Dining Room Furniture Market Analysed & Forecast by GlobalData in Its Topical Research Study Available at MarketPublishers.com
21 Dec 2017 • by Natalie Aster
LONDON – Dining room furniture is likely to be one of 2 furniture subcategories to attain growth by late 2017 as it accrues benefits from homeowners utilising their dining room more, especially for entertaining. More constrained buyers prefer hosting guests rather to eating out and, hence, wish to make the room as presentable as possible. Oak Furniture Land is projected to take the lead in the dining room furniture market by 2017-end, due to the net opening of new 9 stores and the ongoing financing of TV advertising.
The rate of Internet penetration of dining room furniture is one of the highest in the furniture universe, as the increased homogeneity of products in the category and relatively lower price points urge buyers to purchase online. Meantime, stores are being utilised more for pre-purchase research and, consequently, it is vital for retailers in this category to have a full multi-channel offer.
Penetration amid younger shoppers grew by 3.6% during the last year. In 2017, 31.2% of 16-24 year olds made purchases within the category, up from 27.6% YoY. This has been propelled by those coming into the housing marketplace for the first time ever.
IKEA is the most rapidly growing retailer in the dining room space. Its quality, contemporarily designed products at reasonable prices will likely appeal to constrained buyers. Gaining sales from Reading at the beginning of 2017 and Sheffield starting from September are also set to support sales growth.
Topical research study “Dining Room Furniture 2017” drawn up by GlobalData offers a detailed analysis of the market from a global perspective.
The report provides estimates of the market sizes and projections for growth of the sector; identifies the factors propelling the growth of the dining room furniture market in 2017 and beyond. It explores the factors that drive the growth amid the general merchandisers in the dining room furniture market and what specialists are doing to hold this threat at bay. The study provides an all-round understanding of shifting perceptions surrounding how the dining room is utilised. It gives information on how shoppers are researching dining room furniture before making purchases and uncovers the most influential methods. The report also gives details about what new Harveys CEO, Stuart Machin, should do to boost dining room sales.
Many other topical research reports by GlobalData are available in the publisher’s online catalogue at MarketPublishers.com.