Beds and Bedroom Furniture - UK - December 2019
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The bedroom sector is intensely competitive thanks to broad distribution, the loudly heralded entrance of several direct-toconsumer businesses selling boxed mattresses plus the trend for consumer shopping migrating online. Market growth has been steady between 2013 and 2018, up 27% to £3,487 million, helped by growth in household numbers and improving consumer confidence. In 2019 we estimate that the market will grow by a further 3.4% to reach £3,604 million. In the five years from 2019- 24 we forecast further growth of 20%, to reach £4,338 million, helped by demand for better storage and awareness of the importance of good quality sleep. Each of these key themes will encourage higher average transactions. People will increasingly want a tailored look to their rooms, with bedroom furniture with an individual style.
“Marketing themes around bedroom furniture are focusing on storage solutions and the message that controlling your possessions puts you in charge. Meanwhile bed brands and retailers are elevating their status as sleep experts, tapping into growing awareness of the importance of sleep for health and wellness. The entrance and rapid growth of boxed mattress specialists has boosted appreciation of good quality products, however, the boxed mattress brands have yet to move into profit, raising doubts over the future of the sector. Meanwhile Dreams and Sharps, both owned by Sun Capital Partners, are a success story, but several smaller retailers have failed and Bensons (along with its sister businesses) have been sold by Steinhoff to a turnaround company. While IKEA continues to forge ahead, Amazon is taking a bigger position in this market and will probably tempt even more shoppers to go online.”
- Jane Westgarth, Senior Retail Analyst
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