;
COVID-19 SERVICE: We are heightening our efforts to assist the UK retail & leisure industry through this challenging period. Explore this service now… COVID-19 SERVICE

UK Furniture & Flooring Sector Report | Trends & Data

December 2023

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 2023 - 2027
  • Footfall by channel and region
  • Regional Weather data and more…

UK Furniture & Flooring Sector Report : December 2023

Access report with a free trial subscription

No payment required. Free for 30 days. Cancel anytime

Report Summary

Period covered: 27 August - 30 September 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 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 September, according to the Retail Economics Retail Sales Index.

ONS data shows the wider Households Goods category faced xx% YoY shop price inflation in the month, pointing to declining sales volumes.

Sales volumes in the Household Goods category fell by xx% YoY in September (ONS).

 

 

Macroeconomic challenges remain

September saw Furniture & Flooring sales struggle against a tough macroeconomic backdrop.

Although consumer confidence increased four points to -21 in September, this was offset by a sharp decline to -30 in October, the sharpest month-on-month decline since December 1994 (GfK).

This erased the gradual increases in confidence recorded over the summer months and points to persistent negative effects of rising petrol prices, higher mortgage and rental costs, and a slowing job market on consumer sentiment.

Amid such cost-of-living pressures, household goods remain low on households’ spending priorities, marking a sharp contrast with the growth experienced by the sector over the pandemic.

Spending on larger and big-ticket household goods products, such as furniture and flooring are at particular risk of cut back, as consumers prioritise small-ticket and essential household spending.

Indeed, GfK’s Major Purchase Index fell by a staggering fourteen points to -34 in October, revealing widespread reluctance to spend on major home improvements.

 

 

 

Consumers seek value and familiarity 

The UK housing market, a key driver of Furniture & Flooring sales, remained under considerable pressure in September.

House prices fell 4.7% YoY in the month (Halifax), while indicators for buyer enquiries, agreed sales and new instructions are still firmly in negative territory (RICS).

This comes as the Bank of England held interest rates at 5.25% in September, which follows 14 consecutive increases.

The decision provided little hope for near-term recovery as market expectations point to sustained high interest rates in the coming months.

Following a decade of ultra-low and stable interest rates, prospective buyers are delaying house moves where possible until there’s greater clarity on the onward trajectory of rates.

Indeed, a recent survey by Houzz found that xx% of respondents preferred to stay put in their current homes than consider moving, primarily for financial reasons.

 

 

Take out a FREE 30 day membership trial to read the full report.

 

 

Housing market cooling

Source: Halifax

Latest monthly UK Furniture & Flooring Sector Report

Report: September 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: August 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: July 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
View Archive

Need more insight on UK retail?

Try a FREE 30 day trial subscription

How it works
  • Free for 30 days, no payment details, cancel anytime
  • Create account and log into your retail insight dashboard
  • Download free retail economic and sector reports
  • Download thought leadership reports and presentations
  • Access time series data and much more…
Get insight with a FREE trial subscription

Trusted by

    Sainsburys Argos O2 Barclays Warner Bros Akznobel Sky British Land

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

3 reasons to use us


We live & breathe retail 

Get a deep understanding of UK furniture & flooring sales and the motivations that drive consumer behaviour from our trusted experts


Our reports are written with you in mind

Our monthly reports are concise, punchy with powerful exec summaries that will accelerate your data intake. We give you all the need-to-know trends 


We're trusted and independent

We have a proven track record of achievements and deliverables that come from being truly independent. We 'tell it how it is' so you get the real picture

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.

Other popular retail reports

Top