Table of Contents
Executive Summary
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- The market
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- Figure 1: Consumer spending on furniture and furnishings, 2009-19
- Figure 2: Consumer spending on furniture and furnishings, by category, 2013
- Figure 3: Trends in how respondents would describe their financial situation, February 2009-August 2014
- Sales by furniture specialists
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- FIGURE 4: Furniture specialists' sales, 2009-14
- Companies, brands and innovation
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- Figure 5: Furniture, channels of distribution, 2014 (est)
- Figure 6: Furniture, market shares by major retailers, 2014 (est)
- The consumer
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- Figure 7: Spend on furniture in the last 12 months, October 2014
- Rooms furniture was bought for
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- Figure 8: Rooms people have bought furniture in the last three years, October 2014
- Where they shopped
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- Figure 9: Retailers used for furniture for in the last three years, October 2014
- What triggered a furniture purchase?
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- Figure 10: Reasons why people bought furniture, October 2014
- The customer journey when buying furniture
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- Figure 11: Shopping for furniture – preferences – people who have bought furniture in the last three years, October 2014
- Store visits preferred for comparing quality and viewing items
- What we think
Issues and Insights
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- What is the shopping journey for furniture?
- The facts
- The implications
- What is the ideal size for a furniture chain?
- The facts
- The implications
- What is the role of furniture brands in furniture retailing?
- The facts
- The implications
Trend Application
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- Trend: Guiding Choice
- Trend: Who are the Joneses?
- Trend: Minimize Me
The Market Environment
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- Key points
- Growing consumer confidence
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- Figure 12: Trends in how respondents would describe their financial situation, February 2009-August 2014
- Figure 13: Change in consumer prices for furniture and furnishings, 2009-13
- Buoyant housing market
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- Figure 14: Residential property transactions, UK, 2009-13
- 41% of homes have a separate dining room
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- Figure 15: Kitchens and eating arrangements, June 2014
- Multigeneration homes
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- Figure 16: Percentage of men and women aged 20-34 living with parents, by age, UK, 2013
- Figure 17: Household composition with or without dependent children in 2001 and 2011, England and Wales
- Demographic changes
Who’s Innovating?
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- Key points
- Oak Furniture Land expands into upholstery
- Harveys rolls out new store design
- IKEA visits people at home
- Made.com opens a working showroom
- DFS buys up existing brands
- Enhancing the digital experience
Market Size and Forecast
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- Key points
- Forecast for consumer spending
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- Figure 18: Consumer spending on furniture and furnishings, 2009-19
- The big picture
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- Figure 19: Consumer spending on furniture and furnishings, 2009-14
- Key home furniture markets
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- Figure 20: Consumer spending on furniture and furnishings, by category, 2013
- Figure 21: Consumer spending on furniture, by main category, 2009-14
Furniture Specialists’ Sales
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- Key points
- Sales by furniture specialists
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- Figure 22: Furniture specialists' sales, 2009-14
- Figure 23: Furniture retailers’ sales as % all non-food retailers’ sales, 2009-14
Strengths and Weaknesses
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- Strengths
- Weaknesses
Competitive Context
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- Key points
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- Figure 24: Consumer spending on selected categories for the home, 2009-14
Channels of Distribution
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- Key points
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- Figure 25: Furniture, channels of distribution, 2014 (est)
- Diverse range of furniture retailers
- Category specialists are significant
- General specialists
- Some specialists extending their range
- Argos is the largest non-specialist
- DIY shifting emphasis into home enhancement
- Major non-specialists growing
- Other retailers on the march
- Shopping from home or on the move
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- Figure 26: Home furnishings, online audience, 2014
- Independents
Space Allocation Summary
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- Key points
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- Figure 27: Major furniture retailers: Percentage share of total floor selling space devoted to furniture, furniture-related and non-furniture products, November 2014
- Detailed space analysis
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- Figure 28: IKEA Swedish Food market, Wembley, November 2014
- Figure 29: Major furniture retailers: Detailed space allocation, November 2014
