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Table of Contents

Executive Summary

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TABLE OF CONTENTS

1. INTRODUCTION 6

2. SUMMARY 7

3. ECONOMIC ENVIRONMENT 10

3.1 INTRODUCTION 10

3.2 GROWTH AND INTEREST RATES 11

3.3 BUILDING & CONSTRUCTION 11

3.4 CONCLUSION 11

4. THE MARKET 12

4.1 OVERALL FURNITURE MARKET 12

4.2 THE UK BEDROOM FURNITURE MARKET 18

4.3 MARKET COMPARISONS 24

4.4 FITTED & NON-FITTED BEDROOM FURNITURE 25

4.5.HOUSEHOLD PENETRATION 29

5. PRODUCT RANGE 34

5.1.PRODUCT DEFINITIONS 34

5.2 TYPE OF BEDROOM FURNITURE 35

5.3 METHOD OF ASSEMBLY 37

5.4.STYLES 40

5.5 FINISHES AND MATERIALS 44

5.6 SLIDING WARDROBE DOORS 46

6. IMPORTS & EXPORTS 48

7. SUPPLIERS 52

7.1 STRUCTURE 52

7.2 KEY SUPPLIERS 53

7.3 SUPPLIERS 54

8. DISTRIBUTION 63

8.1 DEFINITIONS 63

8.2 DISTRIBUTION CHANNEL SHARES 64

8.3 MULTIPLES 65

8.4 FURNITURE INDEPENDENTS 70

8.5 RETAIL SPECIALISTS 72

8.6 MAIL ORDER 73

8.7 DEPARTMENT STORES, VARIETY STORES & CO-OPERATIVES 76

8.8 DIY MULTIPLES 80

8.9 OTHERS 83

9. KEY MARKET INFLUENCES 85

9.1 THE HOUSING MARKET 85

9.2 GENERAL 89

10. FUTURE PROSPECTS 94

10.1 OVERALL MARKET 94

10.2 PRODUCT TRENDS 95

10.3 GENERAL 97

LIST OF TABLES AND CHARTS

CHART 1: THE UK DOMESTIC BEDROOM FURNITURE MARKET £M MSP 1990-2002

TABLE 2: THE UK MARKET FOR FURNITURE 1990-1997 (£M MSP)

CHART 3: OVERALL UK DOMESTIC FURNITURE MARKET 1986-1997 IN CONSTANT 1990 PRICES

TABLE 4: HOUSEHOLD EXPENDITURE ON FURNITURE BY AGE OF HEAD OF HOUSEHOLD £M 1995/1996

CHART 5: UK MARKET MIX OF FURNITURE 1990 & 1997

CHART 6: FITTED AND NON-FITTED FURNITURE 1997 - BY VALUE

TABLE 7: UK DOMESTIC BEDROOM FURNITURE MARKET 1990-2002 IN VALUE £M MSP

CHART 8: UK DOMESTIC BEDROOM FURNITURE MARKET 1990-2000 IN CONSTANT PRICES £M MSP

CHART 9: SALES OF CONSUMER DURABLES 1990-2000 (1990 = 100)

CHART 10: MIX OF FITTED & NON-FITTED BEDROOM FURNITURE - 1997 BY VALUE

TABLE 11: FITTED AND NON-FITTED KITCHEN, BEDROOM AND BATHROOM FURNITURE MARKET SHARE BY VALUE 1997

CHART 12: FITTED BEDROOM FURNITURE MARKET 1985-2000 BY VOLUME

TABLE 13: HOUSEHOLD OWNERSHIP LEVELS OF CONSUMER DURABLES 1987-2000

CHART 14: THE UK BEDROOM FURNITURE MARKET VALUE MIX OF RIGID/FLATPACK 1997

CHART 15: UK BEDROOM FURNITURE MARKET BY TYPE OF ASSEMBLY 1997 BY VALUE

CHART 16: SELF-ASSEMBLY BEDROOM FURNITURE MARKET £M MSP

TABLE 17: IMPORTS & EXPORTS OF BEDROOM FURNITURE 1990-96 BY VALUE (£M)

