Dining Room Furniture 2017

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Dec 18, 2017, 15:31 ET

NEW YORK, Dec. 18, 2017 /PRNewswire/ -- Dining Room Furniture 2017

Summary
Dining room furniture will be one of two furniture sub-sectors to achieve growth in 2017 as it benefits from homeowners using their dining room more, specifically for entertaining. More constrained shoppers are hosting guests rather than eating out and, as such, want to make the room as presentable as possible.

Read the full report: https://www.reportlinker.com/p05251052

Growth in 2017 will be driven by standalone chairs and benches as homeowners aim to accommodate their extra guests and are unable to make larger ticket purchases currently. As conditions improve from 2020 onwards, suites will fuel growth as they offer greater value.

Over 75% of homeowners with separate dining areas felt it was important for their dining room to be well presented in 2017, up about 6 percentage points on 2016, as it is being used more for entertaining. The proportion of shoppers that are now using their dining room more in 2017 rose by nearly 11 percentage points to almost 52%.When broken down by demographics, this uplift is being driven by younger shoppers. Over 31% of 16-24 year-olds purchased dining room furniture this year, an increase of about 3.5 percentage points on last year, as more of this age group get onto the property ladder.

Among the fastest-growing retailers in this sector will be IKEA and Wayfair. IKEA's strong value credentials and innovative storage solutions will appeal to the currently more constrained customer, while its new Reading and Sheffield stores will boost sales. Wayfair's heavy investment in advertising is driving awareness and encouraging more people to use it.The only retailer in the top 10 to lose share is Harveys, as fewer customers are considering it and its mid-market positioning causing it to be outflanked.

The report "Dining Room Furniture 2017", offers comprehensive insight and analysis of the UK market, the major players, the main trends, and consumer attitudes. It also provides forecasts to 2022.

Furthermore, this report provides the following analysis -
- Detailed data on the size of the market, the key drivers, and how spend is distributed.
- Profiles of the major players, and analysis of the key trends driving the market.
- Insight into whose consuming, what they are buying, where they are buying, and what makes consumers purchase.

Companies mentioned in this report: Argos,DFS, Furniture Village, Harveys, IKEA, John Lewis, Oak Furniture Land, The Range

Scope
- The online penetration of dining room furniture is among the deepest in furniture, as the greater homogeneity of products in this category and comparatively lower price points encourages shoppers to purchase through this channel. However, stores are being used more for pre-purchase research and, as such, it is essential for retailers in this sector to have a full multichannel offer.
- Penetration among younger consumers increased by 3.6 percentage points in the past year. In 2017, 31.2% of 16-24 year olds purchased within the category, up from 27.6% in 2016. This has been driven by those entering the housing market for the first time, including those renting unfurnished properties.
- The fastest-growing retailer in dining room are IKEA. Its quality, contemporarily designed products at affordable prices will appeal to constrained shoppers. Gaining sales from Reading at the start of 2017 and Sheffield from September onwards will also support sales growth.

Reasons to buy
- Identify the factors supporting the growth within the dining room furniture market in 2017 and beyond.
- Discover what is driving the growth among the general merchandisers in dining room furniture and what the specialists are doing to hold off this threat.
- Gauge the shifting perceptions surrounding how the dining room is used and encourage people to buy dining room furniture.
- Recognise how are shoppers researching dining room furniture prior to purchase and which methods are the most influential.
- Discover what should new Harveys CEO, Stuart Machin, do to drive dining sales for dining room furniture.

Read the full report: https://www.reportlinker.com/p05251052

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