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.

Market development

eCommerce revenue development in the Kitchen & Bath market in Iceland

The Icelandic Kitchen & Bath eCommerce market is predicted to reach US$14.4 million by 2024 and accounts for 21.6% of the Furniture 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 6.6%, resulting in a projected market volume of US$18.6 million by 2028. The Kitchen & Bath eCommerce market is a sub-market of the Furniture market. Further categories within the Furniture market are: Home & Living, Home Office & Workplace Furniture, Other Furniture, and Outdoor Furniture.

eCommerce revenue development in the Kitchen & Bath 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 Kitchen & Bath 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

201720182019202020212022202320242025202620272028
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)98.323.038.067.778.747.849.434.8
as of Furniture (in %)40.240.140.339.739.339.239.038.738.438.238.037.7

Online share

eCommerce online share of the total Kitchen & Bath 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 Kitchen & Bath retail market, the online share is 26.8% and will increase by an average of 9.8% to 39.1% by 2028.

eCommerce online share of the total Kitchen & Bath market in Iceland

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)78.7%99.8%76.9%82.2%21.8%56.4%17.3%62.7%

Market definition

Definition of the Kitchen & Bath market within the Furniture & Homeware market

Market definition: Furniture & Homeware > Furniture > Kitchen & Bath The category Kitchen & Bath includes the online trade of kitchen furniture (e.g. kitchen cabinets, kitchen racks) and bathroom furniture (e.g. bathroom cabinets, bathroom storage). This category does not cover customized built-in kitchens and unmovable objects (e.g. sinks, bath tubs, faucets). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Kitchen furniture (e.g. kitchen cabinets, kitchen racks)
  • Bathroom furniture (e.g. bathroom cabinets, bathroom storage)

Out-of-scope

  • Customized built-in kitchens
  • Unmovable objects (e.g. sinks, bath tubs, faucets)

Market comparison

The Icelandic Kitchen & Bath market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis