Poor economic conditions - notably a weak housing market, weak consumer confidence and high inflation have meant many consumers are more considered with their spending and are deferring larger purchases until economic conditions improve. With this Furniture market is set to decline by 1% in 2017 with floorcoverings falling 1.9%. Bedroom will be the strongest growing sub-sector in furniture in 2017 as it continues to benefit from being a more essential purchase.
Furniture and floorcoverings will become the third fastest growing online sector between 2017 and 2022, growing by 48+%. Women continued to make up the majority of furniture and floorcoverings shoppers, increasing their share by 2.7 percentage points in furniture and by 1.9 percentage points in floorcoverings.
Pureplays are also investing in opening stores. The emerging pureplay mattress retailers are also enhancing their physical presence, by entering partnerships with physical retailers such as Simba and John Lewis and Eve with Next and Debenhams. The leading furniture and floorcoverings specialists are investing in online in response to the growth potential online, achieving exceptional growth albeit from small bases.
While improving on 2016, furniture & floorcoverings remains a sector that shoppers do not enjoy shopping for. Only 31.8% of furniture & floorcoverings shoppers rated their experience at least 8 out of 10 for enjoyment, placing it 13th out of 15 sectors.
The report "The UK Furniture & Floorcoverings Market 2017-2022", offers a comprehensive insight into the furniture & floorcoverings market in the UK, analyzing the market, the major players, the main trends, and consumer attitudes. It covers seven different furniture sub-sectors and eight floorcoverings markets and provides forecasts to 2022.
Moreover, this report enables the following:
- Identifying the factors that are impacting the furniture & floorcoverings sector.
- Exploring what people buy and spend in the furniture sector.
- Exploring what people buy and spend in the floorcoverings sector.
- Looking at the retailers consumers use in the furniture & floorcoverings sector.
- Understanding how consumers shop in the furniture & floorcoverings sector.
- Remote retailers in both furniture and floorcoverings will both grow by over 40% between 2017 and 2022.
- The only furniture sub-sectors to grow every year between 2017 and 2022 will be bedroom and dining room.
- IKEA continues to pull away from DFS atop the furniture market while the recent improved performance helps Carpetright remain the leader in floorcoverings.
- See which areas your customers deem the most important and understand how you perform in these areas to benchmark performance and identify weak points
- Gain a better understanding of the emerging and rapidly growing remote retailers, how the wider online channel is performing and who is using this channel. Use this information to gauge how best to capitalise on this growth and how best to combat this rising threat.
- Understand the challenges that the major upholstery players have been facing at the start of 2017 and how their future changes in strategy will impact competitors.