Summary
Growth in the kitchen furniture market has slowed to 0.5% in 2016 (from 2.0% in 2015). Prospects for the market are bleak in 2017, as weakening consumer confidence and a slowing housing market mean that consumer’s budgets will come under greater pressure with rising inflation. However, the kitchen furniture category is expected to return to growth from 2018, reaching an estimated 2.6% growth in 2021.
Key Findings
– The UK’S decision to leave the EU has begun to impact retail spending. Purchases on more expensive outdoor kitchen items have been hit by the move to a more cautious spending mentality. However spend on smaller products is set to remain stable as retailers increasingly compete for share in these products as more customers choose to improve the look and feel of their home.
– Visiting a store to purchase kitchen furniture still plays a very important part of the customer journey. With 92.9% of consumers stating that they conducted some form of research for kitchen furniture before buying, and 49.1% of those consumers visiting stores for research, this highlights the important role stores still have in the customer decision journey for purchasing kitchen furniture.
– As homeowners feel less confident about installing kitchens themselves, the trade-only Howdens will become a greater threat to retailers. To counter this, kitchen retailers must develop and promote their installation services more, gaining trade certification in order to compete.
The report “Home Retail Series Kitchen Furniture 2016” is available now at http://www.radiantinsights.com/research/home-retail-series-kitchen-furniture-2016
Synopsis
The Kitchen Furniture report offers a comprehensive insight into the kitchen furniture market within the UK: analysing the market, the major players, the key trends, and consumer attitudes. It also provides market forecasts to 2021.
It provides in-depth analysis of the following:
– Key issues and success strategies within the kitchen furniture market in the UK
– Market size and forecast: a look at the total market size and forecast for the UK kitchen furniture market
– Retailer profiles: a detailed look at the dominant players including market shares and outlooks
– Consumer data: a detailed look at what, how and where people are buying kitchen furniture products
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Reasons to Buy
– This HRS report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the outdoor eating market based on insights from our bespoke consumer survey and analyst insight.
– The report is designed for senior executives, boasting presentation-ready material.
– The broad but detailed perspective will help manufacturers and retailers understand the opportunities within the kitchen furniture market.
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