Table of Contents
Introduction
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- Definitions
- Financial definitions
- Abbreviations
Executive Summary
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- The market
- Looking for the recovery
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- Figure 1: Spending on furniture, 2008-18
- A £13 billion market
- Reasons for (very) modest optimism
- Change in attitudes
- Companies, brands and innovation
- Space allocation summary
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- Figure 2: Major furniture retailers: Summary space allocation, June 2013
- Ikea dominates
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- Figure 3: Leading furniture retailers: Share of all spending on furniture, 2012
- The consumer
- Who shops where?
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- Figure 4: Furniture shops bought from the in the last three years, June 2013
- Factors in determining which store to visit
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- Figure 5: Factors important when buying furniture, June 2013
- Online and in-store – how they interact
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- Figure 6: Attitudes to buying furniture, online and in-store, June 2013
- What we think
Issues in the Market
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- What makes for success in furniture retailing?
- Time for furniture retailers to move away from a marketing strategy based on being permanently on Sale and interest-free credit?
- Just how important are low prices?
- Online will it kill furniture stores? Does a furniture retailer have to be online?
- Is there a future for the superstore?
Trend Application
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- Prove it
- Patriot Games
- Mintel Futures: Human
The Market Environment
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- Key points
- The downturn continues
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- Figure 7: GDP, PDI, consumer expenditure and savings, at current prices, 2008-18
- Figure 8: GDP, PDI, consumer expenditure and savings, at constant 2008 prices, 2008-18
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- Figure 9: UK: The income squeeze – inflation and wages growth, 2008-13
- Consumer confidence
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- Figure 10: How consumers feel about their current financial situation, Feb 2009-Jun 2013
- Inflation
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- Figure 11: Inflation in furniture and furnishings, June 2012 – June 2013
- Second hand
- Housing market
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- Figure 12: Average house prices, 2009-13
- Figure 13: Housing transactions – quarterly, not seasonally adjusted, 2006-13
- Housing equity withdrawal
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- Figure 14: Housing equity withdrawal, 2005-13
Who's Innovating?
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- Key points
- In-store events
- Design on the go
- More convenient delivery options
- Ikea hotel
Consumer Spending and Forecasts
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- Key points
- Reasons for (very) modest optimism
- The forecast
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- Figure 15: Spending on furniture, 2008-18
- Impact of the recession
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- Figure 16: Furniture spending: detailed forecast data, 2008-18
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- Figure 17: UK: Spending on furniture, by category (incl vat), 2007-12
Furniture Specialists’ Sales
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- Key points
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- Figure 18: Sales, by furniture specialists, 2008-12
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- Figure 19: Furniture retailers sales as % all non-food retailers sales, 2000-13
Strengths and Weaknesses
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- Strengths
- Weaknesses
Competitive Context
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- Key points
- Furniture buying in context
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- Figure 20: UK consumer spending on major home products (incl vat), 2007-12
- Interest in home fashions
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- Figure 21: What money left over at the end of the month is spent on, June 2013
Channels of Distribution
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- Figure 22: UK Furniture: Estimated channels of distribution (excl vat), 2012
- Online
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Space Allocation Summary
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- Key points
- Space allocation summary
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- Figure 23: Major furniture retailers: Summary space allocation, June 2013
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- Figure 24: Furniture retailers: Detailed space allocation, June 2013
- Retailer product mix
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- Figure 25: Furniture retailers product mix, 2012
Retail Competitor Analysis
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- Key points
- Specialists
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- Figure 26: Leading specialist retailers, Sales, 2007/08 – 2012/13
- Profitability
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- Figure 27: Leading furniture specialists: Operating profits, 2007/08-2012/13
- Figure 28: Leading furniture specialists: Operating margins, 2007/08-2012/13
- Outlets and space
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- Figure 29: Leading furniture specialists: Outlet numbers, 2007/08-2012/13
- Figure 30: Leading furniture specialists: Sales per outlet, 2007/08-2012/13
- Figure 31: Leading furniture specialists: Sales per sq m, 2007/08-2012/13
- Non-specialists
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- Figure 32: Total sales of leading non-specialists that sell furniture, 2007/8-2012/13
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- Figure 33: Estimated furniture sales of leading non-specialists 2012/13
Market shares
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- Sales relative to spending on furniture
