Abstract
INTRODUCTION and OVERVIEW
AMA Research are pleased to announce the publication of the 11th edition of
the report: 'Domestic Bedroom Furniture Market Report - UK 2012-2016
Analysis'. The report includes up to date information on recent trends and
issues that continue to impact on the market.
The report contains:
- A DETAILED ASSESSMENT OF THE MARKET - analysis of major
developments and current and future trends.
- REVIEW OF KEY MATERIAL AND SECTOR TRENDS.
- REVIEW OF THE SUPPLY AND DISTRIBUTION STRUCTURE - assessment of
impact of import levels on UK firms.
- FORECASTS MARKET DEVELOPMENTS UP TO 2016.
The market has followed an interesting path in recent years, with a relatively
static performance in the middle of the decade followed by a downturn in the
market in 2008 and 2009, in common with many other consumer durable markets.
Sales since then have been broadly stable in value terms, although volumes
have continued to decline.
In the case of the bedroom furniture sector, the market has been more badly
affected than the kitchen sector, perhaps because of the higher profile of the
kitchen in consumers' minds or the continuing promotion by the national
retailers involved in that market. The bedroom market tends to be driven to a
greater extent by need, rather than desire, as in the case of the kitchen
furniture market for example, although both sectors have suffered in recent
years.
The market has been difficult and highly competitive and the report examines
the various aspects underpinning different sectors and driving change in the
industry and assesses the likely future prospects for the sector through to
2016.
Areas of particular interest:
- Market performance of bedroom furniture sectors, including
underlying growth factors, trends and future prospects.
- Why has the bedroom furniture market fared worse than other sectors?
- The changing role of the bedroom as smaller homes put pressure to
use space efficiently. Growing need for multi-purpose furniture and
good design.
- Development of niche sectors such as children's bedroom furniture
and sliding wardrobe door systems, together with an increase in demand for
multi-functional bedroom furniture since 2007.
Leading companies mentioned in the report include:
Alstons (Cabinets), Andrena Furniture, Bebecar (UK), Canburg, Carlton
Furniture, Charles Barr Furniture, Chartley Furniture Design, Corndell
Furniture Co, Crown Products (Kent), Daval Furniture, Dean House, Ercol
Furniture, Eric Bates & Sons, Flexa Furniture, Gautier, H. Morris & Co,
Hammonds Furniture, Hulsta Furniture (UK), Kingstown Holdings, Neville
Johnson, Paragon Interior Furniture, Sharps Bedrooms, Spacemaker Bedrooms,
Stompa UK, Strachan Furniture Makers, The Symphony Group, Thuka Furniture,
Whiteleaf Furniture, William Ball, Willis Gambier (UK), Woodberry Bros and
Haines, Wren Kitchens and Bathrooms.
Key areas covered in the report include:
THE MARKET
- UK domestic bedroom furniture market, market definition, size and
current situation 2006-2011, recent market performance, factors underpinning
demand and restricting growth.
- Growth in imports and change in level of exports 2002 to 2011,
supply mix and countries of origin of imports.
- Key market influences, including levels of construction, housing
market, economic trends, impact of global credit crisis, short-term prospects
and so on.
- Future prospects - market size and forecast trends up to 2016.
- Trends in terms of fitted and freestanding furniture, home office,
recreational and multi-purpose furniture.
- Overall UK furniture market size, key drivers and recent trends.
PRODUCT MIX
- Bedroom furniture by type, i.e. fitted or freestanding, product mix
and recent trends.
- Key factors driving growth and change in the industry - pressure on
space, demands from children/youngsters, technology impacts, etc.
- Product mix, flat pack and rigid - market share, trends, driving
factors etc.
- Style and design trends, growth in niche sectors, mix between
contemporary and traditional styles.
- Growth sectors, i.e. storage, children's and teenagers' bedroom
furniture - shares, recent trends, future prospects, market drivers etc.
- Materials and finishes, share by materials and trends.
DISTRIBUTION/SUPPLIERS
- Changes in market structure - consolidation in supply structure,
growth of imports etc.
- Major furniture manufacturers and suppliers by turnover size and
market share - recent changes, market positioning etc.
- Major distribution channels, and share by type of outlet -
Furniture Multiples, Independents, Mail Order/Catalogue, Specialists, Dept.
Stores/Variety Stores/DIY etc.
- Key companies, by type of outlet - major players.
