Key regions: India, France, United States, Canada, Denmark
The Home Décor market in United Kingdom has been experiencing significant growth in recent years. Customer preferences have shifted towards more modern and minimalist designs, with a focus on sustainable and eco-friendly materials. This trend is in line with the global market, where consumers are increasingly conscious of the environmental impact of their purchasing decisions. Additionally, the rise of online shopping has greatly influenced the Home Décor market, providing consumers with a wider range of options and the convenience of shopping from home.
Customer preferences: In the United Kingdom, customers have shown a strong preference for modern and minimalist designs in their home décor choices. This trend reflects a desire for clean lines, simplicity, and functionality in interior design. Additionally, there is a growing demand for sustainable and eco-friendly materials, as consumers become more aware of the environmental impact of their purchasing decisions. This has led to an increase in the popularity of products made from recycled or renewable materials, such as bamboo and reclaimed wood.
Trends in the market: One of the key trends in the Home Décor market in the United Kingdom is the rise of online shopping. With the convenience of shopping from home and the ability to compare prices and products from different retailers, online shopping has become increasingly popular among consumers. This trend has also led to the emergence of online-only retailers, who are able to offer a wider range of products and competitive prices due to lower overhead costs. As a result, traditional brick-and-mortar retailers have had to adapt their business models to stay competitive in the market. Another trend in the Home Décor market in the United Kingdom is the increasing popularity of DIY home improvement projects. With the rise of social media platforms such as Pinterest and Instagram, consumers are now more inspired than ever to take on DIY projects and personalize their living spaces. This trend has led to an increase in the demand for DIY home décor products, such as paint, wallpaper, and furniture restoration supplies.
Local special circumstances: The United Kingdom has a rich history of interior design and craftsmanship, which has influenced the local Home Décor market. British consumers value quality and craftsmanship, and are willing to pay a premium for products that are made in the UK. This has created opportunities for local artisans and manufacturers to thrive in the market, offering unique and high-quality home décor products.
Underlying macroeconomic factors: The Home Décor market in the United Kingdom is also influenced by underlying macroeconomic factors. For example, changes in disposable income levels and consumer confidence can impact consumer spending on home décor products. Additionally, fluctuations in the housing market can affect the demand for home décor products, as consumers are more likely to invest in their homes when property prices are rising. In conclusion, the Home Décor market in the United Kingdom is experiencing growth due to shifting customer preferences towards modern and minimalist designs, the rise of online shopping, and the increasing popularity of DIY home improvement projects. Local special circumstances, such as a focus on quality and craftsmanship, also play a role in shaping the market.
Data coverage:
Data encompasses B2C enterprises. Figures are based on home furnishings and furniture found in every room of the home. This market is segmented by the room where the furniture is likely to be used and consists of the following: Living Room, Bedroom, Kitchen and Dining room, Bathroom, Outdoor, and Home Office. The Furniture market also includes Lamps and Lighting and Home Decor because the furnishings and accessories within these segments are not specific to any room.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as consumer spending and GDP. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing is well suited for forecasting the Furniture market with a projected steady growth. The main drivers are furniture and furnishings, carpets and other floor coverings, and consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.
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