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Living and Dining Room Furniture - UK - October 2019

 “The living and dining room furniture market maintained growth in 2018, sustained by the return of real wage growth and a surprising resilience among the consumer base in the face of continued Brexit headwinds. Within the market, there is a growing need for flexible furniture in response to evolving demands of modern living. The year ahead is less certain, however, as is how the exit from the EU impacts consumer confidence and the housing market.”

- Marco Amasanti, Retail Analyst

This report will look at the following areas:

  • The need for multipurpose living spaces drives a growing expectation for furniture to do more
  • Another administration underlines ongoing challenges in the marketplace for furniture retailers
  • The opportunity for premium furniture services

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Table of contents

  1. Overview

    • What you need to know
      • Products covered in this Report
      • Executive Summary

          • The market
            • Market growth slows amid some uncertainty
              • Figure 1: Consumer spending on living and dining room furniture, 2014-24
            • Brexit headwinds set to subdue growth
              • Housing transactions cool for a second year
                • Consumer confidence remains resilient despite uncertainty
                  • Companies and brands
                    • Specialist stores lead sales, two retailers fall into administration…
                      • …but online channels continue to grow
                        • DFS remains the market leader, with IKEA close behind
                          • The consumer
                            • Ownership of separate living rooms is over double that of dining rooms
                              • Figure 2: Type of living room, August 2019
                            • Consumers are expecting more from their living and dining rooms
                              • Figure 3: Use of living and dining space, August 2019
                            • Spending peaks among younger shoppers
                              • Figure 4: What they spent on living and dining room furniture, August 2019
                            • Living room, and sofas, dominate purchases
                              • Figure 5: Living and dining room furniture purchases, August 2019
                            • The growing need for flexibility
                              • Figure 6: Attitudes towards living and dining room furniture, August 2019
                            • Potential avenues for growth in the living and dining room market
                              • Figure 7: Interest in living and dining room furniture, August 2019
                            • What we think
                            • Issues and Insights

                              • The need for multipurpose living spaces drives a growing expectation for furniture to do more
                                • The facts
                                  • The implications
                                    • Another administration underlines ongoing challenges in the marketplace for furniture retailers
                                      • The facts
                                        • The implications
                                          • The opportunity for premium furniture services
                                            • The facts
                                              • The implications
                                              • The Market – What You Need to Know

                                                • Market growth slows amid some uncertainty
                                                  • Growth forecast to slow as the UK navigates its exit from the EU
                                                    • Housing transactions cool, but remain historically high
                                                      • Consumer confidence remains resilient despite uncertainty
                                                      • Market Size and Forecast

                                                        • Market growth slows amid some uncertainty
                                                          • Brexit headwinds set to subdue growth
                                                            • Figure 8: Consumer spending on living and dining room furniture, 2014-24
                                                            • Figure 9: Consumer spending on living and dining room furniture, 2014-24
                                                          • Market segmentation
                                                            • Figure 10: Consumer spending on living and dining room furniture, estimated breakdown by category, 2018
                                                          • Forecast methodology
                                                          • Market Drivers

                                                            • Housing transactions cool for a second year…
                                                              • Figure 11: Number of residential housing transactions over £40,000, 2009-18
                                                              • Figure 12: Monthly change in the number of residential housing transactions over £40,000 compared to the previous year, January 2018-July 2019
                                                            • …but the number of households continues to rise
                                                              • Figure 13: Number of UK households, 2013-23
                                                            • Consumer confidence remains resilient despite uncertainty
                                                              • Figure 14: Consumer confidence in the state of finances and their finances compared to the previous year, January 2017-July 2019
                                                              • Figure 15: Spending on the home, actions and intentions, January 2017-August 2019
                                                            • Inflation returns to stability following 2017 spike
                                                              • Figure 16: Annual rate of inflation, 2007-18
                                                              • Figure 17: Inflation, July 2018-July 2019
                                                            • Nearly a fifth of households are now privately renting
                                                                • Figure 18: Housing stock in England, by tenure, 1998-2018
                                                              • Three quarters of consumers live in a house
                                                                • Figure 19: Type of dwelling lived in, August 2019
                                                              • Consumers appear confident of taking on credit
                                                                • Figure 20: Consumer credit excluding student loans, August 2017-July 2019
                                                                • Figure 21: Availability of consumer credit to households, Q1 2012-Q2 2019
                                                            • Companies and Brands – What You Need to Know

