The Homewares Market*
The UK homewares market is worth over £13bn per year. Based on estimated GlobalData research, the homewares market has grown in FY18 and this is supported by our internal analysis, based on actual weekly sales data for our trading period. Growth in the market has been driven by price, rather than volume, which our analysis indicates has declined in the year.
Online penetration is still growing, and estimated to be 13.6% in 2018 (2017: 12.7%), and is forecast to reach 16.5% by 2022. Improved convenience through shorter delivery times and cheaper deliveries will support growth. Stores continue to play a key role in the shopping journey with research highlighting an increasing importance of the in-store experience to consumers.
Most consumers purchase homewares every four to six months and the most frequent and highest spending shoppers are 25-34 year-olds. Younger shoppers especially are influenced by trends and design-led ranges.