The turnover in the Repair of Furniture and Home Furnishings sector in France has experienced significant fluctuations over the past decade. Starting from €286.7 million in 2013, the sector saw a sharp drop to €222.0 million in 2014. This downward trend continued, hitting a low of €163.2 million in 2017 before a brief recovery in 2018 with €192.3 million. Despite a minor bounce back in 2020, turnover continued to decline, reaching €150.3 million in 2023. This represents a year-on-year decline of 4.27% in 2023.
The Compound Annual Growth Rate (CAGR) for the last five years leading up to 2023 was negative at -4.81%, indicating a continual contraction in the sector. Forecasts suggest this declining trend will persist, with an expected CAGR of -4% from 2024 to 2028. By 2028, turnover is projected to further decrease to €117.1 million, translating to an overall forecasted 18.45% decline over the five-year period.
Future Trends to Watch:
- Sustainability: Increasing consumer preference for sustainable living may boost demand for furniture repair.
- Technological Advances: Innovation in repair technologies could improve efficiency and reduce costs, potentially stabilizing the sector.
- Economic Conditions: Macroeconomic factors will continue to significantly impact consumer spending on non-essential services like furniture repair.
