Market Trends of United Kingdom Home Furniture Industry
Increasing Expenditure on Furniture and Furnishings in the United Kingdom is Driving the Market
Ongoing population growth and an improvement in the living standards of the United Kingdom are expected to drive demand for space-efficient and reasonably-priced home furniture. UK customers have become more concerned with style and interior design, opening up new markets for bespoke furniture manufacturers. TV shows encouraging the creation, increased income, and a thriving real estate market in many locations have all pushed people to invest in high-quality furniture from smaller producers. Growing expenditure on furniture and furnishing in the UK is creating lucrative growth prospects in the United Kingdom home furniture market.
Consumer trends in the UK furniture market are influenced by factors such as changing lifestyles, home ownership rates, interior design trends, and economic conditions. There is a growing demand for furniture that is stylish, functional, and affordable, with an emphasis on quality and durability. The UK furniture market is characterized by a diverse retail landscape, including furniture stores, department stores, online retailers, and specialty shops. Major players in the market include established brands, independent retailers, and international furniture manufacturers.
Growing Preference to Online Shopping is Driving the Market
Over the past five years, the UK's furniture market has shown robust performance, with local manufacturing accounting for over 45% of the demand. The UK stands as a significant player in furniture production, securing the 4th spot in Europe. In the UK, online retailers dominate furniture distribution, overshadowing other channels like e-commerce, hypermarkets, homeware retailers, and department stores. These online players are not only expanding but also redefining the traditional store model, blurring the lines between online and offline experiences. The e-commerce retailing industry is poised to benefit from the surging demand for online shopping. Moreover, with the growing adoption of internet-connected devices, m-commerce is poised to gain traction, fostering impulse purchases and aiding industry retailers.
Online retailing has become increasingly important in the UK furniture market, with a growing number of consumers opting to shop for furniture online. E-commerce platforms offer a wide selection of furniture products, competitive pricing, and convenient delivery options, driving the growth of online furniture sales. The popularity of home improvement and do-it-yourself (DIY) projects has contributed to the demand for furniture in the UK. Consumers are investing in furniture to enhance their living spaces, update their interiors, and personalize their homes according to their tastes and preferences. There is a growing emphasis on sustainability and eco-friendly products in the UK furniture market.
