Market Trends of United Kingdom Home Decor Industry
This section covers the major market trends shaping the UK Home Decor Market according to our research experts:
Rise in Expenditure on Furniture and Furnishings
The rise in consumer demand and choices is contributing to the manufacturers' growth in the market. The product demand is fueled by consumer preferences for fancy items to decorate in homes, particularly wooden flooring and furniture. These fancy and premium products help provide spiritual and aesthetic pleasure, which adds to the sophistication of consumers living in the house. Household consumption expenditure is the market value of all goods and services, including durable products purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings.
Online Channel is Expected to Grow Fastest
Factors, such as globalization, access to the internet, and the rising users shopping from online channels, are expected to support the e-commerce channel of home decor distribution in the market. However, offline channels still dominate the market. Popular online stores in the UK furniture market include John Lewis, Wayfair Co., Argos, Amazon, and Next. Wayfair is trying to capture market share in the United Kingdom's home décor category and investing in logistics infrastructure. It is also leading the market by deepening its product categories and reaching online to customers. Dunelm is popular in the market in terms of dining tables, with its pine or folding table highly regarded in the market.
