Market Research Report
Domestic Bedroom Furniture Market Report - UK 2016-2020 Analysis
|Published by||AMA Research||Product code||244548|
|Published||Content info||70 Pages
Delivery time: 1-2 business days
|Domestic Bedroom Furniture Market Report - UK 2016-2020 Analysis|
|Published: August 9, 2016||Content info: 70 Pages||
The 13th edition of the 'Domestic Bedroom Furniture Market Report - UK 2016-2020 Analysis', assesses the market for bedroom furniture, which has followed an interesting path in recent years, experiencing a period of volatility, which has included reasonable growth in 2014 followed by more modest performance in 2015. The report examines the various aspects driving change in the industry and assesses the likely future prospects for the sector through to 2020.
Andrena Furniture, Bebecar (UK), Canburg, Charles Barr Furniture, Chartley Furniture Design, Corndell Furniture Co, Crown Products (Kent), Daval Furniture, Dean House, Ercol Furniture, Flexa Furniture, Gautier, H. Morris & Co, Hammonds Furniture, Home Decor, Hülsta Furniture (UK), Kingstown Holdings, Nathan, Neville Johnson, Paragon Furniture, Sharps Bedrooms, Spacemaker Bedrooms, Starplan Furniture, Stompa UK, Strachan Furniture Makers, The Symphony Group, Thuka Furniture, Whiteleaf Furniture, Willis Gambier (UK), Woodberry Bros and Haines, Wren Living.
Bedroom furniture is estimated to account for approximately 12% of the overall UK domestic furniture market. Following strong growth in the bedroom furniture market during 2014, the market grew by a modest 2% during 2015, with similar rate of growth forecast for 2016/17. Factors supporting market growth have included an improvement in the housing market, higher consumer confidence levels and a surge in imports in 2014, with China, Vietnam and Poland responsible for much of this increase. The rapid penetration of low cost imports from the Far East and Eastern Europe has driven down prices and margins in most sectors of the furniture market, and the import penetration level is at its highest in the bedroom sector.
Retail specialists now account for the bulk of the market, followed by furniture multiples and department stores and variety chains. In the retail sector there has been increased competition from a number of high profile players, together with threats from newcomers, such as Tesco and Asda. These outlets, particularly those that operate a 'click and collect' model, will continue to provide strong competition to the established furniture retailers. Growing competition in a sluggish market is also reflected in the increasing number of liquidations in the sector, both at manufacturer and retail level. Many of the UK fitted furniture suppliers are vertically integrated companies, involved in the design, manufacture and installation of their own furniture, often marketed through their own retail outlets or via concessions in other stores.
A number of underlying factors are influencing sales of domestic bedroom furniture, including a greater number of smaller households, a continuing demand for new housing, with demand still outstripping supply, and a new generation of children and teenagers, who require more than just a bed and a cupboard, but a more complex arrangement of storage solutions to cope with their increasingly technological environment, incorporating laptops, televisions, DVD recorders, Xboxes etc. Other factors have had a negative impact on sales of bedroom furniture, for example, the increase in home working can place pressure on living space (and very often bedroom living space) within the dwelling. Fitted furniture has increased its share of the bedroom furniture market and currently accounts for around 28%. Sliding wardrobe systems have also grown in recent years, reflecting the consumer preference for cleaner lines and contemporary styles and the practical nature of these products is attractive in this context.
In general, short term prospects for the next 5 years are likely to remain mixed for the overall furniture industry, with forecasts showing modest, but some volume growth. The bedroom furniture market is also forecast to show some growth in the next few years, albeit at a slower rate than the overall furniture industry and is estimated at around 2-3% per annum. Most of the future growth within the bedroom furniture sector is expected to come from the fitted furniture sector, supported by heavy promotional expenditure and the lower end of the market, driven by companies, such as IKEA, Argos and Tesco, with their ranges of affordable and innovative products, together with their wide distribution networks. In addition, the shift to the Private Rented sector will also be a factor influencing the nature of the buying population for bedroom furniture. The rental market continues to grow and this seems likely to increase the proportion of the buying population focused on lower cost products, particularly short to medium term tenants. The market remains highly competitive and smaller independent retailers will continue to feel both economic pressures and the threat from national retailers, although even the larger companies may suffer from lower profits or even losses, sometimes despite an increase in turnover.