The UK Homewares Market 2018-2023 | Key players include Marks & Spencer, Matalan, Dunelm, John Lewis, IKEA, The Range, Home Bargains, Wickes, Argos, Amazon
"The UK Homewares Market 2018-2023", report offers a comprehensive insight into the homeswares market in the UK, analysing the market, the major players, the main trends, and consumer attitudes. It covers five different homewares sub-sectors and provides forecasts to 2023.
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Adverse weather conditions hit homewares sales in the first half of 2018 impacting overall growth. Demand for homewares is expected to increase as housing transactions pick up from 2019. Lighting's stronger link to the housing market compared to other categories means that it will grow faster than other categories over the next five years. Decorative-which is a very discretionary category-will have the slowest growth of all subcategories as consumers cut back on non-essential spending.
-By 2023 general merchandise will overtake homewares specialists and become the leading channel for homewares with 28.1% of the market.
-Kitchenware is the most shopped for category. Growth in kitchenware is largely driven by the health and wellness trend creating a greater interest in cooking from scratch.
-A fast fashion attitude to homewares among retailers and influencers is leading younger shoppers to purchasing homewares more frequently with 60% of 16-24 year olds and 70% of 25-34 year olds purchasing homewares at least every 7-9 months.
Reasons to buy
-See which areas your customers deem the most important and understand how you perform in these areas to benchmark performance and identify weak points.
-Gain a better understanding of the challenges facing department stores, including the how the growth of value general merchandisers, and online players such as Amazon pose a threat.
-Understand market drivers and inhibitors, as well as retailer strategies for success.
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Name: Sameer Joshi
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