Clothes tree is an upright stand or pole that has hooks or extensions on which clothes can be hanged. These are found useful in less spacious homes and hotels or other places. These can be used in bedrooms, bathrooms, and other areas to hang clothes, towels, umbrellas, and hang-able accessories. The increased benefits of clothes trees and its growing demand in the urban sector is expected to boost the growth of the global market for clothes trees.
COVID-19 Scenario Analysis:
Production shutdown scenario
The manufacturing processes for the clothes trees has been shut down due to the lack of transportation of raw materials and the safety standards set for maintaining physical distance during the work. This has ceased the production and is expected to restart at a slower pace.
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Reduction in market demand
Since clothes trees were usually shopped through retail stores, amid lockdown, the shopping rate of consumers has declined. This resulted in decline of revenue from the offline stores whereas the online channel of distribution seems to find trouble in transportation of goods.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Modernization influences on maximum utilization of the available facilities or area by adopting various techniques or using advanced products. The market for clothes trees is gaining popularity with growing urbanization and rising cost effective utilities of the same. The market is driven by the trend of enjoying more space with maximum utilization of the clothes tree. The leading market players have been modifying the design, size and attributes of the product so as to make it suitable as per the consumer requirements. However, the use of wood in the manufacturing of clothes tree faces stringent government regulations and this restraint the market from expanding.
The global clothes tree market trends are as follows:
New product launches to flourish the market
The new products that render reliable and convenient benefits to the consumers are demanded by the consumers. These demands are acknowledged by the leading market players wherein they act upon the consumer requirements and establish products that suit them well.
Diversification of distribution channels
The market players not only diversify their products but also bring diversity in the channel of distribution. This is prioritized to as the consumers avail the products at their convenience. Mainly the marketers have offline and online channels of distribution.
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The offline stores include the hypermarkets and specialty stores that sell consumer goods of different brands and merchandisers. The online platforms such as the web stores Amazon.com, Walmart, and others enable the online shopping of the product by providing the basic required and desired information regarding product quality, brand, attributes and price. This allows the consumers to have a better comparison and get the product delivered at home by paying the basic transportation/delivery charges. These diverse distribution channels fuel market expansion.
•Segments covered Type, Type by material, Application, Distribution Channel, Industry Vertical, and Region
•Regions covered North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil and Rest of LAMEA)
•Companies covered Wayfair, Kmart, Pottery Barn, Lowe’S Canada, Staples, Sears, Ikea, Fritz Hansen, Cascando, Artek, Global Furniture Group.
Key Benefits of the Report:
• This study presents the analytical depiction of the global clothes tree industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global clothes tree market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global clothes tree market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global clothes tree market analysis based on competitive intensity and how the competition will take shape in the coming years.
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