Treport Bedroom Set
Providing the most comprehensive and up-to-date information and analysis of the UK Beds and Bedroom Furniture markets including the behaviours, preferences and habits of the consumer.
Similar to wider furniture sectors, COVID-19 is set to have a profound impact on the bedroom market, with sales set to drop by an estimated 12.5% in 2020. Although this has it outperforming
other sectors, such as kitchens and bathrooms, the market will nonetheless be hit heavily as consumers withhold, delay or redirect expenditure. In fact, 34% of consumers have delayed purchasing beds and bedroom furniture until after the outbreak. However, spending is then forecast to return to growth by 2021, before nearing pre-outbreak levels by late 2022 or 2023.
The impact of this disruption of the past year is set to be greatest at the higher end of the market, where the reduced appetite for bigger-ticket purchases is hindered by store closures and ongoing anxiety on the high street. Furthermore, within the market, the shape of demand has changed, as consumers turn away from often bigger-ticket, built-in bedroom furniture amid this continued fear of exposure.
However, despite being unable to offset total decline, there will, nonetheless, be new opportunities for growth amid this disruption. Foremost in this, extended periods inside have caused arise in flexible living, and bedrooms come under a wave of new demands, whether to serve as spaces to work, exercise or home-school. These new pressures have driven sales for multifunctional furniture solutions, while the shift to working from home and increased childcare have boosted sales of work-friendly furniture, storage and bunk beds.
Moving forward, extended periods inside will see people reassess these living spaces and prioritise them in future spending, buoyed by expenditure saved elsewhere, such as in travel, clothing and entertainment. However, this remains subject to ongoing uncertainty, the volatility of which was highlighted by England's second lockdown in November; although, the fallout from this could be eased by the recent development of effective vaccines.
Quickly understand
- The impact of COVID-19 on beds and bedroom furniture.
- How this disruption will change demand in the short, medium and long term.
- Opportunities for bedroom retailers amid this disruption.
- Performance of the leading bedroom specialists and non-specialists in the past year.
- The growing opportunity for wellbeing in the beds market.
Expert analysis from a specialist in the field
Written by Jane Westgarth, a leading analyst in the Retail sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
COVID-19 will see sales drop in 2020, driven by a reduced appetite for big-ticket items, store closures, reduced credit uptake and a turn away from built-in furniture amid ongoing anxiety. This disruption is set to have longer-lasting implications also, with a notable shift in shopping behaviours, particularly in the move online, and spending forecast to remain down on pre-outbreak levels until 2023; however, extended periods inside could open opportunities for the market moving forward, whether in pent-up demand, heightened demand for wellbeing or an uptick in larger renovations.
Marco Amasanti
Retail Analyst
Source: https://store.mintel.com/report/uk-bedrooms-and-bedroom-furniture-market-report
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