Recently published research from Euromonitor International, "Home Furnishings in Spain", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 10/27/2014 -- The weak situation of the real estate market continues to be the main burden for the evolution of home furnishing in Spain. As the prices of real estate continue to fall, the interest of Spaniards in investing in properties lessens. The restriction of access to credit is another factor which discourages purchases of new houses by consumers. According to the National Institute of Statistics (INE), purchases/sales of new floors showed a double digit drop in the previous year. This impacted volume sales of all categories of home furnishing during 2013.
IKEA Iberica led sales of home furnishing in Spain, closing 2013 with total share of 11% which represents value sales of EUR983 million. The relevance of IKEA within the category is attributed to its vast range of products with contemporary design at very affordable prices. The Swedish home furnishing and homeware specialist benefited from the high consumer frugality and rise in demand for DIY and low-priced kit furniture, which resulted in the company increasing its share within home furnishings for another consecutive year, showing the most dynamic performance of 2013.
View Full Report Details and Table of Contents
It is expected that during the forecast period, the extension of the recession will continue shaping the purchasing patterns of Spanish consumers, especially during the first part of the period. Despite the improvement in the economy expected from 2015 onwards, according to data of the IMF, the fact that the unemployment rate is expected to remain over 25% until 2017 will continue restricting spending among consumers. This will hinder the performance of home furnishings, as it will discourage renewal and investment in new furniture. With a clear focus on price and spending, the demand for low-cost furniture in kit format will rise; a factor which will further limit value growth of the sector. As a result, home furnishings will post a negative value CAGR of 1% at constant 2014 prices during the forecast period.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 800-844-8156
Browse all Consumer Goods research reports at Fast Market Research
You may also be interested in these related reports:
- Home Furnishings in Turkey
- Home Furnishings in Poland
- Home Furnishings in Germany
- Home Furnishings in Mexico
- Home Furnishings in the United Arab Emirates
- Home Furnishings in China
- Home Furnishings in the US
- Home Furnishings in Singapore
- Home Furnishings in Canada
- Home Furnishings in South Korea