                                                              • Specialist stores lead sales, two retailers fall into administration
                                                                • Online continues to grow its share
                                                                  • DFS remains the market leader, with IKEA close behind
                                                                    • Technological innovations changing the shape of furniture
                                                                      • Advertising spend falls 1.6% in 2018
                                                                      • Channels of Distribution

                                                                        • Specialist stores remain the largest channel, despite administrations
                                                                          • Department stores slip up slightly amid high street challenges
                                                                            • Online share creeps up
                                                                              • Figure 22: Estimated channels of distribution for living and dining room furniture, 2018
                                                                          • Market Share

                                                                            • DFS and IKEA consolidate at the top
                                                                              • John Lewis and M&S lose share as high street footfall drops
                                                                                • Online players appear on the horizon
                                                                                  • Figure 23: Estimated market shares of the living and dining room furniture market, 2018
                                                                              • Launch Activity and Innovation

                                                                                • Harth reimagines furniture rental
                                                                                  • Figure 24: Harth range, September 2019
                                                                                • 3D print it
                                                                                  • Figure 25: 3D printing, September 2019
                                                                                • Sofa in a box
                                                                                  • Figure 26: Snug Shack ‘sofa in a box’, September 2019
                                                                                • Chesterfield’s ‘Vegan’ Sofa
                                                                                  • Smart-tech living and dining room furniture
                                                                                  • Manufacturer Profiles

                                                                                    • Devonshire Pine & Oak
                                                                                      • Figure 27: Devonshire Pine Limited financial performance, 2017 and 2018
                                                                                    • Ekornes
                                                                                      • Figure 28: Ekornes financial performance, 2016 and 2017
                                                                                    • Ercol Furniture Limited
                                                                                      • Figure 29: Ercol Furniture Limited financial performance, 2016 and 2017
                                                                                    • Furnico Furniture Limited
                                                                                      • Figure 30: Furnico Furniture Limited financial performance, 2017 and 2018
                                                                                    • JDP Furniture Group Limited
                                                                                      • Figure 31: JDP Furniture Group Limited financial performance, 2017 and 2018
                                                                                    • Sherborne Upholstery Limited
                                                                                      • Figure 32: Sherborne Upholstery Limited financial performance, 2017 and 2018
                                                                                    • 1869 Limited
                                                                                      • Figure 33: 1869 Limited financial performance, 2017 and 2018
                                                                                    • Westbridge Furniture Designs Limited
                                                                                      • Figure 34: Westbridge Furniture Designs Limited financial performance, 2016 and 2017
                                                                                  • Advertising and Marketing Activity

                                                                                    • Advertising spend falls 1.6% in 2018
                                                                                      • Figure 35: Total above-the-line, online display and direct mail advertising expenditure on living and dining room furniture, 2014-18
                                                                                    • DFS continues to dominate spending
                                                                                      • Figure 36: Total above-the-line, online display and direct mail advertising expenditure on living and dining room furniture, by retailer, 2018
                                                                                    • Adspend falls among leading retailers
                                                                                      • Figure 37: Total above-the-line, online display and direct mail advertising expenditure on living and dining room furniture, by retailer, 2014-18
                                                                                      • Figure 38: Share of total above-the-line, online display and direct mail advertising expenditure on living and dining room furniture, by retailer, 2014-18
                                                                                    • TV accounts for two thirds of expenditure…
                                                                                      • Figure 39: Total above-the-line, online display and direct mail advertising expenditure on living and dining room furniture, by media type, 2018
                                                                                    • …having grown its hold in recent years
                                                                                      • Figure 40: Proportion of above-the-line, online display and direct mail advertising expenditure on living and dining room furniture, by media type, 2014-18
                                                                                    • Leading retailers adopt a number of different strategies
                                                                                      • Figure 41: Above-the-line, online display and direct mail advertising expenditure on living and dining room furniture, by media type and advertiser, 2018
                                                                                    • Campaign highlights
                                                                                      • Sofology chooses Owen Wilson to lead advertising charge
                                                                                        • Harveys partners with Louise Redknapp
                                                                                          • DFS celebrates 50th anniversary with Aardman Animations studio
                                                                                            • Swoon launches debut TV campaign
                                                                                              • Nielsen Ad Intel coverage
                                                                                              • The Consumer – What You Need to Know

