2014-03-13 19:15:01 - The UK Kitchen Furniture Market to 2016 - a new market research report on companiesandmarkets.com
The United Kingdom kitchen furniture market has now been in constant decline since the onset of recession in 2008 and this year will see a further shrink of around 3%. The good news is that the market will begin to stabilize next year, before moving into growth in 2014, as the housing market begins to pick back up. Over the next five years we expect total market growth to be a modest 2.2%. Cabinetry will grow slightly more strongly than the overall market at 2.3%, while worktops will grow more slowly at just 1.6%.
A tough economic climate means that purchasing is now more driven by a need to replace than it is by moving home and a desire to have
a new look. The replacement cycle has become extended and made it more challenging for retailers to persuade people to buy. However, campaigns focusing on the benefits of new kitchens and inviting consumers to think whether their existing set up is suitable or capable of improvement continue to have resonance. Kitchens are not something that most consumers purchase regularly. This, combined with the fact that there are so many choices and technical considerations, makes the buying process very complicated. Service and an environment which suggests that good service is offered is an important consideration.
Between them the DIY players have a 33.5% share of the kitchen furniture market; we forecast this will continue to grow out to 2016. Within the DIY segment, and indeed within the market as a whole, B&Q dominates with a 16.2% share. As far as retailers are concerned, the market has a fairly clear grouping into value end, mid-market and premium players. The middle market is the largest and most crowded segment of the kitchen sector. Within this space there seems to be a grater focus on tapping into the upper segment focusing on quality and slightly higher price points.
This report provides an in-depth examination of the UK retail market for kitchen furniture covering market data, key retail players and consumer behavior.
Introduction and Landscape
Part of our home retail research programme, this report provides detailed and comprehensive insight into what consumers are buying across the kitchen furniture category, what they´re spending, where they´re shopping and why. The report also reviews leading players in the market and assesses their future prospects. Strategic analysis helps you to understand what actions your business needs to take in the market to win over the next five years.
Key Features and Benefits
The report covers:
We provide overall, sector, category and product market values to give you a detailed overview of market potential; current and historic values are included
On a sector and category level we provide future forecasts over a five year timeframe; at product level we provide a directional forecast over a two year time window
Market shares for the leading retailers are included at category level. A future outlook is also provided for the main players to help you understand the future direction of market share.
The leading retailers are profiled: critical metrics like store numbers, financials and, shares are provided along with an analysis of current strategy and future outlook.
Statistics on who´s shopping for what are provided; these give a clear view on the most important consumer segments and groups.
The overall dynamics of the kitchen furniture category are provided; this gives an understanding of the drivers of demand both currently and over the next five years.
Ideation and innovation:
Using all data and analysis, we provide broad suggestions for winning strategies that successful businesses will need to employ in the kitchen furniture market.
Key Market Issues
1. Understand how the market´s performing
This report forecasts what the size of the kitchen furniture market will be over the next few years and give an indication of the sources of growth. In today´s turbulent market knowing where things are likely to go is essential for planning.
2. Explore the trends in the market
The report is written and complied by experts in the retail market. Rather than just presenting a mass of raw data, this expertise ensures the report explains why certain trends and patterns exist. In turn this allows you to understand the context of the market which aids your own decision making.
3. See what actual consumers think about your brand
The report contains analysis direct from the very people that shape demand: consumers. A whole range of consumer dynamics are included, explaining purchase triggers, brand and retailer preferences and conversions, and purchase considerations. In short they allow you to understand what people think about your brand or store.
4. Use the reports to shape strategy
The reports just leave you hanging. They contain practical tips and advice on how to succeed in the market and are a source of ideas. The analysis and insight help you with planning, strategy and exercises such as repositioning or brand development.
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