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Furniture Retailing - UK - July 2008

Furniture Retailing - UK - July 2008

Report price : $ 2 993
Publication date : July 2008
Length : 227 pages

Furniture Retailing - UK - July 2008

About this report

The UK housing market has slowed dramatically and with house prices and the number of transactions forecast to fall this year, this must be bad news for furniture retailers. Already in 2008 there have been a number of casualties, including Sleep Depot and New Heights, and most recently Ilva and ScS.

At the same time furniture retailers are facing unprecedented levels of competition from outside of the specialist market from the likes of Tesco, Asda, Woolworths, Argos, Homebase, B&Q, and even Next and M&S. Is it all doom and gloom for the furniture specialist?

Main themes of the report:

*

What impact has the expansion of the supermarkets’ furniture ranges had on the specialists?
*

Are non-specialists increasing competition and driving down prices? If so, what can the specialists do to differentiate their offer?
*

What are the prospects for the UK furniture market given the worsening economic outlook?
*

IKEAhas had a profound effect upon UK furniture retailing, but is it reaching saturation point?
*

What are the prospects for furniture retailing online?
*

Are furniture shoppers getting enough, and the right kind of, in-store and after-sales service?
*

The potential for premiumisation within the furniture retail market?

If you want more details about this particular report, please contact the Mintel information team on +1 312-932-0400 in the U.S., +44 028-90-241-849 in Northern Ireland, +353 048-90-241-849 in the Republic of Ireland or +44 (0)20-7606-6000 in the UK and the rest of the world, or email info@mintel.com.