                                                                                                • Ownership of separate living rooms is over double that of dining rooms
                                                                                                  • Consumers are expecting more from their living and dining rooms
                                                                                                    • Spending peaks among younger shoppers
                                                                                                      • Living room, and sofas, dominate purchases
                                                                                                        • The growing need for flexibility
                                                                                                          • Potential avenues for growth in the living and dining room market
                                                                                                          • Types of Living Space

                                                                                                            • The majority still enjoy a separate living room…
                                                                                                                • Figure 42: Type of living room, August 2019
                                                                                                              • …but just over a quarter of consumers have a separate dining room
                                                                                                                • Figure 43: Type of dining room, August 2019
                                                                                                              • Homeowners enjoy more space
                                                                                                                • Figure 44: Type of dining room, by dwelling type, August 2019
                                                                                                            • Use of Living Space

                                                                                                              • Consumers are expecting more from their living and dining rooms
                                                                                                                • Figure 45: Use of living and dining space, August 2019
                                                                                                              • Changing needs for the living space driven by younger consumers
                                                                                                                • Figure 46: Use of living and dining space, by age, August 2019
                                                                                                                • Figure 47: Use of living and dining space, by age, August 2019
                                                                                                              • The need for workspaces amid the rise of working from home
                                                                                                              • What They Spent

                                                                                                                • More than half of consumers did not buy any furniture in the past year
                                                                                                                  • Figure 48: What they spent on living and dining room furniture, August 2019
                                                                                                                • Spending peaks among 16-34 year olds, but 35-44s are central to large purchases
                                                                                                                  • Figure 49: What they spent, by age, August 2019
                                                                                                                • New movers tend to focus more on essential, cheaper furniture
                                                                                                                    • Figure 50: What they spent, by duration in current home, August 2019
                                                                                                                  • Homeowners spearhead spending
                                                                                                                    • Figure 51: What they spent, by dwelling type, August 2019
                                                                                                                • Living and Dining Room Furniture Purchases

                                                                                                                  • The living room dominates recent purchases
                                                                                                                    • Figure 52: Living and dining room furniture purchases, August 2019
                                                                                                                    • Figure 53: Living and dining room furniture purchases, by duration in current home, August 2019
                                                                                                                  • Demand for dining room furniture varies according to space in the home
                                                                                                                    • Figure 54: Living and dining room furniture purchases, by dwelling type, August 2019
                                                                                                                  • Homeowners buy more furniture
                                                                                                                    • Figure 55: Living and dining room furniture purchases, by tenure, August 2019
                                                                                                                  • Over a third of shoppers purchased three or more items of furniture
                                                                                                                    • Figure 56: Living and dining room furniture purchases, repertoire, August 2019
                                                                                                                • Attitudes towards Living and Dining Room Furniture

                                                                                                                  • Comfort reigns supreme…
                                                                                                                    • …but its importance varies by age
                                                                                                                      • Figure 57: Attitudes towards living and dining room furniture, August 2019
                                                                                                                    • The appeal of flexibility greatest among flat owners
                                                                                                                      • Figure 58: Attitudes towards living and dining room furniture, by dwelling type, August 2019
                                                                                                                    • Priorities for furniture differ significantly with age
                                                                                                                      • Figure 59: Attitudes towards living and dining room furniture, by age, August 2019
                                                                                                                    • The need for stores is falling among younger shoppers
                                                                                                                        • Figure 60: Agreement with the statement "It's necessary to visit a store when purchasing premium items of living/dining room furniture (ie £500+)", by age, August 2019
                                                                                                                    • Interest in Living and Dining Room Furniture

                                                                                                                        • Rapid development in visualisation technologies
                                                                                                                          • Consumers opening up to the idea of built-in technologies
                                                                                                                            • New movers seek design guidance
                                                                                                                              • Figure 61: Interest in living and dining room furniture, August 2019
                                                                                                                            • The growing opportunity for premium furniture rental services
                                                                                                                                • Figure 62: Interest in the statement "Living/dining room furniture that could be rented rather than bought outright", by household income, August 2019
                                                                                                                            • Appendix – Data Sources, Abbreviations and Supporting Information

                                                                                                                                • Abbreviations
                                                                                                                                  • Consumer research methodology
                                                                                                                                  • Appendix – Market Size and Forecast

                                                                                                                                    • Forecast methodology

                                                                                                                                    Living and Dining Room Furniture - UK - October 2019

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