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UK Furniture & Flooring Sector Report | Trends & Data

March 2024

What's included in this report?

  • Market Share - Top 10 Furniture and Flooring retailers
  • Market Size estimates (£m)
  • Furniture and Flooring Sales Growth by category
  • Total Spending by category (£m)
  • Online Furniture and Flooring Sales (y-o-y)
  • Forecasts for 2024 - 2028
  • Footfall by channel and region
  • Regional Weather data and more…

UK Furniture & Flooring Sector Report : March 2024

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Report Summary

Period covered: 31 December – 27 January 2024

3 minute read

 

Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Become a member to access this data or take out a free 30 day membership trial now.

 

Furniture & Flooring sales

 

Furniture & Flooring sales fell by xx% YoY in January, according to the Retail Economics Retail Sales Index.

ONS data shows the wider Households Goods category faced flat shop price inflation in the month, pointing to a continued decline in sales volumes.

 

 

Harsh macroeconomic backdrop

Furniture & Flooring sales declined in January as households prioritised forms of discretionary spending away from the home.

Inflation remained unchanged at 4.0% in the month, undercutting economists’ forecasts of xx%. Combined with strong earnings growth and easing mortgage rates, weaker inflation saw consumer confidence edge up three points to -19 in January (GfK).

GfK’s major purchase index also increased by three points to -20, albeit both key confidence measures remain firmly in negative territory.

Notably, household goods put downward pressure on inflation in January, with the annual inflation rate from the furniture and furnishings, and carpets and other floorcoverings components falling to the lowest level since December 2020.

 

 

 

Housing market subdued

 

Furniture & Flooring sales are being affected by a cooling housing market, which is reducing demand for products purchased both within and outside house moves.

Average UK house prices rose on both an annual (+2.5%) and a monthly (+1.3%) basis in January, according to Halifax.

Although this reflects in part greater buyer confidence arising from improving macroeconomic indicators and easing mortgage rates, market conditions remain tough.

Indeed, Retail Economics’ analysis of provisional ONS estimates reveals a xx% YoY decrease in property transactions in December 2023 (non-seasonally adjusted).

 

 

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Housing transactions fall below pandemic-era peaks

Source: ONS

Latest monthly UK Furniture & Flooring Sector Report

Report: January 2024 3 minute read   Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Become a me... read more
Report: December 2023 3 minute read   Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Become a me... read more
Report: November 2023 3 minute read   Note: This report summary is one or two months behind the current month as standard reporting practice. The content is indicative only and incomplete with certain data undisclosed. Become a me... read more
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Report Contents

UK Furniture & Flooring Sector Report Report
  • Executive Summary

  • Sector analysis

  • Furniture and Flooring - Retail Economics Index

  • Macro Factors

  • Mortgages and Savings

  • Credit and Borrowing

  • Household Spending

  • Consumers

  • Footfall

  • Labour market

  • Earnings

  • Costs, Prices and Margins

  • Weather Watch

  • Average Temperature

  • Average sunshine hours

  • Average Rainfall

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About our reports and subscriptions

Retail Economics publishes monthly Retail Sector Reports for the UK Furniture and Flooring sector giving you actionable insights for your business.

 

It provides in-depth analysis of the latest macroeconomic and consumer trends affecting the Furniture and Flooring sector including market size estimates for: Living Room Furniture, Bedroom Furniture, Flooring, Bathroom and more.

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