The Uk Furniture Industry

Topics: Retailing, Decorative arts, Marketing, Furniture, Sales / Pages: 9 (2218 words) / Published: Apr 15th, 2013
The UK Furniture Industry

Executive Summary
The information in this report is largely based on data for 2011 which is the last year for which we have full and complete reporting. While 2011 saw difficulties in the furniture sector, 2012 has seen increased challenges and the industry continues to be a difficult one to be successful in.

* Furniture and furnishing stores declined by 3% in current value terms in 2011 * The sector was rocked by the collapse of iconic furniture manufacturer and retailer, Habitat * Consolidation continues, as the top three retailers increase their shares in 2011 * Growth rates in furniture and furnishing stores are set to stabilise, but the sector is still expected to decline. * Since 2006, sales have fallen by 13.2% and the UK has seen nearly 3000 furniture and furnishings outlets close. * The current outlook is not a favourable one for the industry: while the number of outlets is expected to see a small growth in 2011-2016 (0.7%), value of actual sales is forecast to fall by more than 10% over the same period. * The recession has had a lasting impact on all home-related sectors, including the furniture and furnishings industry, due to the downturn in the housing market. * Within the furniture and furnishing sector, the majority of retailers are positioned at the lower-end of the spectrum, with price an important factor in the decision for UK consumers. This became even more important in 2011, as consumers were less willing to spend on expensive furniture. * Independent specialists: small stores dependent on one category will continue to suffer reflecting market share gains by the largest players. * Larger chained retailers have managed to increase their brand share over the 2008-2011 period whilst smaller retailers have struggled to maintain theirs. * Furniture retailers who have been most successful in recent years have been those who have moved away from a single product offering

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