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Furniture & floorcoverings sample pages

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Growth is set to return to the UK floorcoverings market in 2014, though it will trail furniture, increasing by just 1.7% as homeowners prioritise other sectors due to floorcoverings' more hardwearing …

Growth is set to return to the UK floorcoverings market in 2014, though it will trail furniture, increasing by just 1.7% as homeowners prioritise other sectors due to floorcoverings' more hardwearing nature. From 2014 to 2019, floorcoverings is set to grow by 15.1%. In this module we forecast the size of the UK floorcoverings market and three sub-sectors over the next five years. Learn more with sample pages from our Furniture & Floorcoverings Retail in the UK report

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  • 1. Verdict sample pages Furniture & Floorcoverings Retailing in the UK page 2 Expansion of specialists drives upholstery growth The recent expansion of sector leader DFS, as well as the rise of new entrants such as Sofaworks, the recently re-branded CSL will drive growth in upholstery. We forecast that the sector will grow by 2.0% in 2014 on the back of this continued expansion. Growth will also be supported by more retailers, especially non-specialists, offering a bespoke service. The launch of John Lewis’s “Any Shape, Any Fabric” in August 2013 follows on from similar offers at Marks & Spencer, Homebase and Argos. Such an offer enables retailers to provide customers with more value, to significantly increase their range and to highlight their product quality. Kitchen set to achieve the greatest uplift in 2014 The sector that is set to grow the most in 2014 will be kitchens, which we forecast will grow by 3.7%. With customers having little desire or ability to make such purchases throughout the downturn, as well as the high ticket price, the sector contracted sharply. However, as the housing market showed signs of improvement toward the second half of 2013, with sales being made late in the year falling into 2014, one of the main catalysts for the sector is set to return and a proportion of the pent-up demand will be released, which will continue for the next 12 months,. The greater use of a kitchen as a shared space will encourage people to spend more, as will shoppers being in a stronger financial position. Figure 1: Furniture category share of furniture market (%), 2009 and 2014e Source: Verdict V E R D I C T
  • 2. Verdict sample pages Furniture & Floorcoverings Retailing in the UK page 3 Hard floorcoverings Table 1: Hard floorcoverings expenditure, change in value and share of sector, 2014e–19e Expenditure at current prices Change in value Share of sector £m % % 2014e 402 3.2 23.7 2015e 420 4.5 24.1 2016e 439 4.4 24.5 2017e 457 4.2 24.8 2018e 477 4.3 25.2 2019e 498 4.5 25.5 Five year growth rate (%) Average annual growth (%) 2014e–19e 23.9 4.4 – Source: Verdict V E R D I C T Figure 2: Hard floorcoverings expenditure (£m) and growth (%), 2009–19e Source: Verdict V E R D I C T
  • 3. Verdict sample pages Furniture & Floorcoverings Retailing in the UK page 4 IKEA and DFS streak ahead with market share gains Figure 3: Change in retailer share of furniture market (percentage points), 2014e on 2009 Note: shares rounded to one decimal place Source: Verdict V E R D I C T To find out more about the furniture retailing opportunities in the DIY & Home sector please contact enquiries@verdictretail.com The full report is available to purchase in our store. Other products related to DIY & Home retailing in the UK: UK CONSUMER SATISFACTION INDEX 2014 HOMEWARES | VERDICT CONSUMER REPORT UK OUT OF TOWN RETAILING | VERDICT CHANNEL REPORT UK ANNUAL FORECASTS 2014-19: HOMEWARES