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Home Storage Solutions - UK - April 2009

Since 2008, consumer confidence has dipped because of worsening economic conditions, and the housing market has suffered a significant downturn, causing a severe drop in demand for all kinds of furniture and home products. Sales of home storage furniture appear to have dipped in line with the drop in furniture sales, but the desire to de-clutter and make the home tidier and more attractive has helped shore up demand for lower-priced storage accessory items.

The consumer boom of the last 15 years has meant that consumers have accumulated more possessions, and so they need more ways of storing them. Home storage items can provide a low-cost answer to de-cluttering and the fashionable designs introduced by a wide variety of suppliers can transform a utilitarian purchase into a treat.

People frustrated by not being able to move to a larger house may also have an increased desire to revamp their storage in the house they have now. So demand for home storage items is likely to fare better than that for all furniture.

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Table of contents

  1. Issues in the Market

      • Key themes
        • Definitions
          • Abbreviations
          • Future Opportunities

            • Slowing frequency of purchase of furniture
              • Trend from Inspire: Home of the Senses
                • Young people have lots of storage needs
                  • Trend from Inspire: Boomerang Generation
                    • Clearing up the toys
                      • Seasonal clear-ups
                        • Keeping track
                          • Safe keeping
                          • Market in Brief

                            • Tough market conditions
                              • Smaller homes need innovative storage
                                • More kids means more stuff
                                  • Innovative styling
                                    • Argos and IKEA dominate
                                      • Four types of consumers
                                        • Few use self-storage companies
                                          • The future
                                          • Internal Market Environment

                                            • Key points
                                              • Ownership of furniture
                                                • Figure 1: UK: Penetration and purchasing of furniture, by major items, 2004-08
                                              • Pricing in the sector
                                                  • Figure 2: UK: Consumer price indices, all items and furniture and furnishings, 1998-2008
                                                • Competition in the sector
                                                  • Fashion and style
                                                    • Figure 3: Agreement with selected lifestyle statements, 2004-08
                                                • Broader Market Environment

                                                  • Key points
                                                    • Smaller dwellings
                                                      • Figure 4: Number of rooms in the home, 2004 and 2008
                                                    • Trend towards smaller households
                                                      • Figure 5: Number of households, by number of persons in the household, 2004-14
                                                    • The impact of kids
                                                      • Figure 6: Total population, number under age 5 and aged 5-14, 2004-14
                                                    • The economy and the housing market
                                                      • Figure 7: Housing transactions, transactions as a percentage of housing stocks and average time between moves, 2004-08
                                                    • Pressure on disposable income
                                                      • Unemployment
                                                        • What consumers do in a downturn
                                                          • Figure 8: Impact of the credit crunch – key financial groups, December 2008
                                                        • Population trends
                                                          • Figure 9: Trends and projections in UK population, by age group, 2004-14
                                                      • Competitive Context

                                                        • Key points
                                                          • Consumer spending
                                                            • Figure 10: Consumer expenditure, by sector, 2004-08
                                                          • Consumer priorities
                                                            • Figure 11: Expenditure priorities, 2007-09
                                                          • Boot sales and eBay
                                                          • Strengths and Weaknesses in the Market

                                                            • Strengths
                                                              • Weaknesses
                                                              • Who’s Innovating?

                                                                • Key points
                                                                  • IKEA
                                                                    • John Lewis
                                                                      • Next
                                                                        • Argos
                                                                          • HomeStore&More
                                                                            • HomeSense
                                                                              • Self-storage companies
                                                                              • Market Size and Forecast

                                                                                • Key points
                                                                                  • Furniture market
                                                                                    • Figure 12: UK furniture market, at current and constant 2009 prices, 2004-14
                                                                                  • Consumer spend on furniture and furnishings by main segment
                                                                                    • Figure 13: UK retail sales of furniture, by sector, 2004-14
                                                                                  • Home storage plastics and accessories
                                                                                    • Self-storage market
                                                                                      • A challenging future ahead
                                                                                      • Companies and Products

                                                                                        • Key points
                                                                                          • Furniture retailers
                                                                                            • IKEA
                                                                                              • Habitat
                                                                                                • Dunelm
                                                                                                  • Sharps (part of HomeForm Group)
                                                                                                    • General retailers
                                                                                                      • Argos
                                                                                                        • Wilkinson
                                                                                                          • Department stores/clothing stores
                                                                                                            • John Lewis
                                                                                                              • Next
                                                                                                                • Marks & Spencer
                                                                                                                  • DIY stores
                                                                                                                    • B&Q
                                                                                                                      • Homebase
                                                                                                                        • Supermarkets
                                                                                                                          • Tesco
                                                                                                                            • Asda
                                                                                                                              • Sainsbury’s
                                                                                                                                • Other retailers with storage
                                                                                                                                  • Self-storage companies
                                                                                                                                    • Figure 14: Self-storage companies, by number of stores and revenue, 2007/08
                                                                                                                                  • Safestore plc
                                                                                                                                    • Access Self Storage
                                                                                                                                      • Big Yellow Group plc
                                                                                                                                        • Lok’nStore
                                                                                                                                          • Shurgard
                                                                                                                                          • Brand Communication and Promotion

                                                                                                                                            • Key points
                                                                                                                                              • Above-the-line advertising
                                                                                                                                                • Figure 15: Main media advertising expenditure, by furniture retailers and self-storage companies, 2004-08
                                                                                                                                              • Furniture retailers big spenders
                                                                                                                                                • Figure 16: Main media advertising expenditure, by largest furniture retailers, 2004-08
                                                                                                                                            • The Consumer – Purchasing of Home Storage Products

