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News Release from: AMA Research | Subject: Domestic Bedroom Furniture Market report
Edited by the Buildingtalk Editorial
Team on 05 March 2008
Domestic Bedroom Furniture Market - UK
2008-2012
New AMA report on Bedroom Furniture market estimate it to be worth approximately GBP520m in 2007 representing approximately 13% of the overall Domestic Furniture market.
New AMA report provides a detailed review of a market under pressure Priced at GBP625, the report is currently available from AMA Research.Domestic Bedroom Furniture Market 2008-2012 This report was first published in 1992 and this 9th Edition assesses developments within the domestic bedroom furniture market in the light of the current economic climate and provides an overall analysis of the market, with indications of threats and opportunities likely to affect future performance of the sector
This article was originally published on Buildingtalk on 22 Jul 2003 at 8.00am (UK)
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The bedroom furniture market is mature, and growth has been relatively modest during the past few years.
This has been particularly evident during the second half of 2007, as the recent 'tightening up' of consumer credit, high interest rates and a declining housing market began to inhibit consumer spending, particularly in terms of 'big ticket' items such as furniture.
In addition, bedrooms have traditionally been considered a less important area of the home than kitchens and bathrooms and other more 'visible' or high profile rooms.
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The UK Bedroom Furniture market was estimated to be worth approximately £520m (MSP) in 2007 representing approximately 13% of the overall Domestic Furniture market.
Growth has been minimal in recent years, though more specialised sectors have enjoyed stronger market conditions.
Other than the economy, pressures within the domestic furniture market include the rapid penetration of low-cost imports driving down prices and margins, increasing input costs (transport, raw materials, labour), as well as the entry into the market of a number of high profile players, including Tesco and newcomer Ilva.
These new entrants are widely expected to have an impact on the market and provide stronger competition for more established retailers such as IKEA and MFI.
Growing competition is also reflected in the increasing number of liquidations in the sector, both at manufacturer and retail level, reflecting a mature market and changes in the supply chain.
The nature of furniture retailing is evolving.
Online sales are increasing and, while this may be beneficial to smaller suppliers unable to afford a significant High Street presence, it is also placing additional demands on all companies in terms of distribution and customer services.
In addition, use of alternative materials is changing, with the decline of pine accelerating in recent years in favour of a wider range of more contemporary materials and styles.
In general, it appears that short term prospects for 2008 are likely to be relatively difficult with no growth forecast.
Most of the future growth within the bedroom furniture sector is expected to come from the lower end rather than the higher end of the market, driven by companies such as IKEA, with their range of affordable and innovative products, the expanding variety of cheap imports, and the ongoing expansion of the buy-to-let sector.
However, design innovation will provide some opportunities for differentiation and margin protection, though these are likely to remain in niche markets, while a long term increase in housebuilding will also offer underlying demand for well-designed bedroom furniture.
AMA Research's "Domestic Bedroom Furniture Market UK 2008-2012" report is available in hard copy or electronic format for £625 and can be ordered online or by calling 0871 3103450.
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