- Retail product mix
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- Figure 30: Leading furniture retailers: Estimated furniture sales by product, 2013/14
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- Figure 31: Leading furniture retailers: Implied sales density, 2013/14
Retail Competitor Analysis
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- Key points
- Leading furniture specialists’ sales
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- Figure 32: Leading specialist furniture retailers’ sales, 2008/09-2013/14
- Rising stars
- Leading furniture specialists’ operating profits
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- Figure 33: Leading furniture specialists’ operating profits, 2008/09-2013/14
- Leading furniture specialists’ operating margins
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- Figure 34: Leading furniture specialists’ operating margins, 2008/09-2013/14
- Leading furniture specialists’ outlet numbers
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- Figure 35: Leading furniture specialists’ outlet numbers, 2009/10-2013/14
- Leading furniture specialists’ sales per outlet
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- Figure 36: Leading furniture specialists’ sales per outlet, 2009/10-2013/14
- Leading furniture specialists’ sales per square metre
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- Figure 37: Leading furniture specialists’ sales per square metre, 2009/10-2013/14
- Total sales of leading non-specialists that sell furniture
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- Figure 38: Total sales of leading non-specialists that sell furniture, 2009/10-2013/14
- Estimated furniture sales of leading non-specialists
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- Figure 39: Estimated furniture sales of leading non-specialists, 2013/14
Market Shares
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- Key points
- Share of furniture spending
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- Figure 40: Leading retailers of furniture, share of all spend on furniture and furnishings, 2009-13
- Winners and losers
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- Figure 41: Furniture, market share by major retailer, percentage points change, 2009-13
- Share of the specialists sector
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- Figure 42: Leading specialist retailers of furniture, share of furniture retailers’ sales, 2009-13
Brand Communication and Promotion
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- Key points
- Advertising spend falls
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- Figure 43: Main media advertising expenditure on furniture and furnishings, 2010-13
- DFS dominates the advertising spend
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- Figure 44: Main media advertising expenditure on furniture and furnishings, by top 10 advertisers, 2010-13
- Figure 45: Main media advertising expenditure on furniture and furnishings, 2013
- Advertising by media type
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- Figure 46: Main media advertising expenditure on furniture and furnishings, by media type, 2013
- Figure 47: Main media advertising expenditure on furniture and furnishings, by media type, 2010-13
- How the year shapes up
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- Figure 48: Main media advertising expenditure on furniture and furnishings, by month, 2013
- Figure 49: Advertising spend, January-October 2013 and 2014
Brand Research
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- Brand map
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- Figure 50: Attitudes towards and usage of brands in the furniture retailing sector, October 2014
- Correspondence analysis
- Brand attitudes
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- Figure 51: Attitudes, by furniture retailing brand, October 2014
- Brand personality
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- Figure 52: Furniture retailing brand personality – macro image, October 2014
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- Figure 53: Furniture retailing brand personality – micro image, October 2014
- Brand experience
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- Figure 54: Furniture retailing brand usage, October 2014
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- Figure 55: Satisfaction with various furniture retailing brands, October 2014
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- Figure 56: Consideration of furniture retailing brands, October 2014
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- Figure 57: Consumer perceptions of current furniture retailing brand performance, October 2014
- Brand recommendation
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- Figure 58: Recommendation of selected furniture retailing brands, October 2014
The Consumer – Spend on Furniture
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- Key points
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- Figure 59: Spend on furniture in the last 12 months, October 2014
The Consumer – Rooms People Have Bought Furniture For
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- Key points
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- Figure 60: Number of rooms people have bought furniture for in the last three years, October 2014
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- Figure 61: Rooms people have bought furniture for in the last three years, October 2014
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- Figure 62: Refitting kitchens in the last three years, July 2013 and June 2014
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- Figure 63: Bathroom fittings and accessories purchased in the last three years, 2013 and 2014
