Although global economic challenges continue, SYNERGY's business is expected to be less affected given the affordable nature of its furniture products. In addition, the company is well positioned in the B2C sales sector and has established a strong presence on third-party e-commerce platforms in the United States, the United Kingdom, Canada and Germany. Furthermore, during the current financial quarter, the company will further expand its presence in a new market, namely France
According to Allied Market Research, furniture market will reach $840.5 billion globally, by 2034 at 4% CAGR. This is driven by increased demand for residential and commercial furniture as populations migrate to cities
The B2C segment continues to show strong growth, now accounting for 54% of total revenue, up from 52.2% in 1Q24. The summer season in the US began late in 2Q, leading to increased consumer spending on outdoor furniture and other necessities rather than Synergy’s indoor furniture.
Synergy house will benefit from the Wayfair platform as well as the potential to establish new recurring revenue streams through partnerships with other local furniture manufacturers
The company has a dominant position in B2C sales and has established a strong presence on third-party e-commerce platforms in the United States, the United Kingdom, Canada, and Germany. Invest it with confidence 👍
The US Furniture Market Report 2022 stated that the US furniture market is expected to reach a value of US$288.9 billion (RM1.35 trillion) by 2026, with a compound annual growth rate of 4.47% from 2022 to 2026.
Malaysia exported RM13.86 billion of furniture globally in 2022, with the US being its top export destination at RM7.24 billion or 52.2% of the nation’s total furniture exports last year. Malaysia was the US’ sixth largest source of imported furniture in 2022, accounting for 2.78% of its total furniture and bedding import value.
UK eco-friendly furniture market sees significant growth as consumer demand rises, driven by sustainability and environmentally conscious choices. Will Synergy House explore into eco-friendly furniture ? 😀
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
TradeHarbor
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Posted by TradeHarbor > 2024-08-15 20:19 | Report Abuse
Although global economic challenges continue, SYNERGY's business is expected to be less affected given the affordable nature of its furniture products. In addition, the company is well positioned in the B2C sales sector and has established a strong presence on third-party e-commerce platforms in the United States, the United Kingdom, Canada and Germany. Furthermore, during the current financial quarter, the company will further expand its presence in a new market, namely France