Market Re-forecasts - Non-fashion High Street - UK - March 2009
Household goods are one of the sectors hardest hit by the slump in the housing market, so declines are predicted for virtually every major category for 2009.
Those sectors most closely linked with moving house will suffer the most, such as furniture, carpets and window furnishings.
2009 will be worse than 2008 as the big declines in retail sales in these categories only really kicked in in the second half of 2008.
Sectors where there is an element of distress or replacement purchasing will fare better than sectors where replacement can more easily be deferred.
The major problem is the lack of first-time buyers for major household items due to difficulties first-time buyers are facing buying property (lack of borrowing).
DIY/garden market expected to do better than home furnishings, as some homeowners opt to spend small amounts to improve not move.
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