Issues in the Market
The vast majority of households struggle with storage issues. Furthermore, two fifths (42%) find it difficult to source the right size furniture for their home, while over a third (36%) struggle to store/display their possessions. This frustration with lack of space creates significant scope for new clever and flexible storage innovations in living/dining room furniture.
Q: How does smaller housing stock affect demand for living/dining room furniture? A: By 2017, the number of one- and two-person households is projected to increase by 850,000. Demand for space-efficient living/dining room furniture is therefore likely to intensify during the coming years. For example, in 2013, IKEA is launching its Uppleva modular range in the UK, which has integrated smart TV, video/Blu-ray and DVD players, wireless internet systems and the different components can be tailored to fit requirements and/or the space available. Mintel’s research for this report shows that the vast majority of households struggle with storage issues. Furthermore, two fifths (42%) find it difficult to source the right size furniture for their home, while over a third (36%) struggle to store/display their possessions.
This frustration with lack of space creates significant scope for new clever and flexible storage innovations. Q: How are companies leveraging the ‘stay at home’ trend? A: The living room has become a home entertainment hub with seating arrangements serving as part of the ‘movie’ experience, for example incorporating home comforts such as built-in fridges, cup holders and reclining seats. There is increasing connectivity between furniture and mobile devices. In April 2012, La-Z-Boy’s Gizmo range includes Bluetooth music control and speakers. CSL’s Sound Sofa offers built-in docking facilities for iPods and music speakers while the DFS Audio Sofas feature an entertainment dock for iPod/iPhone/MP3, with built-in speakers