The prospects in furniture & floorcoverings are improving greatly. Consumers are more confident about their finances, housing transactions are growing quickly and pent-up demand is being released. However, threats remain. The rapid improvement in housing may be fuelling a bubble and remote retailers will take a larger market share. Specialists can not afford to ease up in developing their offer.
Identify how furniture & floorcoverings sub-sectors are set to perform up to 2019 and be able to adjust product mix and strategy accordingly.
Obtain a greater level of granularity with sub-sector market share for upholstery, kitchens, bedroom and living & dining.
Use exclusive Verdict consumer data to gain a better understanding of the furniture shopper and identify opportunities.
Develop strategy around the key issues which are set to impact upon the furniture & floorcoverings sector over the next five years.
The furniture & floorcoverings market returned to growth in 2013 and will gain greater momentum in 2014, when sales grow by 2.6%. More consumers will be in a better financial position, housing transactions will increase and shoppers will make purchases that were previously deferred. Growth peaks in 2015 as floorcoverings supports performance.
Kitchens and upholstery are two key growth sectors in 2014. Kitchen will improve as retailers invest more in their offer and more homeowners aim to develop a room which they had deferred during the downturn. Upholstery will grow on their back of store expansion, improvements to the retailer's offer and higher levels of customer demand.
Remote retailers are set to grow the fastest between 2014 and 2019 as shoppers become more comfortable about making larger purchases online. These retailers have a high rate on conversion online and if this can be maintained when higher levels of traffic visits the site, they will pose a greater threat to the larger specialists.
Reasons To Buy
Which individual furniture & floorcoverings sub-sectors are set to be the most buoyant over the next five years and what is this performance?
Which retailers are set to gain market share in 2014 and which channels in furniture & floorcoverings are set to outperform?
Which retailers do the best job of converting website visitors into buyers? How can retailers benefit from using augmented reality?