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KN17022

KEY NOTE HOME FURNISHINGS 2002

Overview

Editor: Emily Pattullo
ISBN: 1-84168-371-5

This report covers: home furnishings,textile products,window dressings,curtains,curtain fabric,linings,net curtains, window blinds,bedding,bed linen,duvets,pillows,blankets,bathroom textiles,towels,bath mats,pedestal mats,toilet seat covers,cushions, covers,loose covers,throws,table linen,tablecloths,napkins,fabric placemats,blinds,roller blinds,vertical blinds,sheets,pillowcases, bedspreads,

Companies covered include: Coats PLC,Courtaulds Textiles Ltd,CWV Group Ltd,Headlam Group PLC,John Cotton Group Ltd,Colefax Group,Conran Shop Holdings,Debenhams Retail,Dunelm Soft-Furnishings, Englewood,Fogarty,Homestyle Group,House of Fraser,IKEA,John Lewis Partnership,Laura Ashley Holdings,Marks & Spencer,Matalan,Osborne & Little,Plumbs,Scotts of Stow,Coats Viyella,DuPont (UK),Walker Greenbank

Executive Summary

Table of Contents

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EXECUTIVE SUMMARY

The UK market for home furnishing products,as covered by this report,was estimated to be worth £2.73bn at retail selling prices (rsp) in 2001. This represents a growth rate of approximately 4 percent in 2000 and has continued the moderate growth that the market has experienced in recent years.

For the purposes of this report, home furnishings are defined as bedding,window dressings,bathroom and kitchen textiles,cushions and covers and table linen. Other household textile products,such as floor cloths,dishcloths,dusters and other textile-based household-cleaning products,have been excluded.

The home furnishings sector is characterised by its non-essential nature and by the fact that the majority of the market is comprised of replacement and additional purchases. Household penetration levels of most home furnishings products are relatively high, especially in the bedding and window dressings sectors. Although first-time purchases represent only a limited part of the market,they have received a boost from the increasing number of households and,in particular,the growing number of single-person households.

Since the latter half of 1998, the market has benefited from increased consumer spending. Value growth has also been stimulated by more frequent replacement cycles for ancillary furnishing items as fashion trends move towards different designs and styles.

The supply side of the market has been dominated by the reduction in UK-manufacturing capacity as more organisations move production abroad,or exit the textiles industry altogether. The divestment of Textile and Home Furnishings Products divisions by some leading international organisations has also contributed to increasing the fragmentation of the supply side of the industry. The main driver of this reorganisation is the growth of cheaper imported products from countries with lower production costs. The pattern is likely to continue as tariffs and quotas for textile products are increasingly abandoned.

Future prospects for the market are reasonably positive,with
moderate-to-good value increases forecast for the short- to medium-term future. Home furnishings products have benefited from the current trend for interior design schemes,which appears to have a positive outlook. However,consumer spending is dependent upon the overall level of confidence in the economy,and any significant increases in interest rates or inflation may dampen future growth prospects within the home furnishings market.

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Last updated by Amanda Porteous May 2002