Contents

Issues in the Market
Main themes
Definitions
Abbreviations
Market in Brief
Slowing demand and rising competition
The middle-market squeeze
Price remains the big issue
The rise of the non-specialist
IKEA continues to dominate a fragmented market
Industry Insights
Key points
Market performance
The last 12 months
Segment performance
Going forward…
Retailer performance
Winners and losers
Non-specialist competition
Credit crunch
Internet
Replacement cycles and changing lifestyles
Green/ethical issues
Internal Market Environment
Key points
Purchasing patterns for furniture
Figure 1: UK: Penetration and purchasing of furniture, by major items, 2004-07
Prices
Figure 2: UK: Consumer price indices, selected furniture-related categories, 1997-2007
Figure 3: UK: Consumer price indices, furniture related categories, Jan 2008-April 2008
Competition in the market
Growth of the non-specialists
Can Jysk flourish where Ilva faltered?
Broader Market Environment
Key points
Retail sales
Figure 4: UK: ONS and BRC: Total retail sales year-on-year growth, May 2007-May 2008
Interest rates
Figure 5: UK: Bank of England base rates & UK retail sales, year-on-year monthly growth, January 2005-May 2008
Housing market
Figure 6: UK: Number of completed sales & stock of homes on books of surveyors, May 2007-April 2008
Number of households
Figure 7: Number of UK households, by number of persons in household, 2003-13
Strengths and Weaknesses in the Market
Strengths
Weaknesses
Sector Size and Forecast
Key points
The future
Figure 8: UK: Furniture & carpet specialists sales, 2003-12
Winners and losers
The past
Market Size
Key points
Market size
ONS data
Figure 9: UK: Spending on furniture, furnishings, carpets & other floorcoverings, at current prices, 2003-07
Mintel data
Figure 10: UK: Consumer spending on furniture and floorcoverings, by major category, 2003-07
Where They Shop for Furniture and Spending Intentions
Key points
Outlets used for furniture
Figure 11: Outlets used for buying furniture in the last three years, April 2008
Market positioning
Figure 12: Market positioning chart for furniture retailers, by age and affluence, April 2008
Furniture retailing and the housing market
Figure 13: UK: Consumer penetration of Furniture retailers, those buying a home, April 2008
IKEA
Figure 14: IKEA: Consumer penetration, by selected demographic sub-groups, April 2008
The other specialists
Argos and the other non-specialists
Figure 15: UK: Penetration of non-specialists for buying furniture, August 2006 and April 2008
Repertoire analysis
Figure 16: UK: Where they shop for furniture, repertoire of stores used, April 2008
Spending Intentions
Figure 17: Likelihood of buying furniture or floorcoverings over the next 12 months, by outlets used for furniture, April 2008
How They Shop for Furniture
Key points
Services consumers would like to see provided
Figure 18: Services consumers would like to see offered by furniture retailers, April 2008
Men and women demanding different things from furniture stores
Figure 19: UK: Services consumers would like to see offered by furniture retailers, by gender, April 2008
How they shop for furniture by furniture retailer
IKEA shoppers want more technological solutions
Figure 20: UK: IKEA customers, services they would like to see offered by furniture retailers, April 2008
MFI & DFS
Non-specialists
Other specialists
Channels of Distribution
Key points
Large multiples
Small multiples and independents
Department/variety stores
Mail order/Internet
DIY stores
Other
Channel shares
Figure 23: UK: Furniture retailing, channels of distribution, 2007
Retail Competitor Analysis
Key points
Leading retailers
The specialist multiples
The independents
Figure 39: UK: Leading furniture retailers, 2007
Market share
Figure 40: UK: Leading furniture retailers & carpet retailers share of all furniture retailers & carpet retailers sales, 2007
Figure 41: UK: Leading furniture retailers share of consumer spending on furniture, furnishings, carpets and floorcoverings, 2007
And So To Bed
Background
Financial performance
Figure 42: And So To Bed: Group financial performance, 2002/03-2006/07
Store portfolio
Figure 43: And So To Bed: Outlet data, 2002/03-2006/07
Retail offering
Bathstore
Background
Financial performance
Figure 44: Bathstore.com: Group financial performance, 2002/03-2006/07
Store portfolio
Retail offering
Carpetright
Figure 45: Carpetright: Sales as share of carpet retailers’ sales in UK, 2003/04-2007/08
Strategic evaluation
Background
Financial performance
Figure 46: Carpetright: Group financial performance, 2003/04-2007/08
Store portfolio
Figure 47: Carpetright: Outlet data, 2003/04-2007/08
Retail offering
Market positioning
Brands
Product offer
Pricing
Operational issues
Advertising and marketing
e-commerce and home shopping
Conran Shop
Background
Financial performance
Figure 48: Conran Shop Holdings: Group financial performance, 2003/04-2007/08
Retail offering
Dfs
Figure 49: DFS: Sales as share of furniture retailers’ sales in the UK, 2002/03-2006/07
Strategic evaluation
Background
Financial performance
Figure 50: DFS Furniture Company: Group financial performance, 2002/03-2006/07
Store portfolio
Figure 51: DFS Furniture Company: Outlet data, 2002/03-2006/07
Retail offering
Market positioning – cheap chic of sofas?
Product offer and brands – nothing but DFS sofas
Pricing – mid-market, discounted
Operational issues – made in the UK?
Advertising and marketing – more is better?
e-commerce and home shopping
Dreams
