Abstract
This report series covers the five leading economies of Western Europe. The furniture sector is a difficult one to analyse, mainly due to the fact that even these large economies still have very fragmented markets. Smaller specialist players still have an important role to play and make up more than 50% of the furniture sector in the markets we have covered. Furniture is a difficult sector in which to build up significant economies of scale (without going down the IKEA flat pack route), a fact that has protected the independents. However, the arrival of non-specialists and the impact of the successful chains is sure to lead to a greater degree of consolidation in the future.
We have provided profiles of the largest furniture chains in Europe. Smaller profiles have also been provided on other significant players involved in these five markets.
The subject of this report is furniture retailing, however due to the increasing convergence of furniture with other complementary sectors such as electricals and DIY, there are very few large players that now focus on the provision of furniture alone. We have provided information on players that achieve the majority of their turnover from the sale of furniture, so mixed goods retailers such as the grocers or department stores are referred to but no firm coverage is provided of them.
While our spending figures refer to all spending on furniture, retail sales figures are more difficult to separate. In France for example, the retail sales figure for furniture retailers' sales is actually higher than consumer spending in the sector. This can be attributed to the aforementioned sector blending that is seeing more and more furniture specialists expanding their offer into related fields.
The furniture sector is facing major challenges:
- Softer housing market in many countries is reducing the desire to invest in the home and add value.
- Economic issues are undermining consumer confidence leading to greater reluctance regarding the purchase of big-ticket furniture items.
- Specialists are facing greater competition from department stores, grocers and even some clothing retailers.
Table of Contents
- Market in Brief
- The future
- Market size and performance
- The competitive landscape
- Report Scope
- Technical notes
- Financial definitions
- Currencies
- VAT
- Figure 1: Europe: Standard VAT rates, 2007/08
- Other abbreviations
- Broader Market Environment
- Positive factors
- Negative factors
- Population -- growing but greying
- Figure 2: Spain: Population trends, 2003-07
- Figure 3: Spain: Population projections, by age group, 2007 and 2015
- Economy
- GDP -- steady growth in the new millennium
- Figure 4: Spain: Gross domestic product, 1996-2007
- Housing boom driving spending
- Figure 5: Spain: Household consumer expenditure, 1995-2007
- Inflation on the up
- Figure 6: Spain: Consumer prices, 1999-2007
- The Market in Context
- Key findings
- Furniture not a star in the upswing
- Figure 7: Spain: Consumer spending on selected categories of goods,
2003-07
- Channels of Distribution
- Sector Size and Forecast
- Key findings
- Economic outlook
- Retailers' prospects
- Figure 8: Spain: Retail sales, 2003-12
- Recent trends in Spanish furniture retail
- Household goods sector
- Enterprise data
- Figure 9: Spain: Furniture retailers, enterprise numbers, 2001-05
- Consumer Trends
- Marketing messages
- Figure 10: Change in agreement with lifestyle statements relating to the
home in Spain, 2003-07, % points
- Figure 11: Agreement with lifestyle statements relating to the home in
Spain, 2003, 2005 and 2007
- Retail Competitor Analysis
- Key findings
- Leading players
- IKEA' s expansion to gather speed
- Merkamueble goes to France
- Rey Corporacion wants explosive growth
- Conforama standing still?
- Moblerone aims for 75 stores
- Expansion plans
- Figure 12: Spain: Leading players in the furniture sector, 2007
- Market shares and evaluation
- Conforama (PPR)
- Figure 14: Conforama: Sales as share of furniture retailers' sales in
Europe, 2003-07
- Strategic evaluation
- Background
- Financial performance
- Figure 15: Conforama: Group financial performance, 2003-07
- Figure 16: Conforama: Breakdown of sales by geographical area, 2003-07
- France
- Figure 17: Conforama France: Share of spending on furniture, 2003-07
- Figure 18: Conforama France: Share of spending on electricals goods,
2003-07
- Italy
- Figure 19: Conforama: Sales as share of furniture and home appliance
retailers' sales in Italy, 2003-07
- Competitive environment
- Store portfolio
- Figure 20: Conforama: Outlet data, 2003-07
- Figure 21: Conforama: Outlet data, 2003-07
- Figure 22: Conforama: Sales area, 2003-07
- Retail offering
- Figure 23: Conforama: Breakdown of revenue by product category, 2003-07
- E-commerce
- Habitat
- Figure 24: Habitat: Sales as share of furniture retailers' sales in
Europe, 2002/03-2006/07
- Figure 25: Habitat UK: Sales as share of furniture retailers' sales in
UK, 2002/03-2006/07
- Strategic evaluation
- Background
- Financial performance
- Figure 26: Habitat: Group financial performance, 2002/03-2006/07
- Store portfolio
- Figure 27: Habitat: Company-owned outlet numbers, 2008
- Figure 28: Habitat: Outlet data, 2002/03-2006/07
- Retail offering
- Market positioning
- Brands
- Product offer
- Pricing
- Advertising and marketing
- e-commerce and home shopping
- Ikea
- Figure 29: IKEA Europe: Sales as share of furniture retailers' sales in
Europe, 2003-07
- Background
- Strategic evaluation
- Financial performance
- Figure 30: IKEA: Group financial performance, 2002/03-2006/07
- Figure 31: IKEA: Largest markets, 2006/07
- Figure 32: IKEA: Sales as share of furniture retailers' sales in France,
2002/03-2006/07
- Figure 33: IKEA France: Performance, 2002/03-2006/07
- Figure 34: IKEA: Sales as share of furniture retailers' sales in
Germany, 2002/03-2006/07
- Figure 35: IKEA Germany: Performance, 2002/03-2006/07
- Figure 36: IKEA: Sales as share of furniture retailers' sales in Sweden,
2002/03-2006/07
- Figure 37: IKEA Sweden: Performance, 2002/03-2006/07
- Figure 38: IKEA: Sales as share of furniture retailers' sales in UK,
2002/03-2006/07
- Figure 39: IKEA UK: Performance, 2002/03-2006/07
- Store portfolio
- Figure 40: IKEA: Number of stores per country, 2006/07
- Figure 41: IKEA: Outlet data, 2002/03-2006/07
- Figure 42: IKEA: Planned openings, year ending August 2008
- Retail offering
- Retail offer
- Market positioning
- Pricing
- Operational issues
- Figure 43: IKEA: Purchasing by region, 2007
- Advertising
- Brand and loyalty card
- e-commerce
- Figure 44: IKEA: Websites
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