United Kingdom (UK) Furniture and Floorcoverings Market Size, Trends, Consumer Attitudes and Key Players, 2021-2026

United Kingdom (UK) Furniture and Floorcoverings Market Size, Trends, Consumer Attitudes and Key Players, 2021-2026

Summary

United Kingdom (UK) Furniture and Floorcoverings Market Size, Trends, Consumer Attitudes and Key Players, 2021-2026 report offers comprehensive insight and analysis of the furniture & floorcoverings market, the major players, key trends, and consumer attitudes. It provides in-depth analysis of the hot issues impacting the market (such as the financial crisis, inflation), strategies for success, market sizes from 2016 and forecasts to 2026, retailer profiles and market shares, and consumer shopping behaviour. Consumer data is based on our 2022 UK How Britain Shops survey, using a panel of 10,000 nationally representative consumers.

The combined furniture & floorcoverings market is set to experience its sharpest decline outside of the pandemic since 2012 as the cost-of-living crisis clamps down on consumer spend. As essential items such as food, utilities and petrol became more expensive, shoppers shifted spend from discretionary areas to more essential purchases. This has impacted furniture retailers hard with DFS, ScS and Wickes seeing demand for furniture cool for periods since April. Shoppers with more discretionary money prioritised leisure and experiences that had been deferred during the pandemic. Inflationary pressures have intensified further, reaching 8.8% in September 2022 with double-digit price rises in food.

Scope

• Furniture and Floorcoverings market to decline in 2022 as consumers cut back discretionary spend
• The main winners in furniture and floorcoverings will include IKEA, Dreams, DFS, Carpetright and Tapi which all benefitted from going against a lockdown comparative in Q1 2022.
• Quality of products continues to rank the highest among consumers, with 91% of people rating it above seven out of ten in importance.

• Using our five year forecasts to 2026, learn which subcategories in the Furniture & Floorcoverings market will be the fastest performing to enable focus and investment in these winning product areas.
• Understand how drivers of Furniture & floorcoverings purchases, such as range, price and quality, vary in importance among different demographics in order to maximise sales potential.
• Use our in-depth analysis of the challenges faced by key retailers in the sector in order to understand how to steal shoppers and market share.