Furniture & Homeware market in Iceland

The Icelandic Furniture & Homeware eCommerce market is predicted to reach US$102.3 million by 2024 and accounts for 11.5% of the total eCommerce market in Iceland. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 4.6%, resulting in a projected market volume of US$122.3 million by 2028. Within the Furniture & Homeware market ECDB considers the following two sub-markets: Furniture and Homeware.

Monthly revenues

Monthly eCommerce revenues in the Icelandic Furniture market

The monthly eCommerce revenue of the Icelandic Furniture market was US$5 million in October 2024. This refers to a growth of 6.4% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in January 2024 with 11.3% of the total 2024 revenue of the Icelandic Furniture market and the lowest in September 2024 with 6.8% of the total 2024 revenue.

Revenue Last Month

US$4.8m

The eCommerce revenue grew by 6.4% from September 2024 to October 2024.

10-2024+6.4%

Monthly revenue shares in the last 12 months

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

0-20241-20242-20243-20244-20245-20246-20247-20248-20249-202410-202411-2024
Revenue (in mUS$)0.00.00.00.00.00.00.00.00.00.00.00.0
Monthly revenue share (in %)40.560.259.446.263.978.741.146.623.646.944.832.1

Market development

eCommerce revenue development in the Furniture market in Iceland

The Icelandic Furniture eCommerce market is predicted to reach US$66.4 million by 2024 and accounts for 64.9% of the Furniture & Homeware eCommerce market in Iceland. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 4.3%, resulting in a projected market volume of US$78.5 million by 2028. The Furniture eCommerce market is a sub-market of the Furniture & Homeware market. Further categories within the Furniture & Homeware market are: Homeware.

eCommerce revenue development in the Furniture market in Iceland

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Furniture market in Iceland

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)77.832.752.555.457.561.234.113.5

Online share

eCommerce online share of the total Furniture market in Iceland

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Icelandic Furniture retail market, the online share is 26.5% and will increase by an average of 9.9% to 38.6% by 2028.

eCommerce online share of the total Furniture market in Iceland

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)67.4%58.9%47.3%28.2%57.4%16.8%40.0%32.0%

Top stores

Top five Furniture online stores in Iceland by net sales 2023

With sales in the Icelandic Furniture market, vidaxl.is generated a revenue of US$9.0 million in 2023, which means it is the leading online store in this market. The Furniture ranking of Iceland is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.

eCommerce net sales generated in the Furniture market in Iceland in 2023

in million US$

Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed

Source: Annual report, secondary sources, ECDB analysis

Filtered revenue / share
Global revenue
Growth
no-access-0
US$900.0m
20.7%
US$8,300.0m8.3%
no-access-1
US$550.0m
12.0%
US$4,600.0m12.4%
no-access-2
US$470.0m
3.9%
US$1,190.0m33.6%
no-access-3
US$430.0m
20.6%
US$2,122.0m18.0%
no-access-4
US$370.0m
20.7%
US$1,814.0m12.6%

See further stores

Worldwide - Furniture Iceland - Furniture Iceland - All Categories

Market definition

Definition of the Furniture market within the Furniture & Homeware market

Market definition: Furniture & Homeware > Furniture The category Furniture includes the online trade of kitchen furniture, bathroom furniture, livingroom furniture, and more. Online stores dedicated to the sale of unmovable objects (e.g. sinks, bath tubs, faucets) and furniture assembly services are not considered. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Kitchen furniture
  • Bathroom furniture
  • Livingroom furniture
  • Bedroom furniture
  • Dining room furniture
  • Home office furniture
  • Outdoor furniture

Out-of-scope

  • Unmovable objects (e.g. sinks, bath tubs, faucets)
  • Furniture assembly services