Figure 52: Dreams: Sales as share of furniture retailers’ sales in UK, 2003-07
Strategic evaluation
Background
Financial performance
Figure 53: Dreams: Group financial performance, 2003-07
Store portfolio
Figure 54: Dreams: Outlet data, 2003-07
Retail offering
Market positioning
Brands
Product offer
Pricing
Operational issues
Advertising and marketing
e-commerce and home shopping
Feather And Black
Background
Financial performance
Figure 55: Feather And Black: Group financial performance, 2003-07
Store portfolio
Figure 56: Feather And Black: Outlet data, 2003-07
Retail offering
Floors-2-go
Figure 57: Floors-2-go: Sales as share of carpet retailers’ sales in UK, 2002-06
Background
Financial performance
Figure 58: Floors-2-go: Group financial performance, 2002-06
Store portfolio
Figure 59: Floors-2-go: Outlet data, 2002-2006
Retail offering
Brands
Product offer
Pricing
Advertising and marketing
e-commerce and home shopping
Furniture Village
Figure 60: Furniture Village: Sales as share of furniture retailers’ sales in UK, 2003-07
Strategic evaluation
Background
Financial performance
Figure 61: Furniture Village: Group financial performance, 2003/04-2007/08
Store portfolio
Figure 62: Furniture Village: Outlet data, 2003/04-2007/08
Retail offering
Market positioning
Brands
Product offer
Pricing
Operational issues
Advertising and marketing
e-commerce and home shopping
Futon Company
Background
Financial performance
Figure 63: Futon Company: Group financial performance, 2003/04-2007/08
Store portfolio
Figure 64: Futon Company: Outlet data, 2003/04-2007/08
Retail offering
Habitat
Figure 65: Habitat: Sales as share of furniture retailers’ sales in Europe, 2002/03-2006/07
Figure 66: Habitat UK: Sales as share of furniture retailers’ sales in UK, 2002/03-2006/07
Strategic evaluation
Background
Financial performance
Figure 67: Habitat: Group financial performance, 2002/03-2006/07
Store portfolio
Figure 68: Habitat: Company-owned outlet numbers, 2008
Figure 69: Habitat: Outlet data, 2002/03-2006/07
Retail offering
Market positioning
Brands
Product offer
Pricing
Advertising and marketing
e-commerce and home shopping
Heal’s
Figure 70: Heal's: Sales as share of furniture retailers’ sales in UK, 2002/03-2006/07
Background
Financial performance
Figure 71: Heal's: Group financial performance, 2002/03-2006/07
Store portfolio
Figure 72: Heal's: Outlet data, 2002/03-2006/07
Figure 73: Heal's: Outlet locations, 2007
Retail offering
Market positioning
Brands
Product offer
Advertising and marketing
e-commerce and home shopping
HomeForm Group
Figure 74: HomeForm Group: Sales as share of furniture retailers’ sales in UK, 2002-07
Strategic evaluation
Background
Financial performance
Figure 75: HomeForm Group: Group financial performance, 2003-07
Store portfolio
Figure 76: HomeForm Group: Outlet data, 2003-07
Retail offering
Market positioning
Brands
Product offer
Pricing
Operational issues
Advertising and marketing
e-commerce and home shopping
Homestyle Group
Figure 77: Homestyle Group: Sales as share of furniture retailers’ sales in UK, 2002-06
Strategic evaluation
Background
Financial performance
Figure 78: Homestyle Group: Group financial performance, 2002/03-2006/07
Figure 79: JW Carpenter: Group financial performance, 2002/03-2006/07
Store portfolio
Figure 80: Homestyle Group: Outlet data, 2002/03-2006/07
Figure 81: JW Carpenter: Outlet data, 2002/03-2006/07
Retail offering
Advertising and marketing
e-commerce and home shopping
Ikea
Figure 82: IKEA Europe: Sales as share of furniture retailers’ sales in Europe, 2003-07
Background
Strategic evaluation
Financial performance
Figure 83: IKEA: Group financial performance, 2002/03-2006/07
Figure 84: IKEA: Largest markets, 2006/07
Figure 85: IKEA: Sales as share of furniture retailers’ sales in France, 2002/03-2006/07
Figure 86: IKEA France: Performance, 2002/03-2006/07
Figure 87: IKEA: Sales as share of furniture retailers’ sales in Germany, 2002/03-2006/07
Figure 88: IKEA Germany: Performance, 2002/03-2006/07
Figure 89: IKEA: Sales as share of furniture retailers’ sales in Sweden, 2002/03-2006/07
Figure 90: IKEA Sweden: Performance: 2002/03-2006/07
Figure 91: IKEA: Sales as share of furniture retailers’ sales in UK, 2002/03-2006/07
Figure 92: IKEA UK: Performance, 2002/03-2006/07
Store portfolio
Figure 93: IKEA: Number of stores per country, 2006/07
Figure 94: IKEA: Outlet data, 2002/03-2006/07
Figure 95: IKEA: Planned openings, year ending August 2008
Retail offering
Retail offer
Market positioning
Pricing
Operational issues
Figure 96: IKEA: Purchasing by region, 2007
Advertising
Brand and loyalty card
e-commerce
Figure 97: IKEA: Websites
Land of Leather
Figure 98: Land of Leather: Sales as share of furniture retailers’ sales in UK, 2002/03-2006/07
Strategic evaluation
Background
Financial performance
Figure 99: Land of Leather: Group financial performance, 2002/03-2006/07
Store portfolio
Figure 100: Land of Leather: Outlet data, 2002/03-2006/07
Retail offering
Market positioning
Brands
Product offer
Pricing
Operational issues
Advertising and marketing
e-commerce and home shopping
Laura Ashley (Home Furnishings)
Background
Financial performance
Figure 101: Laura Ashley (Europe): Financial performance, 2003/04-2007/08
Store portfolio
Figure 102: Laura Ashley (Europe): Outlet data, 2003/04-2007/08
Retail offering
MFI Retail
Figure 103: MFI UK: Sales as share of furniture retailers’ sales in UK, 2003-07
Strategic evaluation
Background
Financial performance
Figure 104: MFI UK: Group financial performance, 2003-2007/08
Store portfolio