FUTURE PROSPECTS
- Key growth areas - prospects for 2012 and up to 2016.
- Important developments in the major product and market sectors.
- Review of key economic factors impacting the market.
SUMMARY OF REPORT CONTENTS
The UK Bedroom Furniture market was estimated to be worth approximately
£575m (MSP) in 2011, representing approximately 12% of the overall
Domestic Furniture market. Following substantial growth in the early 2000's,
the market became more difficult and as the decade progressed experienced
significant declines in 2008 (4%) and 2009 (6%). As a result the share of the
overall furniture market has declined since 2002.
The onset of the housing crisis towards the end of 2007 and the impact of the
global credit crunch, resulting in the world economic recession, reduced
levels of consumer confidence. Other pressures within the domestic furniture
market have included the rapid penetration of low cost imports from the Far
East and Eastern Europe, which has driven down prices and margins.
Other constraints include increased competition from a number of high profile
players, including IKEA, Argos, Shop Direct, together with threats from
newcomers, such as Tesco and Asda. Growing competition in a declining market
is also reflected in the increasing number of liquidations in the sector, both
at manufacturer and retail level, although no major retailer has failed, since
MFI, a market leader in this sector, went into liquidation.
Many of the UK fitted furniture suppliers are vertically integrated companies,
involved in the design, manufacture and installation of their own furniture
and often marketed through their own retail outlets or via concessions in
other stores
Whilst imports have increased significantly in the last decade and currently
account for around 69% of the bedroom furniture market, most fitted furniture
is manufactured in the UK. However, not all imports are in the budget sector,
since Germany, Italy and Denmark accounted for 13% of imports in 2011. This
compares with China, whose exports of bedroom furniture to the UK were
increasing annually until 2011 and reached £136.4m in that year,
representing 34.3% of UK total imports in this category.
Modular furniture continues to be popular and the trend towards smaller houses
and households will sustain this trend, as demand for clever storage solutions
continues to grow. Solid wood furniture or finishes remain in high demand in
the medium to upper sector of the market, however, the variety and range of
contemporary styles in alternative woods is also increasing, as is the demand
for painted finishes.
Most of any future growth within the bedroom furniture sector is expected to
come from the lower end of the market and in the short term this sector may
gain at the expense of the medium to higher priced end, driven by companies
such as IKEA, Argos and Tesco, with their ranges of affordable and innovative
products, together with the expanding variety of cheap imports available in
other outlets. Internet and catalogue retailers will increase their share of
overall sales, and most types of outlet will increase the proportion of their
products sold via the Internet.
In general, it appears that short term prospects for the next 5 years are
likely to prove relatively difficult for the overall furniture industry, with
forecasts showing little or very modest volume growth. The bedroom furniture
market is forecast to show slow but increasing growth in the next few years,
