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Table of Contents

Executive Summary

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TABLE OF CONTENTS

Executive Summary

Market Definition

INTRODUCTION

MARKET SECTORS

MARKET POSITION

MARKET TRENDS

Table 1: The UK Total Household Goods Market (£m at rsp and index 1992=100), 1992-1997

Table 2: The UK Market for Household Furniture, Carpets and Textiles (£m at rsp), 1992-1997

Table 3: The UK Market for Household Furniture, Carpets and Textiles by Value (index 1992=100), 1992-1997

Table 4: The UK Market for Household Furniture, Carpets and Textiles by Value ( percent), 1992-1997

Table 5: Total Number of Permanent Dwellings in the UK (000 units and £m at current prices), 1993-1998

Market Size

THE TOTAL MARKET

MARKET SECTORS

A EUROPEAN PERSPECTIVE

FOREIGN TRADE

Table 6: The UK Household Furniture Market (£m at rsp and index 1992=100), 1992-1997

Table 7: The UK Household Furniture Market by Sector (£m at rsp), 1992-1997

Table 8: The UK Household Furniture Market by Sector by Value ( percent), 1992-1997

Table 9: The UK Household Furniture Market by Sector by Value (index 1992=100), 1992-1997

Table 10: Sales of Living Room Furniture by Type by Value ( percent), 1997

Table 11: Sales of Beds by Type by Value ( percent), 1997

Table 12: Sales of Dining Room Furniture by Type by Value ( percent), 1997

Table 13: Foreign Trade in UK Household Furniture (£m), 1994-1996

Table 14: Foreign Trade in UK Household Furniture By Type (£m), 1994-1996

Industry Background

RECENT HISTORY

LEGISLATION

INDUSTRY CONCENTRATION

DISTRIBUTION

TRADE ASSOCIATIONS

Table 15: Analysis of the UK Retail Furniture Industry by Turnover Size (number of companies), 1994-1997

Table 16: Analysis of the UK Retail Furniture Industry by Sector by Turnover Size (number of companies), 1997

Table 17: Analysis of the UK Retail Furniture Industry by Sector by Employment Sizeband (number of companies), 1997

Table 18: Sales of Furniture by Leading Out-of-town Retailers (£m, million square feet, £ per square foot), 1996

Table 19: Leading Multiple Furniture Retailers by Number of Outlets, 1997

Table 20: Sales of Upholstered Furniture by Type of Outlet ( percent), 1997

Table 21: Sales of Bedroom Furniture by Type of Outlet ( percent), 1997

Competitor Analysis

THE MARKETPLACE

MARKET LEADERS

ADVERTISING AND PROMOTION

Table 22: Selected Leading Companies in the UK Household Furniture Market by Sector, 1998

Table 23: Selected Leading Companies in the UK Household Furniture Market by Turnover (£m), 1996/1997

Table 24: Financial Results for Spring Ram Corporation PLC by Sector (£m), Year Ending 31st December 1994-1996

Table 25: Financial Results for H&C Furnishings PLC (£m), Year Ending 26th April 1996/1997

Table 26: Financial Results for Kingsbury Group PLC (£m), Year Ending 21st December 1995/1996

Table 27: Main Media Advertising Expenditure on Household Furniture (£000), Year Ending September 1996 and 1997

Table 28: Main Media Advertising Expenditure on Living Room Furniture (£000), Year Ending September 1996 and 1997

Table 29: Main Media Advertising Expenditure on Bedroom Furniture (£000), Year Ending September 1996 and 1997

Table 30: Main Media Advertising Expenditure on Beds and Mattresses (£000), Year Ending September 1996 and 1997

Table 31: Main Media Advertising Expenditure on Kitchen Furniture (£000), Year Ending September 1996 and 1997

Table 32: Main Media Advertising Expenditure on Product Range Furniture (£000), Year Ending September 1996 and 1997

Table 33: Main Media Advertising Expenditure by Furniture and Furnishing Stores (£000), Year Ending September 1996 and 1997

Strengths, Weaknesses, Opportunities and Threats (SWOT)

