The living room furniture market will grow by 3.5% in 2016, driven by upholstery as consumers were both willing and able to make larger purchases early in 2016, when consumer confidence was comparatively high with low levels of inflation, which boosted spending power
Between 2016 and 2021, living room furniture is forecast to underperform the wider market. While upholstery will remain comparatively buoyant, living room storage will dampen this performance, as the contracting physical entertainment market lowers demand.
Upholstery specialist DFS (18.4%) is the runaway leader for living room furniture, with the combined share of the next three retailers being only 0.1 percentage points higher.
Penetration for living room furniture was deepest among younger shoppers as these age groups furnish their first homes after buying or renting.
Increasingly, the upholstery purchasing journey is becoming a multichannel one, as customers want to buy in a way and at a time which suits them. Therefore, it is pivotal for retailers to create a seamless experience between online and stores to facilitate this.
The uncertainty caused by the EU referendum result will have a detrimental effect on the living room furniture sector. In the short term, consumer confidence will be impacted, which will discourage shoppers from making big ticket purchases such as upholstery, as customers gauge their financial position.
The Home Retail Series Living Room Furniture report offers a comprehensive insight into the living room furniture market in the UK, analysing the market, the major players, the main trends, and consumer attitudes. It also provides forecasts to 2021.
It provides in-depth analysis of the following:
Issues and Strategies
Reasons To Buy
Utilise the detailed data and insight on the market to help form an effective growth strategy within living room furniture
Understand which channels are set to become a greater threat over the next five years
Identify the opportunities to grow business in this sector by comparing strategies of the key players in the market and their performance metrics
Learn how online will impact upon the living room furniture and retailers can best incorporate the two channels together
Understand the opportunities in the market by learning who shops for living room furniture, how customers conduct pre-purchase research, and what drives their store selection.