reaching a value of £650m in 2016, compared to an estimated £575m
in 2011.
Table of Contents
CONTENTS and LIST OF TABLES & CHARTS
1 INTRODUCTION
- 1.1 BACKGROUND
- 1.2 SOURCES OF INFORMATION
2 SUMMARY AND FUTURE PROSPECTS
- 2.1 SUMMARY
- 2.2 FUTURE PROSPECTS
3 ECONOMIC ENVIRONMENT
- 3.1 GDP
- 3.2 INFLATION & INTEREST RATES
- 3.3 UNEMPLOYMENT
- 3.4 HOUSEHOLD CONSUMPTION
- 3.5 STERLING
- 3.6 POPULATION PROFILE
- 3.7 CONCLUSIONS
4 THE OVERALL UK FURNITURE MARKET & HOUSING INFLUENCES
- 4.1 OVERALL FURNITURE MARKET SIZE AND TRENDS
- 4.2 CONSUMER CHARACTERISTICS
- 4.3 HOUSING TRENDS AND DEMOGRAPHICS
- 4.3.1 New Housebuilding
- 4.3.2 House Moving
- 4.3.3 Household Size
- 4.4 NON DOMESTIC CONSTRUCTION
5 THE UK BEDROOM FURNITURE MARKET
- 5.1 MARKET DEFINITION
- 5.2 MARKET SIZE AND CURRENT SITUATION
- 5.3 MARKET PROSPECTS
- 5.4 OVERALL MARKET TRENDS
- 5.5 IMPORTS AND EXPORTS
6 PRODUCT MIX
- 6.1 PRODUCT DEFINITION
- 6.2 FITTED AND FREESTANDING BEDROOM FURNITURE
- 6.3 TYPE OF BEDROOM FURNITURE FLAT PACK AND RIGID
- 6.4 PRODUCT DESIGN
- 6.4.1 Design Trends
- 6.4.2 Storage Solutions
- 6.4.3 Children's and Teenagers' Bedroom Furniture
- 6.4.4 Sliding Wardrobe Door Systems
- 6.5 MATERIALS AND FINISHES
- 6.5.1 Wood
- 6.5.2 Other Materials and Finishes
7 BEDROOM FURNITURE SUPPLIERS
- 7.1 MARKET SHARE
- 7.2 MAJOR SUPPLIERS
- 7.3 OTHER SUPPLIERS:
8 DISTRIBUTION
- 8.1 STRUCTURE
- 8.2 FURNITURE MULTIPLES
- 8.3 RETAIL SPECIALISTS
- 8.4 MAIL ORDER AND CATALOGUE RETAILERS
- 8.5 FURNITURE INDEPENDENTS
- 8.6 DEPARTMENT STORES AND VARIETY CHAINS
- 8.6.1 Department Stores
- 8.6.2 Variety Chains
- 8.7 DIY MULTIPLES
- 8.8 OTHERS
- 8.8.1 The Internet
- 8.8.2 Grocery Multiples
TABLES AND CHARTS
- TABLE 1 UK DOMESTIC BEDROOM FURNITURE MARKET 2006-2016 - £M MSP
- CHART 2 INTEREST RATES AND INFLATION (CPI) FROM 1992-2016
- CHART 3 PDI & SAVINGS RATIO AT CURRENT PRICES 1992-2016
- TABLE 4 EXCHANGE RATE FLUCTUATIONS 2006-2012 - STERLING TO THE DOLLAR, AND
THE EURO, SPOT RATES
- CHART 5 AGE DISTRIBUTION OF THE RESIDENT UK POPULATION MID-2010 ('000)
- TABLE 6 THE UK MARKET FOR DOMESTIC FURNITURE 2006-2011 (£M MSP)
- CHART 7 UK MARKET MIX OF FURNITURE 2000, 2005 & 2011
- TABLE 8 AVERAGE WEEKLY HOUSEHOLD EXPENDITURE
- TABLE 9 HOUSE BUILDING COMPLETIONS (GREAT BRITAIN) 2006-2015 BY VOLUME
('000 DWELLINGS)
- CHART 10 HOUSE BUILDING COMPLETIONS (ENGLAND) 2001-2011 BY TYPE OF
DWELLING - %
- TABLE 11 NUMBER OF PROPERTY TRANSACTIONS IN THE UK 2006-2014 (000'S)
- TABLE 12 AVERAGE HOUSEHOLD SIZE FOR GREAT BRITAIN 1991-2016
- CHART 13 UK DOMESTIC BEDROOM FURNITURE MARKET 2006-2016 - £M MSP
- TABLE 14 IMPORTS AND EXPORTS OF WOODEN BEDROOM FURNITURE 2002-2011 BY
VALUE (£M)
- CHART 15 % SUPPLY MIX IN THE UK BEDROOM FURNITURE MARKET 2000, 2005 AND
2011
- TABLE 16 COUNTRIES OF ORIGIN FOR IMPORTS OF WOODEN BEDROOM FURNITURE
2009-2011 MARKET SHARE BY VALUE (£M)
- CHART 17 MIX OF FITTED & FREESTANDING BEDROOM FURNITURE - 2011 BY VALUE
- TABLE 18 FITTED AND NON-FITTED KITCHEN, BEDROOM AND BATHROOM FURNITURE
MARKET SHARE BY VALUE 2011
- CHART 19 THE UK BEDROOM FURNITURE MARKET - VALUE MIX OF RIGID/FLAT PACK
2001-2011
- CHART 20 MIX OF CONTEMPORARY/TRADITIONAL STYLES OF BEDROOM FURNITURE 2011
- CHART 21 MIX OF CHILDREN'S & TEENAGE/ADULT BEDROOM FURNITURE 2011
- TABLE 22 MARKET SHARE OF MAJOR BEDROOM FURNITURE SUPPLIERS 2011 - BY VALUE
- TABLE 23 DISTRIBUTION OF BEDROOM FURNITURE - 2011 BY VALUE SHARE
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