TABLE 18: IMPORTS OF BEDROOM FURNITURE BY COUNTRY OF ORIGIN - MARKET SHARE BY VALUE £M

TABLE 19: EXPORTS OF BEDROOM FURNITURE BY COUNTRY - MARKET SHARE BY VALUE £M 1996

TABLE 20: MIX OF FURNITURE MANUFACTURERS* BY TURNOVER SIZE 1996

TABLE 21: MAJOR MANUFACTURERS WITHIN THE BEDROOM FURNITURE MARKET - SHARE BY VALUE 1997

TABLE 22: DISTRIBUTION OF BEDROOM FURNITURE - VALUE SHARE 1997

TABLE 23: MIX OF FURNITURE, LIGHTING COMPONENT & HOUSEHOLD ARTICLE RETAILERS BY SIZE 1996

TABLE 24: HOUSING COMPLETIONS 1990-1997 GREAT BRITAIN ('000)

TABLE 25: HOUSING STARTS 1993-1997 GREAT BRITAIN ('000)

TABLE 26: VALUE OF NEW UK HOUSING OUTPUT AND RMI OUTPUT (£M)

TABLE 27: NUMBER OF PROPERTY TRANSACTIONS IN ENGLAND AND WALES 1990-1996

CHART 28: INTEREST RATES AND INFLATION (RPI) FROM 1990-2000

CHART 29: PDI & SAVINGS RATIO

TABLE 30: STOCK OF DWELLINGS GREAT BRITAIN - 1983-1996

TABLE 31: DISTRIBUTION OF UK RESIDENT POPULATION JUNE 1995

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EXECUTIVE SUMMARY

The domestic bedroom furniture market is estimated to be worth over £470m at MSP, having experienced good levels of growth in 1997. However, in general, bedroom furniture suffers from low priority, low in-house visibility and a lack of wear and tear in comparison to other consumer durables, which limits market growth in the longer term.

Recent levels of growth have resulted from building society windfalls, high levels of consumer confidence and buoyant housemoving and housebuilding markets. However, the beginning of 1998 is witnessing a slow down in consumer spending, which is likely to result in a poor performance compared with 1997.

Bedroom furniture is a relatively mature market, with some reliance on the new housing sector, resulting in steady levels of growth during prosperous periods and low levels of decline when the economy is performing badly.

The bedroom furniture market consists of both free standing and fitted furniture with the majority free standing and around 30 percent fitted. Fitted furniture has experienced some growth in the last few years, benefiting from relatively buoyant housemoving and housebuilding markets, growing affluence and higher consumer spending. Fitted bedroom furniture is increasingly installed in new houses, both by housebuilders in an attempt to win sales, and by new home owners in order to make optimum use of restricted space.

Bedrooms in new houses are generally becoming smaller, as housebuilders aim to build a larger number of houses on a given plot of land. Further restriction on space within bedrooms results from a growing proportion of bedrooms built with en-suite bathrooms.

Fitted bedroom furniture is still relatively expensive when compared with free standing furniture. Household ownership of fitted bedroom furniture is less than 10 percent, compared with fitted kitchen furniture at 60 percent, providing substantial scope for increase. Bedroom furniture types include Flat Pack and Rigid, with rigid accounting for the majority of this market.

Self-assembly furniture is experiencing some growth as quality improves. This trend is supported by younger consumers who tend to spend more per head on furniture and tend to buy more self-assembly products.

As the bedroom furniture market matures, niche markets are developing, with suppliers attempting to differentiate their products. Two growing niche sectors in the bedroom furniture market are the childrens' and the study bedroom/home office sectors.

There is currently an increasing market for sliding wardrobe doors, benefiting from a buoyant housebuilding and housemoving market, on which their sales are highly dependent.

International trade in bedroom furniture is not substantial, however there is a negative trade balance with imports nearly twice the level of exports. Major import sources include Denmark, Brazil, Belgium/Luxembourg, South Africa and Germany. Key export markets include France, the Irish Republic, Germany and the Netherlands.

Leading manufactures of bedroom furniture include Hygena/Schreiber, Silentnight/Homeworthy, Sharps/Limelight etc. However, over 40 percent of the market is comprised of manufacturers with less than 1 percent share.

This comprehensive report represents a detailed assessment of the market, reviewing major trends, key factors influencing developments and future prospects for the sector. Analysis is both quantitative and qualitative, based on our substantial experience of the building and home improvement markets.

Text © 1998 AMA Research

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