Homewares - UK - January 2014
“In a market flooded with low-priced goods, retailers face a steep challenge to encourage people to trade up and spend more. We expect to see more investment in exclusive brands and designs as retailers strive to differentiate themselves from competitors including online discounters. And retailers will continue to make more efforts to inspire customers to assemble a coordinated look, using displays, catalogues and online technology to help improve the design literacy of today’s home makers.”
– Jane Westgarth, Senior Market Analyst
Some questions answered in this report include:
- What is the future for specialist retailers of homewares?
- The market is dominated by low-priced mass market retailers, so how can retailers add value?
- How influential is online retailing in the market for homewares?
- A lot of celebrities endorse homewares but does it influence consumers?
- What role does style play in shaping demand for homewares?
In the homewares market, there has been growth at the value end of the market through a wide range of retailers. These span the excellent value chains like Home Bargains and The Range, strong high street retailers such as Wilkinson, the vast supermarket chains and the iconic and stylish Ikea. This report examines people’s attitudes to what they pay for their homewares and considers some of the factors that differentiate the higher-priced shoppers from the value-driven.
Demand was certainly dented by the recession that followed the credit crunch. There was a perfect storm – fewer house moves, squeezed incomes and uncertainty about the future. But things have perked up, thanks to more movement within the housing market. And the outlook is looking better still as the key shoppers for homewares, the 25-34s and ABs, grow in numbers.
Homewares enjoy broad availability of products through a wide range of different retailers, both online and offline. With such fragmented distribution we take a look at what motivates people, where they go to shop and how much of this shopping is done online these days.
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