Market Trends of United Kingdom Homeware Industry
This section covers the major market trends shaping the UK Homeware Market according to our research experts:
Increased Spending on Furniture and Appliances is Driving the Market's Growth
The UK homeware market has been recording modest growth during the review period, overcoming the economic and political uncertainty due to Brexit. The majority of product categories, including home furniture, home textiles, and home appliances, have been recording Y-o-Y growth in the number of transactions owing to the increasing usage in households. During 2020, homeware market products, especially home décor products and furniture, grabbed more customer attention as the majority of customers had switched to working-from-home practices. This also drove the demand for home office furniture and small kitchen appliances, including coffee makers and grills, among others, owing to the more time customers got to spend at home. The trend is anticipated to help the specific segments to record more revenues in the country in the forecast period.
Growing Demand for Online Distribution Channels is Helping the Market in Recording More Transactions
The United Kingdom offers a high number of online channels that provide dedicated homeware products for customers to buy. The developed nation, coupled with the high access to the internet and the majority of customers who are willing to purchase their products via online or e-commerce channels, is helping the market to grow faster in the country. Though, owing to the luxury products expected from segments such as home decor and lighting, among others, requiring more customer attention to detail has restricted the segment to an extent during the review period. However, the COVID-19 pandemic and the closure of physical retail stores for a long time have been helping online distribution channels record more revenues.
