The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The development of flexible office spaces, the expansion of meeting rooms and the development of lounge areas in office spaces are the main factors in the demand for Russia office furniture. The growing demand for coworking spaces creates new opportunities for suppliers of office furniture and solutions. The demand for new office spaces and, as a result, the demand for new office furniture was formed not only by changing the location of a number of companies to optimize rental costs, but also by the need to increase the office space and improve its quality. The demand for office furniture depends entirely on the general state of the economy and, consequently, the level of employment, business development, expansion, and general activities or the specific needs of the company for renovation or replacement of office furniture.
Key Market Trends
Increasing Office Spaces in Moscow City
Moscow reserves leadership in business development in Russia. In the coming years, several business centres in Moscow are waiting for redevelopment. This is expected to contribute toward an increase in demand for office furniture during the forecast period. The style of office furniture can be correlated with the work style and output of the employees of an organization. At present, the market for office furniture is driven by factors like the expanding corporate sector, rapidly growing real estate industry and escalating demand for premium and designer furniture. Increasing office construction spending is expected to behold the growth of the market. In line with the same, leading office furniture companies are manufacturing which offers better comfort and can improve productivity.
Rise in Online Sales of Office Furniture
Growing number of start-ups, rising consumer engagement through online shopping platforms, rising number of home-based offices, and growing internet penetration contribute toward increased demand for the online sales of office furniture. Owing to increasing consumer preference for online shopping, several office furniture companies are selling their products through their own website or through popular retail websites. The online stores are attracting customers in huge numbers as it saves money and time of the customer in travelling to the store and is catering to the demand for variety.
The report covers major international players operating in the Russia Office Furniture Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
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