                                                                                                                                              • Key points
                                                                                                                                                • Items purchased
                                                                                                                                                  • Almost half buy plastic boxes
                                                                                                                                                    • Figure 17: Purchasing of home storage products in the last three years, February 2009
                                                                                                                                                  • When the men get involved
                                                                                                                                                    • Kids and clutter
                                                                                                                                                      • Entertain me
                                                                                                                                                        • Home is a stylish place
                                                                                                                                                          • Number of types of products bought
                                                                                                                                                            • Figure 18: Number of types of storage products bought new in the last three years, February 2009
                                                                                                                                                        • The Consumer – Where They Buy Home Storage

                                                                                                                                                          • Key points
                                                                                                                                                            • Where they buy home storage
                                                                                                                                                              • Argos leads the pack
                                                                                                                                                                • Figure 19: Outlets used for buying home storage products in the last three years, February 2009
                                                                                                                                                              • Variety of shopping patterns
                                                                                                                                                                • Figure 20: Home storage products bought in the last three years, by outlets used for buying home storage products, February 2009
                                                                                                                                                                • Figure 21: Outlets used for buying home storage products, by number of storage products bought new in the last three years, February 2009
                                                                                                                                                            • Consumer Attitudes

                                                                                                                                                              • Key points
                                                                                                                                                                • Attitudes towards home storage
                                                                                                                                                                  • Too much stuff
                                                                                                                                                                    • Figure 22: Attitudes towards home storage and clutter in the home, February 2009
                                                                                                                                                                  • How attitudes towards storage influence where they shop
                                                                                                                                                                    • Figure 23: Attitudes towards home storage and clutter in the home, by outlets used for buying home storage products, February 2009
                                                                                                                                                                  • Hoarders may not be so thrifty
                                                                                                                                                                  • Consumer Typologies

                                                                                                                                                                      • Figure 24: Target groups on attitudes towards home storage, February 2009
                                                                                                                                                                    • Space Concerned (17%)
                                                                                                                                                                      • Apathetic (33%)
                                                                                                                                                                        • Hoarders (22%)
                                                                                                                                                                          • Regular Sorters (28%)
                                                                                                                                                                              • Figure 25: Outlets used for buying home storage products, by target groups on attitudes towards home storage, February 2009
                                                                                                                                                                              • Figure 26: Numbers of home storage products bought new in the last three years, by target groups on attitudes towards home storage, February 2009
                                                                                                                                                                          • Appendix – Purchasing of Home Storage Products

                                                                                                                                                                              • Figure 27: Purchasing of home storage products in the last three years, by detailed demographics, February 2009
                                                                                                                                                                              • Figure 28: Purchasing of home storage products in the last three years, by detailed demographics, February 2009
                                                                                                                                                                          • Appendix – Where They Buy Home Storage

                                                                                                                                                                              • Figure 29: Outlets used for buying home storage products in the last three years, by detailed demographics, February 2009
                                                                                                                                                                          • Appendix – Consumer Attitudes

                                                                                                                                                                              • Figure 30: Attitudes towards home storage and clutter in the home, by detailed demographics, February 2009
                                                                                                                                                                              • Figure 31: Attitudes towards home storage and clutter in the home, by detailed demographics, February 2009
                                                                                                                                                                              • Figure 32: Attitudes towards home storage and clutter in the home, by detailed demographics, February 2009
                                                                                                                                                                          • Appendix – Consumer Typologies

                                                                                                                                                                              • Figure 33: Target groups on attitudes towards home storage, by detailed demographics, February 2009

                                                                                                                                                                          Companies Covered

                                                                                                                                                                          • Aldi Stores Ltd (UK & Ireland)
                                                                                                                                                                          • Argos
                                                                                                                                                                          • Asda Group Ltd
                                                                                                                                                                          • British Market Research Bureau (BMRB)
                                                                                                                                                                          • Co-operative Group
                                                                                                                                                                          • Debenhams Total (GTV)
                                                                                                                                                                          • Government Actuary's Department (GAD)
                                                                                                                                                                          • Habitat
                                                                                                                                                                          • Home Retail Group
                                                                                                                                                                          • Homebase Ltd
                                                                                                                                                                          • IKEA
                                                                                                                                                                          • J. Sainsbury
                                                                                                                                                                          • John Lewis Plc (department store)
                                                                                                                                                                          • Jysk
                                                                                                                                                                          • Kingfisher UK & Ireland
                                                                                                                                                                          • Land of Leather Ltd
                                                                                                                                                                          • Lidl (UK)
                                                                                                                                                                          • Marks & Spencer
                                                                                                                                                                          • Matalan Ltd
                                                                                                                                                                          • MFI Furniture Group Plc
                                                                                                                                                                          • Poundstretcher Ltd
                                                                                                                                                                          • Robert Dyas Holdings
                                                                                                                                                                          • Safestore Ltd.
                                                                                                                                                                          • Somerfield
                                                                                                                                                                          • Tesco Plc
                                                                                                                                                                          • The HomeForm Group
                                                                                                                                                                          • The TJX Companies
                                                                                                                                                                          • Travis Perkins Retail
                                                                                                                                                                          • Waitrose
                                                                                                                                                                          • Woolworths Group plc

                                                                                                                                                                          Home Storage Solutions - UK - April 2009

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