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Housewares and Home Furnishings in Germany
Euromonitor International, Sep 2007, Pages: 100
Our Housewares and Home Furnishings in Germany report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data (2001-2006), allowing you to identify the sectors driving growth. It identifies the leading companies and offers strategic analysis of key factors influencing the market. Forecasts to 2011 illustrate how the market is set to change.
Product coverage: carpets and other floor coverings, furniture, household textiles and soft furnishings, ceramic housewares, china and porcelain, cutlery, glassware, plastic housewares
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the housewares and home furnishings industry;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market’s major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
We have over 30 years experience of publishing market research reports, business reference books and online information systems. With offices in London, Chicago, Singapore, Shanghai and Vilnius and a network of over 600 analysts worldwide, Euromonitor has a unique capability to develop reliable information resources to help drive informed strategic planning.
EXECUTIVE SUMMARY
Economic Indicators Bode Well for Increased Consumption
All indicators show the German economy to be going through a boom period. The Federal government's spring assessment is of continuing positive development. For 2007, economic growth is expected to be around 2%. Unemployment figures fell to 3.97 million people without jobs in May 2007, the lowest number since 2002, and are expected to fall below three million by 2009 if current reform efforts are continued. A planned tax reform will boost consumption further over the medium term.
VAT Rise Led To Shopping Frenzy
In 2007, VAT rose to 19%, which led to a peak in consumption in the final months of 2006. As expected, the first two months of 2007 suffered from the after effects of this spending spree, with sales significantly lower than in previous months. But there are indications for a continuation of the upswing in March 2007. German exports remain at an all time high despite the growing strength of the Euro, creating more jobs and boosting consumer confidence.
Spending on Non-essentials Starts To Rise
It appears that the anxious years since 2001 gave way to a more sunny outlook, leading to consumers spending more on non-essentials. As in the fashion market, there is a luxury segment in home furnishings and housewares, but the lion's share of furniture sales are on small, self-assembled pieces. More than half of German consumers live with this type of furnishing. According to the German Statistical Office, the 50+ age group is looking more at quality than price when they acquire new furniture, constituting the most attractive consumer group.
The Battle for Supremacy
When describing the German furniture retail market, words like 'battle' or even 'war' are often employed. Market shares are fought over with military zest. First, there was the 'invasion' from Austria by the Lutz chain, who bought up a number of big German players and is now competing effectively against established German furniture retailers. Market leader IKEA is labelled a discounter who sells the full range from low price instant furniture to quality products to deceive many critical furniture snobs. Germany's number two furniture retailer is even called Krieger (Warrior). It is unlikely that blood will flow in this market, but a series of 'conquests' is on the cards.
Style Changes on the Home Front
The dominant mass market style of the past two years was a return to the the browns and oranges of the 1970s, which some older consumers would have been quite happy never to see again. Furry fabrics, flokati rugs and lava lamps along with backless benches instead of sofas adorn sitting rooms. In 2007, a classic yet colourful style appears to be asserting itself, combined with natural materials, especially wood. The description is 'clean chic' and the colour is white.
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