The Consumer – Retailers Used For Furniture
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- Key points
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- Figure 64: Retailers used for furniture for in the last three years, October 2014
- 56% of purchasers in the London area bought at IKEA
- DFS attracts young, well-off shoppers
- Argos serves the less wealthy
- 25-34s attracted to bed specialists
- Furniture specialists attract wealthier customers
- Independents serve an older customer
- John Lewis customers have healthy finances
- How many retailers they use
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- Figure 65: Repertoire of any retailers used, either in-store or online, October 2014
The Consumer – Reasons for Purchasing Furniture
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- Key points
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- Figure 66: Reasons why people bought furniture, October 2014
- Replacing worn or damaged
- Following a house move
- Fancying something new
- Extra storage matters to Londoners
- Extra workspace popular among renters
- Greater comfort for the over-65s
- Furnishing a home extension
The Consumer – Shopping Patterns
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- Key points
- What people who have bought furniture say
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- Figure 67: Shopping for furniture – preferences – purchasers, October 2014
- Store visits preferred for comparing quality and viewing items
- Internet preferred for ideas and price comparisons
- Ideas from catalogues
- Advice, deliveries and credit – split fairly evenly
- What people who have not bought furniture in the last three years say
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- Figure 68: Shopping for furniture – preferences – non-purchasers, October 2014
Retailer Profiles
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- DFS
- Background
- Strategic evaluation
- Financial performance
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- Figure 69: DFS financial performance, 2009-13
- Store portfolio
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- Figure 70: DFS outlet data, 2010-14
- 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, 2009-14
- Retail offering
- Marketing
- Advertising
- E-commerce and home shopping
- Sharps
- Background
- Strategic evaluation
- Financial performance
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- Figure 71: Sharps financial performance, 2012 and 2013
- Store portfolio
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- Figure 72: Sharps outlet data, 2012-14
- Retail offering
- Marketing
- Advertising
- E-commerce and home shopping
- IKEA
- Background
- Strategic evaluation
- Financial performance
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- Figure 73: IKEA financial performance, 2009-13
- Store portfolio
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- Figure 74: IKEA outlet data, 2010-14
- Retail offering
- Marketing
- Advertising
- E-commerce and home shopping
- Furniture Village
- Background
- Strategic evaluation
- Financial performance
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- Figure 75: Furniture Village financial performance, 2010-14
- Store portfolio
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- Figure 76: Furniture Village outlet data, 2010-14
- Retail offering
- Marketing
- Advertising
- E-commerce and home shopping
- ScS Sofas
- Background
- Strategic evaluation
- Financial performance
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- Figure 77: ScS financial performance, 2009-13
- Store portfolio
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- Figure 78: ScS outlet data, 2009-13
- Retail offering
- Marketing
- Advertising
- E-commerce and home shopping
- Steinhoff
- Background
- Strategic evaluation
- Financial performance
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- Figure 79: Steinhoff financial performance, 2009-13
- Store portfolio
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- Figure 80: Steinhoff UK, outlets, 2009-13
- Retail offering
- Marketing
- Advertising
- E-commerce and home shopping
- Oak Furniture Land
- Background
- Strategic evaluation
- Financial performance
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- Figure 81: Oak Furniture Land financial performance, 2009-13
- Store portfolio
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- Figure 82: Oak Furniture Land outlet data, 2010-13
- Retail offering
- Marketing
- Advertising
- E-commerce and home shopping
- The Range (previously CDS Superstores)
- Background
- Strategic evaluation
- Financial performance
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- Figure 83: The Range financial performance, 2010-14
- Store portfolio
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- Figure 84: The Range outlet data, 2010-14
- Retail offering
- Marketing and advertising
- E-commerce and home shopping
- Wren
- Background
- Strategic evaluation
- Financial performance
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- Figure 85: Wren company financial performance, 2010-13
- Store portfolio
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- Figure 86: Wren outlet data, 2010-13
- Retail offering
- Marketing and advertising
- E-commerce and home shopping
- Sofaworks (previously CS Lounge Suites)
- Background
- Strategic evaluation
- Financial performance
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- Figure 87: Sofaworks financial performance, 2009-13
- Store portfolio
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- Figure 88: Sofaworks outlet data, 2009-13
- Retail offering
- Marketing
- Advertising
- E-commerce and home shopping
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