Polish consumers increasingly resting and cooking at home
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As going out to foodservice outlets and participating in holiday trips is becoming more expensive, Polish consumers are increasingly spending their leisure time at home. Despite the economic crisis, Polish consumers want to have a good time and are thus arranging social meetings in their homes or gardens such as barbecuing or cooking for friends. As a result, there is a trend towards well-maintained gardens where one can relax in green surroundings. In turn, the increasing tendency for preparing meals at home is translating into higher spending on handy kitchen utensils and accessories.
Fragmented company background
Home and garden is highly fragmented with a significant number of small and medium size companies focusing on one product group. The home and garden offer consists of products delivered both by multinational companies, domestic players as well as no-name products imported from Far East countries. At the forefront of the competitive landscape is IKEA Retail Sp zoo, the Sweden-based home furnishings retailer, with the company recording rapid revenue growth in 2012. A growing number of consumers are being attracted by simple and reasonably priced functional home furnishings. As a result of its favourable business outlook, IKEA decided to invest in Poland and has announced its intention to open new outlets in 2013 and 2014 as well as the opening of the Swedspan production complex, belonging to the IKEA Group, in 2012.
Home improvement and gardening stores dominate home and garden sales
Home improvement and gardening stores as well as furniture and homeware stores are the leading home and garden distribution channels. Particularly evident is the expansion of DIY, home improvement and garden centres, the number of which is growing rapidly. The strength of these points of sale is their display of a wide range of products under one roof. Private label products offer satisfactory quality as well as attractive prices. Moreover, consumers are attracted by loyalty programmes and discount cards as well as the possibility of receiving advice or professional consultancy from salespersons. As a result of the aforementioned advantages, the channel was the most visited in 2012. However, the rising propensity amongst consumers to save and seek even cheaper distribution channels is fuelling the popularity of online shopping. Home and garden products are among the most sought-after items online. Therefore, internet retailing was one of the fastest growing distribution channels within home and garden in 2012.
Gradual improvement in home and garden expected
2013 is expected to be a difficult year for Poland and other European economies. Uncertainty over the economy will negatively impact the confidence of consumers, who will be much more careful with their spending and will postpone decisions about repairs and major interior changes. From 2014 onwards, moderate growth in the real estate market along with improving external and internal demand and an influx of foreign investment is expected. The likely improvement in disposable incomes and openness to modern designs and more sophisticated interiors will stimulate value growth over the forecast period.
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