As consumers become increasingly conscious of how they live, there is a rising trend of people favoring practicality over excess. This is also evident in the interior décor industry, as consumers look to make environmentally-friendly purchases that make the best use of their space.
Enter: multi-functional furniture.
Singapore is already one of the most densely populated countries, trailing only Monaco and Macao. And with scarce land, families and consumers prefer durable and multi-purpose furniture to complement their evolving tastes and preferences.
5 Key Benefits Of Multi-Functional Furniture
The uptick in population has also led to an increase in housing costs, further encouraging consumers to look for options that are not only reliable but also maximize the use of space.
Here are five key reasons why multi-functional furniture popularity will increase in 2023:
- Increased Space
Have you ever walked into a home that just doesn’t have enough space to walk in? With land becoming scarce, people will look to make the best use of their spaces and allow more room.
Multi-purpose furniture is made with a minimalistic design, ensuring that they serve the purpose without taking up too much unnecessary space.
- Enhanced Functionality
As innovation allows for unique designs, furniture is no longer inflexible to its surroundings. New products enable consumers to use them in several ways, maximizing functionality.
Leading furniture manufacturers, like Picket & Rail, have launched products like Baby Cot Convertible Companion Cabinet™ – a shelving unit that fits a baby cot that can be replaced with a study desk or settee in the future.
- Improved Perception Of The Room
While there is no such thing as too much furniture, you need to leave empty space behind so your house does not look cluttered or messy. It reduces the natural look of the room and can make the area look much smaller.
Taking the example above, you won’t need the extra space for a study table if you have a Baby Cot. This frees up the room and makes it much more open and welcoming.
- Bigger Storage
Why store items in an inaccessible space that requires a ladder when you can safely stock them in your furniture? Take the Tatami Storage Beds™, for example. Despite debuting five years ago, they continue to dominate selling charts due to their ergonomic design and unique storage space.
Not only does it allow you convenient access to your possessions, but you can also be wary of their location at all times.
- Cost Effective
By eliminating the need to invest in other fixtures, multi-purpose furniture saves you money. Why invest in a bookshelf when you can utilize a storage compartment below your chair?
Additionally, if you’re purchasing from a reliable manufacturer, the product’s longevity means you don’t have to spend on repairs and maintenance frequently.
Multi-functional furniture is a crucial area of growth for furniture manufacturers. The global small space furniture market is poised to reach USD 6 billion – a 5.9% CAGR growth. Many national retailers, such as Picket & Rail, have already launched multi-purpose furniture catalogues.
As consumers continue to look for increased value for money, this sector is poised to grow substantially in 2023.
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