The Furniture Market†
The UK furniture market is estimated to be worth £11.4bn in 2019. The market has been impacted by economic uncertainty, lower consumer confidence and the weaker housing market.
However, the online furniture market is expected to be one of the fastest growing markets between 2019 and 2023 as customers become increasingly more comfortable with big tickets purchases (Global data). Online penetration is forecast to grow to 22.4% by 2023.
Technology is supporting this growth journey by providing customers with sharper, clear images on screen, videos and angles that allow you to see the product quality up close. Technology like augmented reality allows the customer to place the product in their home using their mobile phone before deciding to buy online.
Furniture retailers must do more to link their online and store experience to enable customers to shop how and when they want.
The market is expected to continue to consolidate and Dunelm is well positioned to build on its multichannel offer to provide the customer with a wide range of products in co-ordinated collections at a great price.