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- Figure 34: Leading retailers of furniture: share of furniture spending, 2009-12
- Sales relative to furniture specialists’ sales
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- Figure 35: Leading furniture specialists: share of furniture retailers sales, 2009-12
Brand Communication and Promotion
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- Key points
- Advertising spend on furniture
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- Figure 36: Main media advertising expenditure on furniture and furnishings, 2009-13
- The top 10 advertisers account for more than half of the total advertising spend in the market
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- Figure 37: Main media advertising expenditure on furniture and furnishings, 2012
- Advertising spend by the top ten
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- Figure 38: Main media advertising expenditure on furniture and furnishings, by top 10 advertisers, 2008-12
- Figure 39: Selected retailers’ advertising expenditure as a percentage of turnover, 2012
- Advertising expenditure by media type
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- Figure 40: Main media advertising expenditure on furniture and furnishings, by media type, 2008-12
- How the year shapes up
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- Figure 41: Main media advertising expenditure on furniture and furnishings, by month, 2012
The Consumer – What They Own and What They Plan to Buy
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- Key points
- Who owns what
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- Figure 42: Proportion of the population owning particular items of furniture, June 2013
- Planned purchases
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- Figure 43: What furniture people plan to buy in the next 12 months, June 2013
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- Figure 44: Profile of those planning to buy furniture in the next 12 months, June 2013
The Consumer – Who Shops Where?
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- Key points
- Leading retailers
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- Figure 45: Furniture shops bought from the in the last 3 years, June 2013
- Comparisons with 2012
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- Figure 46: Furniture shops bought from the in the last 3 years, June 2013
- Customer profiles
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- Figure 47: Shopper profile of leading stores, both online and offline, June 2013
- Online-offline
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- Figure 48: Shopper profiles of leading online and off-line retailers, June 2013
- Repertoire
- Instore
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- Figure 49: Numbers of furniture shops bought from in last three years, June 2013
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- Figure 50: Profile of shoppers by number of furniture stores bought from in the last 3 years, June 2013
- Online
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- Figure 51: Numbers of furniture online retailers bought from in last three years, June 2013
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- Figure 52: Profile of shoppers by number of furniture online sites bought from in the last 3 years, June 2013
- Discussion group comments
The Consumer – Factors in Determining Which Store to Visit
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- Key points
- Key factors
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- Figure 53: Factors important when buying furniture, June 2013
- 2012 and 2013
- Profile of consumers
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- Figure 54: Profile of those liking particular factors in buying furniture, June 2013
- Retailers and key factors in choosing a store
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- Figure 55: Key factors in choosing a store and retailers bought from in last 3 years, June 2013
The Consumer – Online vs In-store
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- Key points
- Online and in-store
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- Figure 56: Attitudes to buying furniture, online and in-store, June 2013
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- Figure 57: Profile of holders of attitudes online vs in-store, June 2013
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- Figure 58: Attitudes to online and in-store of people who have bought furniture in the last 3 years, June 2013
Retailer Profiles
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- DFS
- Background
- Strategic evaluation
- Financial performance
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- Figure 59: DFS financial performance, 2007/08-2011/12
- Store portfolio
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- Figure 60: DFS outlet data, 2008-12
- Retail offering
- Marketing
- Advertising
- E-commerce and home shopping
- Dreams
- Background
- Strategic evaluation
- Financial performance
- Store portfolio
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- Figure 61: Dreams outlet data, 2008-12
- Retail offering
- Marketing and advertising
- E-commerce and home shopping
- Sharps
- Background
- Strategic evaluation
- Financial performance
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- Figure 62: Sharps Bedrooms Ltd., Financial performance, 2012
- Store portfolio
- Retail offering
- Marketing and advertising
- E-commerce and home shopping
- Dwell
- Background
- Administration
- Strategic evaluation
- Financial performance
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- Figure 63: Dwell Retail Limited, Financial performance, 2007/08-2011/12
- Store portfolio
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- Figure 64: Dwell outlet data, 2008-12
- Retail offering
- Marketing and advertising
- E-commerce and home shopping
- Ikea
- Background
- Strategic evaluation
- Financial performance
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- Figure 65: Ikea Limited, Financial performance, 2007/08-2011/12
- Store portfolio
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- Figure 66: Ikea Limited, Outlet data, 2008-12
- Retail offering
- Marketing and advertising
- E-commerce and home shopping
- Nobia UK
- Background
- Strategic evaluation
