UK Homewares Sector Report summary
April 2024
Period covered: Period covered: 25 February – 30 March 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.
Homewares sales
Homewares sales grew by xx% YoY in March, according to the Retail Economics Retail Sales Index.
Homewares was the top performing household goods sector in March, seeing positive sales growth compared to figures of xx% for Furniture & Flooring and xx% for DIY & Gardening.
Early Easter demand
GfK’s consumer confidence index remained unchanged from the previous month in March at xx. However, the Major Purchase Index fell further into negative territory, decreasing by xx points to xx.
This was households refrain from big-ticket furniture items and large-scale home improvement projects.
Elevated living costs alongside largely dull, wet weather throughout March saw dampened demand for big ticket household goods products and garden furniture.
However, demand for smaller household goods was more resilient as households were benefiting from seasonal influences. The approach of Easter promoted sales of kitchenware and tableware as households prepared to host large gatherings to mark the occasion.
Demand for homewares further grew as households updated their interiors ahead of spring.
Online household goods
Online Household Goods sales xxxx by xx% YoY in March, against a xx% rise a year ago, the xxxx performance since xxxx.
The inclusion of Easter in this month’s trading period provided a boost to lower value homewares. However, this was outweighed by ongoing weakness in household budgets, with confidence in making major purchases edging lower in March (GfK).
Online sales accounted for xx% of overall Household Goods retail sales in March, xxxx on the xx% proportion a year ago.
Average weekly spend was £xx in March, down from the £xx spent in the same month a year earlier.
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Online household goods – spend vs. growth
Source: ONS, Retail Economics analysis
