Furniture & Homeware market in Iceland

The Icelandic Furniture & Homeware eCommerce market is predicted to reach US$102.4 million by 2024 and accounts for 11.7% 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 3.6%, resulting in a projected market volume of US$117.9 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 & Homeware market

The monthly eCommerce revenue of the Icelandic Furniture & Homeware market was US$10 million in November 2024. This refers to a growth of 35.7% compared to October 2024. Within the last 12 months, the monthly revenue share was the highest in January 2024 with 11.1% of the total 2024 revenue of the Icelandic Furniture & Homeware market and the lowest in September 2024 with 6.9% of the total 2024 revenue.

Revenue Last Month

US$10.3m

The eCommerce revenue grew by 35.7% from October 2024 to November 2024.

11-2024+35.7%

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 %)22.251.074.098.589.397.03.643.166.672.150.339.9

Market development

eCommerce revenue development in the Furniture & Homeware market in Iceland

The Icelandic Furniture & Homeware eCommerce market is predicted to reach US$102.4 million by 2024 and accounts for 11.7% 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 3.6%, resulting in a projected market volume of US$117.9 million by 2028. Within the Furniture & Homeware market ECDB considers the following two sub-markets: Furniture and Homeware.

eCommerce revenue development in the Furniture & Homeware 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 & Homeware 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 %)32.542.483.926.030.391.944.327.7

Online share

eCommerce online share of the total Furniture & Homeware 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 & Homeware retail market, the online share is 26.1% and will increase by an average of 9.6% to 37.7% by 2028.

eCommerce online share of the total Furniture & Homeware market in Iceland

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)91.0%8.9%21.0%59.0%88.0%91.8%23.2%63.1%

Top stores

Top five Furniture & Homeware online stores in Iceland by net sales 2023

With sales in the Icelandic Furniture & Homeware market, ikea.is generated a revenue of US$10.2 million in 2023, which means it is the leading online store in this market. The Furniture & Homeware 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 & Homeware 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 & Homeware Iceland - Furniture & Homeware Iceland - All Categories

Market definition

Definition of the Furniture & Homeware market

Market definition: Furniture & Homeware The category Furniture & Homeware comprises digital sales of furniture (e.g. tables, chairs, beds, cabinets) and homeware (e.g. lamps, tableware, carpets, blinds, decorations) for the private end user (B2C). Not covered are unmovable objects (e.g. sinks, bath tubs, faucets), interior finishes (e.g. floorings, paints, wallpapers) or household appliances. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Furniture (e.g. tables, chairs, beds, cabinets)
  • Homeware (e.g. lamps, tableware, carpets, blinds, decorations)

Out-of-scope

  • Unmovable objects (e.g. sinks, bath tubs, faucets)
  • Interior finishes (e.g. floorings, paints, wallpapers)
  • Household appliances
  • Consumer electronics
  • Furniture assembly services
  • Interior design services