A comprehensive study on sustainable practices incorporated by the furniture retail industry

Recent years have seen a growing globalization of the furniture industry. This is mostly the outcome of large manufacturers and merchants establishing international manufacturing networks to save costs in a highly competitive industry. Technology advancements and the global lowering of trade and investment barriers have aided in the globalization of the industry (Drayse, 2008). Furniture-producing regions in the US are going through turbulent upheaval. Because of the outsourcing trend, it is seen that China currently accounts for roughly half of all furniture imports into the United States (Ong, 2023). Similarly, the UK and Europe are also sourcing furniture mostly from Asian countries. Over the last few years, the trend of sourcing furniture and handicraft items from developing countries has increased. India is known for its low-cost production facility, but the problem is that very few standard regulations are in place to bind the wooden product manufacturers for the unethical cutting of trees. According to a report published in Times of India (Delhi Edition) in February 2021, most of the timber dealers do not have the trail of wood that is being sourced and supplied. On the other hand, most of the developed countries have made it mandatory for business organizations to import wooden furniture from FSC-certified companies across the globe. This report will try to understand what steps are been taken by the furniture retail industry for a sustainable future.