annual growth rate (CAGR) of 18.9%.
4 good reasons attributed to this growth:
With home sales soaring around the world, furniture stocks provide an interesting investment opportunity for short and long-term investors. As more people buy new homes, new furniture likely follows. Here are four stocks riding this trend: Exxe Group, Inc. (OTC US: AXXA), Wayfair (NYSE: W) and At Home Group (NYSE: HOME).
Exxe Group, Inc. (OTC US: AXXA), a diversified fintech company, recently acquired a controlling interest in furniture manufacturer and interior design agency daskonzept group AG, which is headquartered in Thun, Switzerland.
The company recently reported record Revenues for Quarter Ending December 31, 2020
Wayfair Inc. (NYSE: W), founded in 2002 and headquartered in Boston, Massachusetts, engages in the e-commerce business in the United States and internationally. It provides more than twenty million products for the home sector under various brands. The company offers online selections of furniture, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.
Last month, the online retailer announced another quarter of nearly 50% sales as consumers prioritized spending on home furnishings.
At Home Group Inc. (NYSE: HOME), founded in 1979 and headquartered in Texas, operates home decor superstores in the United States. The company’s stores offer home furnishings, including accent furniture, furniture, mirrors, patio cushions, rugs, and wall art; and accent dÃ©cors, such as artificial flowers and trees, bath, bedding, candles, garden and outdoor decors, holiday accessories, home organization, pillows, pottery, vases, and window treatments. As of April 21, 2021, it operated approximately 226 stores.
Any investor who avoided Exxe Group, Inc. (AXXA), Wayfair (W) and At Home Group (HOME) over the past twelve months would be well served to take another look. Right now could well be the opportunity you’ve been waiting for.
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