Household storage

Published: August 2016
No. of Pages: 73
    ReportsandReports

Summary

The household storage market grew by 2.0% in 2015, marginally underperforming the overall homewares market. This underperformance will continue into 2016 due to declines for physical entertainment products impacts the demand of home entertainment products. However, its more utilitarian nature will help shield it from the worst of Brexit, as it outpaces total homewares from 2017 onwards.

Key Findings

  • Online plays a major part in the household storage market, as its utility makes it easier to purchase online without seeing the products first. In addition, with retailers improving their online platforms and delivery options, it is becoming easier for shoppers to purchase goods and have the confidence that they will be home when they arrive - this is particularly important for shoppers purchasing large storage options.
  • BandM has been the main winner within household storage since 2011, to become the fourth largest retailer in the sub-sector. This uplift has been driven by its strong price focus and rapid expansion. Future openings may also include town centre stores, a strong move that will capitalise on passing trade. However, BandM must focus on improving like-for-likes.
  • The main motivation for buying household storage products is replacement, as the heavy usage of certain products leads to them wearing out or breaking sooner. However, design is becoming more important, with most homeowners wanting items to co-ordinate with existing fixtures and a greater proportion of shoppers buying into a new look.

Synopsis

Household storage 2016 is part of Verdict Retail's Home Retail Series of report, which provides expert insight into the household storage market, with forecasts of values and volumes up to 2021. It delivers deep quantitative and qualitative insight into the UK market, analysing key trends in the market based consumer data from Verdict Retail's survey.

It provides in-depth analysis of the following:

  • Key issues and strategies for success within the household storage market in the UK
  • Market size and forecast; a look at the total market size and forecast size for the household storage market in the UK.
  • Retailer profiles; a detailed look at the dominant players including market shares and outlooks.
  • Consumer data: a detailed looks at what, how and where people are buying household storage products.

Reasons To Buy

  • This HRS Report helps executives build proactive, profitable growth strategies by offering comprehensive, relevant analysis of the household storage market based on insights from Verdict's annual bespoke consumer survey and analyst insight.
  • The report is designed for an executive-level audience, boasting presentation quality that allows it to be turned into presentable material immediately.
  • The broad but detailed perspective will help manufacturers and retailers to understand the opportunities within the household storage market.

Companies Mentioned

  • Oak Furniture Land
  • IKEA
  • John Lewis
  • Harveys
  • Argos
  • Homebase
  • Marks and Spencer
  • Furniture Village
  • DFS
  • Next

Published By: GlobalData
Product Code: Verdict667


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