Household penetration levels of home furnishings are high, particularly in the largest sectors of window dressings and bedding, and as such the industry benefits from the growing number of households in the UK. However, as the majority of purchases are due to the need for replacement, in times of economic downturn when consumers are forced to make cut backs and are less open to making impromptu purchases the purchase of such items can often be deterred.
The fall in the number of people moving house, which is often considered a catalyst for purchasing home furnishings, also has implications for the soft furnishings market. The recent slump in the housing market has helped consumer expenditure on household textiles to fall. There were only 885,000 property transaction completions in 2010, compared with 1.67 million in 2006, a deterioration of almost half (47%).
The textile industry was once an integral part of the UK economy, with a reputation for quality workmanship and innovative designs, although today the UK has a significant trade deficit in home furnishings, importing goods of a greater value than those it exports in every furnishings sector.
Companies Mentioned:
- Caldeira Ltd
- Debenhams PLC
- Dunelm Group PLC
- Hillarys Blinds Ltd
- House of Fraser (Stores) Ltd
- IKEA Ltd
- Laura Ashley Holdings PLC
- Marks and Spencer PLC
- Matalan Retail Ltd
- Walker Greenbank PLC
For more information visit http://www.researchandmarkets.com/research/453a53/home_furnishings_m