UK furniture, bed and furnishings manufacturing is a substantial industry. Over a quarter of a million jobs are dependent on the success of the industry, within manufacturing alone. There arein specialist furniture and furnishings retail and wholesale, 3, in repair, 10, in leasing, plus a proportion of the 52, registered specialist designers. In addition to this there is an unquantified value of product entering the contract and office markets.
We succeed because you do. The market registered a 4. Although the first six months of saw a softened increase of 2.
This is due, in part, to an increasing import penetration and high in-state operating costs. Furniture manufacturers in California and abroad need to be abreast of emerging trends that are shaping a new furniture industry landscape.
The trends focus mainly on the fundamental shifts in U. They can either pose some challenges or open doors to new opportunities. Rising home prices, apprehension from the burst housing bubble, rising student debts, and the delay of millennials to get married or start their own families are some of the reasons owning a home is not a priority, as yet, for some Americans.
The challenge and opportunity: Renters are likely to look for more affordable furniture options in the same manner as landlords will opt for more cost-effective furnishings for their home rentals, with a growing number renting their furnishings rather than outright buying them.
A growing trend also is leading toward consumers shopping for smaller furniture to fit their rental homes or apartments where space may be at a premium. And smaller households are opting to live in apartments or smaller homes.
This calls for the demand of smaller homes, an increase in availability of more modular, space-saving and multifunctional furniture, and furniture for storage. The Challenge and Opportunity: Furniture manufacturers should take this as both a challenge and opportunity to create new designs as an addition to their portfolio of offerings, further promoting their brand.
Different Generations Have Different Lifestyles The bulk of the furniture market is composed of millennials, generation X, baby boomers, and seniors. The generational demographic of consumers calls for furniture manufacturers to diversify their products to cater to the specific needs of each group.
While this may mean additional investment on new design and innovation, it also creates new possibilities for additional revenue sources and a motivation to embrace more sustainable processes and resources. Online Retailing Online retailing has been around for some time but it will continue to be a preferred buying channel for millennials in particular.
With instant access to catalogs and price lists, customers have a clearer idea of what they want. Online retailers have taken away a good portion of the market share of brick-and mortar retailers.
For manufacturers, the increase in online shopping means an opportunity to sell to online retailers that are not limited to a physical geographic area. Innovation is critical to the future of furniture manufacturing. The steady growth prospects of U. A quick search on YouTube can result in videos that show furniture that can be assembled in minutes without tools or multifunctional furniture that converts or includes hidden storage.
The Scope of Furniture Manufacturing In a nutshell, the furniture industry is changing but its image remains intact. A large challenge facing furniture manufacturers is their ability to overcome the negative perception with a younger workforce. As in other types of manufacturing environments, advanced technologies will also be introduced in furniture manufacturing.
This may help to eliminate the perception of the dusty work floor, physical labor image and transform the industry. Who knows what the future may bring as new technologies are introduced? This post was originally published in June and has been updated, refreshed for accuracy and comprehensiveness!Production value of the furniture manufacturing industry in the United Kingdom (UK) from to (in million euros) Production value of furniture manufacturing in the United Kingdom (UK) The State of the Furniture Industry: Trends and Reports for by Caitlin Byrne on February 9, May 18, This month, we are highlighting the furniture and home furnishing industry in a series of upcoming blogs posts, reports and case studies.
Business News Current furniture financial earnings, industry analysis reports, industry trends and market news on the top publicly held furniture companies Campaign launches first set of sectionals. In aid of The Furniture Makers’ Company, the City of London livery company and charity for the furnishings industry.
Furniture industry in Europe - Statistics and Facts Topic: Office furniture in the United Kingdom (UK) Furniture manufacturers' sales in the United Kingdom (UK) , by product category. FIRA’s new statistical digest provides an invaluable summary of how the UK furniture industry is performing, pulling relevant data to identify and analyse the manufacturing and spending trends of previous years.