- Financial performance
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- Figure 67: Nobia UK Group financial performance, 2007-11
- Store portfolio
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- Figure 68: Nobia UK outlet data, 2008-12
- Retail offering
- Marketing and advertising
- E-commerce and home shopping
- Furniture Village
- Background
- Strategic evaluation
- Financial performance
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- Figure 69: Furniture Village, Financial performance, 2007/08-2011/12
- Store portfolio
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- Figure 70: Furniture Village, Store numbers, 2008-12
- Retail offering
- Marketing and advertising
- E-commerce and home shopping
- ScS
- Background
- Strategic evaluation
- Financial performance
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- Figure 71: ScS financial performance, 2007/08-2011/12
- Store portfolio
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- Figure 72: ScS outlet data, 2008-12
- Retail offering
- Marketing and advertising
- E-commerce and home shopping
- Steinhoff
- Background
- Strategic evaluation
- Financial performance
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- Figure 73: Steinhoff UK, Financial performance, 2007/08-2011/12
- Store portfolio
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- Figure 74: Steinhoff, Outlet data, 2008-12
- Retail offering
- Marketing and advertising
- E-commerce and home shopping
- Oak Furniture Land
- Background
- Strategic evaluation
- Financial performance
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- Figure 75: Oak Furniture Land (JB Direct), Financial performance, 2009/10-2011/12
- Store portfolio
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- Figure 76: Oak Furniture Land, 2010-12
- Retail offering
- E-commerce and home shopping
Appendix – The Consumer – Who Owns What
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- Figure 77: Most popular ownership of home furniture, by demographics, June 2013
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- Figure 78: Next most popular ownership of home furniture, by demographics, June 2013
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Appendix – The Consumer – Who Plans To Buy What
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- Figure 79: Most popular plans to buy home furniture in the next 12 months, by demographics, June 2013
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- Figure 80: Next most popular plans to buy home furniture in the next 12 months, by demographics, June 2013
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Appendix – The Consumer – Who Buys Where
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- Figure 81: Most popular where furniture has been bought either instore/online in the last three years, by demographics, June 2013
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- Figure 82: Next most popular where furniture has been bought either instore/online in the last three years, by demographics, June 2013
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- Figure 83: Other where furniture has been bought either instore/online in the last three years, by demographics, June 2013
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- Figure 84: Most popular where furniture has been bought either instore/online in the last three years, by demographics, June 2013
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- Figure 85: Next most popular where furniture has been bought either instore in the last three years, by demographics, June 2013
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- Figure 86: Other where furniture has been bought either instore in the last three years, by demographics, June 2013
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- Figure 87: Least popular where furniture has been bought either instore in the last three years, by demographics, June 2013
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- Figure 88: Most popular where furniture has been bought either instore in the last three years, by demographics, June 2013
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- Figure 89: Next most popular where furniture has been bought either online in the last three years, by demographics, June 2013
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- Figure 90: Next most popular where furniture has been bought either online in the last three years, by demographics, June 2013
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- Figure 91: Other where furniture has been bought either online in the last three years, by demographics, June 2013
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- Figure 92: Least popular where furniture has been bought either online in the last three years, by demographics, June 2013
- Repertoire
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- Figure 93: Where furniture has been bought instore in the last three years, by demographics, June 2013
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- Figure 94: Where furniture has been bought online in the last three years, by demographics, June 2013
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Appendix – The Consumer – Factors in Determining Which Stores to Visit
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- Figure 95: Most popular factors important when buying furniture, by demographics, June 2013
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- Figure 96: Next most popular factors important when buying furniture, by demographics, June 2013
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- Figure 97: Other factors important when buying furniture, by demographics, June 2013
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Appendix – The Consumer Online vs Offline
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- Figure 98: Most popular plans to buy home furniture in the next 12 months, by demographics, June 2013
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- Figure 99: Next most popular plans to buy home furniture in the next 12 months, by demographics, June 2013
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- Figure 100: Other plans to buy home furniture in the next 12 months, by demographics, June 2013
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