Bedroom Furniture Market Research Report 2010 from MTW Research
The recession clearly had a significant impact on the bedroom furniture industry, with a large number of business failures evident across the manufacturing and retail sector during the last 2 years. However, MTW point to renewed optimism in the market for mid 2010 onwards, as the UK economy improves, consumer confidence returns and expenditure rises. Based on sales data from the industry, the report forecasts the market to rise by 13% between 2010 and 2014, reflecting stronger demand patterns across most sectors of the bedroom furniture market.
However, imports continue to gain share of bedroom furniture sales in 2010, with this trend posing an increasing threat to the ability of UK manufacturers and retailers to add value and grow revenue. The report states, “UK manufacturing currently accounts for around 48% of the UK market. Output by UK manufacturers has declined from a peak of £499 million in 2006, to current levels of £371 million, reflecting a contraction of some 26% over a 4 year period. “ MTW point out that retailers and suppliers active in the lower value or volume oriented channels are unlikely to achieve any real term growth in turnover, with profitability in this segment of the market likely to come under increasing pressure.
However, despite a relatively bleak outlook for lower value bedroom furniture products, MTW’s research highlights optimism for independent retailers and UK manufacturers operating in the higher value sector of the market in 2010 and beyond. Rising population age, declining unemployment, ‘trading-up’
The report also reviews key specification criteria which influence the childrens bedroom furniture market - a sector which has experienced buoyant performance in recent years having grown share of the overall market during the recession. MTW identifies a wide range of important issues for the end user and the purchaser of childrens furniture, including design, materials, price, functionality and brand perceptions. Following a slight decline in 2009 as consumers reigned in spending, the childrens bedroom furniture sector is set to rise in 2010 by just under 3%, reflecting the only sector likely to return to ‘real term growth’ during 2010.
Alongside product mix and trends for both fitted and freestanding wardrobes, drawer chests, dressing tables and bedside cabinets, MTW also examine sales for more than 130 manufacturers and retailers and analyse future prospects and style trends in the bedroom furniture market. The report is available to purchase now from MTW Research for GBP 565 from www.marketresearchreports.co.uk or by calling 08456 524324
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