UK Furniture Retailing Market Report 2023
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Stay ahead of the curve and secure future growth for your business with Mintel’s UK Furniture Retailing Market Report 2023. Our full report features nearly 100 pages of consumer-led market intelligence, the latest trends and consumer behaviours affecting your industry. Get a 360° view of the furniture retail market including market size, share and forecasted growth to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
The UK furniture market has already been impacted by a natural rebalancing of demand post-pandemic, and now the continuation of the cost-of-living crisis has further hampered consumer demand for furniture.
Once the worst is over and consumer demand returns, the sector will face a challenge from the growing might of the second-hand market.
A legacy of the pandemic is consumers’ newfound appreciation of the home, and buying furniture has become a form of self-indulgence. Mintel’s research found that almost half of UK consumers who bought furniture in the past 12 months saw this as a way to treat themselves. Furthermore, with furniture purchases now extending beyond functionality, over-two thirds of consumers are willing to spend more on high-quality products with longevity.
Since pandemic restrictions have been lifted, there has been a growing appetite for reconnecting with in-store shopping experiences. The growth of store-based sales in the cost-of-living crisis highlights that price is not always the ultimate shopping driver. There are opportunities for retailers to tempt consumers back into stores by responding to the growing trend for DIY and upcycling pre owned furniture.
This market research report covers the retailing of the following types of furniture: Living and dining room furniture, bedroom furniture including beds and mattresses, and home office furniture. Further segmental detail can also be found in Mintel’s UK Bedroom Furniture Market Report and UK Living and Dining Room Furniture Market Report.
The report includes information on the market size and share of leading UK furniture retail brands such as IKEA, DFS, Wren Kitchens, Furniture Village, Dunelm, and more.
Purchase our full UK Furniture Retailing Market Report 2023 to discover lucrative opportunities to help your business grow during times of financial uncertainty.
This report, written by Sam Nguyen, a leading retail analyst, delivers in-depth commentary and analysis to highlight current trends in the uk furniture retail market and add expert context to the numbers.
Already impacted by a natural rebalancing of demand post-pandemic, the cost-of-living crisis has further hit consumer spending, especially on big-ticket items like furniture. However, it’s not always about trading down. 67% of consumers would prefer to trade up to high-quality items with longevity and 42% bought new furniture to treat themselves. While uncertainty remains ahead, the newfound appreciation towards the home as a legacy of the pandemic will continue to fuel new demand, with furniture extending beyond its practical functionality to serve as a form of self-indulgence.
Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.
Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.
Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.
Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.
*databooks not available with UK B2B Industry reports.
Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.