Household storage
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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.
Scope
• 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.
• B&M 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, B&M 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.
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.
IKEA
John Lewis
Harveys
Argos
Homebase
Marks and Spencer
Furniture Village
DFS
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