THE UK DOMESTIC FURNITURE MARKET

LIVING ROOM FURNITURE

BEDROOM FURNITURE

KITCHEN FURNITURE

DINING ROOM FURNITURE

OTHER/OCCASIONAL FURNITURE

Buying Behaviour

CONSUMER PENETRATION

OWNERSHIP BY SOCIAL GRADE AND REGION

Table 34: Household Penetration of Different Types of Furniture ( percent households owning), 1997

Table 35: Proportion of Adults Purchasing Furniture in the Last 12 Months ( percent adults), 1997

Table 36: Analysis of Purchases Made in the Last 12 Months ( percent adults), 1997

Table 37: Analysis of Expenditure on Furniture in the Last 12 Months by Amount Spent ( percent adults), 1997

Table 38: Household Ownership of Living Room Furniture by Social Grade and Region ( percent), 1997

Table 39: Household Ownership of Dining Room Furniture (Tables and Chairs) by Social Grade and Region ( percent), 1997

Table 40: Household Ownership of Fitted Kitchen Furniture by Social Grade and Region ( percent), 1997

Table 41: Household Ownership of Non-Fitted and Other Kitchen Furniture by Social Grade and Region ( percent), 1997

Table 42: Household Ownership of Fitted Bedroom Furniture by Social Grade and Region ( percent),1997

Table 43: Household Ownership of Other Bedroom Furniture by Social Grade and Region ( percent), 1997

Outside Suppliers to the Industry

INTRODUCTION

WOOD

STEEL

PLASTICS

TEXTILES

Table 44: Raw Materials Usage in the UK Furniture Industry (million square metres and 000 tonnes), 1997

Table 45: UK Imports of Timber and Board (£m fob), 1995 and 1996

Table 46: UK Imports of Timber and Board by Detailed Group and Main Source (£m fob and percent), 1996

Current Issues

COMPANY ACTIVITY

STORE DEVELOPMENTS

Forecasts

FACTORS INFLUENCING THE MARKET

FORECASTS 1998 TO 2002

FORECASTS TRENDS

Table 47: Forecast Sales of Household Furniture (£m at rsp), 1998-2002

Company Profiles

INTRODUCTION

DEFINITIONS

FURTHER INFORMATION

Further Sources

ASSOCIATIONS

PERIODICALS

DIRECTORIES

GENERAL SOURCES

HBI UK INFORMATION SOURCES

GOVERNMENT PUBLICATIONS

OTHER SOURCES

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EXECUTIVE SUMMARY

The market for household furniture was worth an estimated £7.26bn in 1997, a 10 percent increase on 1996. Growth is largely attributed to a recovery in housing sales, as a result of lower interest rates and an economic upturn. However, the market has also benefited from the conversion of building societies to banks, as many consumers spent their one-off payments of up to £3,000 on infrequent purchases such as furniture.

Nevertheless, the market remains extremely volatile and difficult trading conditions since 1994 have weakened some of the major manufacturers and retailers. In addition to several major takeovers, 1997 witnessed leading furniture retailer, Maples, go into receivership.

Lounge and bedroom furniture remain the most frequently purchased furniture, with nearly 10 percent of households buying such items during 1997. However, expenditure is rarely over £1,000. The highest-spending category remains fitted kitchens, where a significant proportion of purchases are over £3,000. However, the level of new purchases remains low, at between 3 percent and 4 percent of households a year.

The largest retailer in the UK is MFI, followed by the relatively new upholstery company, DFS, which trades largely from out-of-town warehouse-style outlets. Following its takeover of Kingsbury, in late 1997, H&C became the next largest group in 1998.

Branding in the market is rare, although some long-established names with a specialist style, such as Stag, Ercol and Parker Knoll, can be regarded as true brands. Consequently, with the exception of sectors such as fitted kitchens, which rely heavily on off-the-page sales, active brand support through advertising is generally low.

There remains a strong consumer preference for pine, which accounts for around 30 percent of wood furniture sold. New trends in upholstery include `shabby chic' and a return to show-wood furniture. Kitchen design is being influenced by technical advances in medium density fibreboard (MDF) handling.

Assuming current trends in the housing market and the economy continue, Key Note estimates that the furniture market will be worth £10.66bn by 2002. Future trends include a move back to smaller, freestanding furniture and growth in the market for small office/home office (SoHo) furniture.

Text © 1998 Key Note

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