Figure 105: MFI UK: Outlet data, 2003-2007/08
Retail offering
Market positioning
Brands
Product offer
Pricing
Operational issues
Advertising and marketing
e-commerce and home shopping
Multiyork Furniture
Background
Financial performance
Figure 106: Multiyork Furniture: Group financial performance, 2002/03-2006/07
Store portfolio
Figure 107: Multiyork Furniture Ltd: Outlet data, 2002/03-2006/07
Retail offering
Nobia
Figure 108: Nobia: Sales as share of furniture retailers’ sales in Europe, 2003-07
Strategic evaluation
Background
Financial performance
Figure 109: Nobia: Group financial performance, 2003-07
Figure 110: Nobia (UK): Sales by business unit, 2007
The Nordic region
Figure 111: Nobia (Nordic): Sales by business unit, 2007
Figure 112: Nobia (Continental Europe): Sales by business unit, 2007
Store portfolio
Figure 113: Nobia: Outlet data, 2003-07
Retail offering
Market positioning
Figure 114: Nobia: Main businesses’ market positioning, 2008
Brands
Product offer
Figure 115: Nobia (UK, Nordic, Continental Europe): Sales mix, 2007
Pricing
Competition
e-commerce
The Pier Retail Group
Background
Financial performance
Figure 116: The Pier Retail Group: Group financial performance, 2003/04-2007/08
Store portfolio
Figure 117: The Pier Retail Group: Outlet data, 2003/04-2007/08
Retail offering
Reid Furniture
Figure 118: Reid Furniture: Sales as share of furniture retailers’ sales in UK, 2003-07
Strategic evaluation
Background
Financial performance
Figure 119: Reid Furniture: Group financial performance, 2003-07
Store portfolio
Figure 120: Reid Furniture: Outlet data, 2003-07
Retail offering
Market positioning
Brands
Product offer
Pricing
Operational issues
Advertising and marketing
e-commerce and home shopping
ScS Upholstery
Figure 121: ScS Upholstery: Sales as share of furniture retailers’ sales in UK, 2002/03-2006/07
Strategic evaluation
Background
Financial performance
Figure 122: ScS Upholstery: Group financial performance, 2002/03-2006/07
Store portfolio
Figure 123: ScS Upholstery: Outlet data, 2002/03-2006/07
Retail offering
Market positioning
Brands
Product offer
Pricing
Operational issues
Advertising and marketing
e-commerce and home shopping
Sofa Workshop Direct
Background
Current trading operations
Retail offering
Sterling Furniture Group
Background
Financial performance
Figure 124: Sterling Furniture Group: Group financial performance, 2003/04-2007/08
Store portfolio
Figure 125: Sterling Furniture Group: Outlet data, 2003/04-2007/08
Retail offering
Storey Carpets
Figure 126: Storey Carpets: Sales as share of carpet retailers’ sales in UK, 2002-06
Background
Financial performance
Figure 127: Storey Carpets: Group financial performance, 2001/02-2005/06
Store portfolio
Figure 128: Storey Carpets: Outlet data, 2001/02-2005/06
Retail offering
Market positioning
Brands
Product offer
Pricing
Operational issues
Advertising and marketing
e-commerce and home shopping
Tapis Saint Maclou
Background
Financial performance
Figure 129: Tapis Saint Maclou: Group financial performance, 2003-07
Figure 130: Tapis Saint Maclou: Geographical breakdown of sales (estimated), 2007
Allied Carpet Group
Figure 131: Allied Carpets: Sales as share of carpet retailers’ sales in the UK, 2003-07
Store portfolio
Figure 132: Tapis Saint Maclou: Outlet data, 2003-07
Figure 133: Tapis Saint Maclou: Outlet data, 2007
Figure 134: Tapis Saint Maclou: Fascias by country, 2007
Retail offering
United Carpets Group
Background
Financial performance
Figure 135: United Carpets Group: Group financial performance, 2004/05-2006/07
Store portfolio
Figure 136: United Carpets Group: Outlet data, 2004/05-2006/07
Retail offering
e-commerce and home shopping
Retailer Advertising and Promotion
Key points
Trends in advertising expenditure
Leading retailers
DFS
Others
Figure 137: UK: Furniture specialists’ retailing advertising expenditure, by retailer, 2003-07
Advertising by media
Figure 138: UK: Main media advertising, by leading furniture retailers, by media usage, 2007
Appendix – Internal Market Environment
Figure 139: UK: Penetration and purchasing of major items of furniture, by demographic sub-group, 2007
Figure 140: UK: Penetration and purchasing of major items of furniture, by demographic sub-group, 2007
Appendix – Where They Shop for Furniture and Spending Intentions
Figure 141: Outlets used for buying furniture in the last three years, by deomographic sub-group, April 2008
Figure 142: Outlets used for buying furniture in the last three years, by deomographic sub-group, April 2008
Figure 143: Outlets used for buying furniture in the last three years, by deomographic sub-group, April 2008
Figure 144: Likelihood of buying furniture or floorcoverings over the next 12 months, by demographic sub-group, April 2008
Appendix – How They Shop for Furniture
Figure 145: Services consumers would like to see offered by furniture retailers, by demographic sub-group, April 2008
Figure 146: Services consumers would like to see offered by furniture retailers, by outlets used, April 2008
Figure 147: Services consumers would like to see offered by furniture retailers, by demographic sub-group, April 2008
Figure 148: Services consumers would like to see offered by furniture retailers, by outlets used, April 2008
Figure 149: Services consumers would like to see offered by furniture retailers, by demographic sub-group, April 2008
Figure 150: Services consumers would like to see offered by furniture retailers, by outlets used, April 2008

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