1. Comment
December 20, 2018

Consumer spend expectations in furniture spike

Spend expectations among furniture shoppers, particularly those buying sofas and mattresses, have risen considerably over the last four years – 14.7% for a sofa and 13.4% for a mattress.

By GlobalData Consumer

Spend expectations among furniture shoppers, particularly those buying sofas and mattresses, have risen considerably over the last four years – 14.7% for a sofa and 13.4% for a mattress. The emergence and popularity of premium furniture retailers such as Made.com, Loaf.com and Simba, which began to influence the market in 2015, have altered consumer expectations around spend.

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That also means consumers are more likely to need to save for these items, or pay using finance, which is particularly the case for a sofa (almost 70% of consumers). And, that consumers are more likely to hang onto the piece for longer; only 5% of consumers would replace a sofa less than three years after purchase.

Spend expectation among consumers for key furniture items, 2015–2018, £

Length of time it takes consumers to save for key furniture items, %

Source: GlobalData survey of 12,000 UK consumers, November 2018

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What are the key consumer trends driving FMCG in 2022?

The consumer landscape has permanently changed since the COVID-19 pandemic began, prompting trends to emerge or accelerate, causing subsequent macro-economic shifts. In order to stay relevant, Consumer Packaged Goods companies must stay abreast of these developments. It is here that GlobalData can offer valuable assistance. Download GlobalData’s Trendsights: Trends to Watch in 2022 report to:
  • Gain insight into the 12 most important trends across the FMCG value chain
  • See the consumer survey data that underpins these insights
  • Learn what early-movers are already doing in terms of NPD and product marketing
Take a look at this report to give yourself the best standing in this developing market.
by GlobalData
Enter your details here to receive your free Report.