Furniture and Floorcoverings Retailing in the UK| Verdict Market Report

Date: 2016-02

The UK furniture and floorcoverings market is set to enter a period of continued growth over the next five years, though the pace of the recovery will fluctuate. In this report we take a look at how this growth is distributed by channel and sub sector, together with analysis of the implications of these forecasts for retailers.

Key Findings
– Use our market share and channels of distribution to find out which retailers and channels pose the biggest threat

– Identify growth drivers and inhibitors and implement our strategies to boost sales and maximise opportunities in the furniture and floorcoverings sector

While furniture specialists have made significant progress in online, they must continue to work on better linking this channel with their stores. In 2015, IKEA is trialling click and collect in its stores. With websites being used for pre-purchase research, retailers must ensure that their websites are easy to navigate and be informative.

We forecast that kitchens will achieve the greatest uplift in sales between 2015 and 2020, up 20.7% on 2015. This will be driven by improvements the market leader BandQ is doing to improve its offer, the continued expansion of Wren Living, the more buoyant housing market and homeowners spending more time in their kitchens.

In both furniture and floorcoverings, we forecast that the multiple specialists will gain the most amount of share, as customers continue making furniture purchases, open more stores and continue to develop their online presence. In both sectors, this growth will largely be at the expense of independents, who struggle to compete on price and range.

Reasons To Buy
– What is the furniture and floorcoverings market size and how will it develop over the next five years? What is driving and inhibiting consumer spend?

– Which channels have performed the best, and which channels have seen their share of the market decline?

– How will the specialists perform against the emerging remote retailers and DIY retailers up to 2020? How will the department stores compete?

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