Following on from an earlier report examining the market and prospects for kitchen and kitchen furniture in the UK, Chris also worked on a study looking at living and dining room furniture in 2022. Again, mostly focused on a desk review, the research was heavily boosted by the findings of a field market research panel.
As with kitchens and kitchen furniture, the impact of the cost of living crisis overshadowed the market. “Less is more” dominated with around half of all home owners having spent less than £500 on these rooms during the past 12 months. The importance of value was noted as having grown in the eyes of many, bringing especially difficult conditions for a number of manufacturers and retailers at the upper end of the market with some of these being forced into administration.
Exploring new territory was one of the main conclusions from the review. Not only might this mean focusing more on value to achieve a sale but also addressing emerging opportunities, such as demands for sustainable and vegan furniture products. Equally, online was identified as an area that offers future opportunities. After expanding in popularity for purchasing during the COVID-19 pandemic, it is now an established sales channel, helped by growing confidence towards its use for the purchase of high-ticket items.