The bedroom furniture market has been severely impacted by Covid-19, according to the latest report from AMA Research.
The Domestic Bedroom Furniture Market Report – UK 2020-2024 forecast that bedroom furniture sales will fall to £595 million in 2020, down by nearly a quarter (22 percent) from £760m in 2019.
The report blamed the fact that the Covid-19 pandemic, which has changed consumer buying habits with homeowners prioritising the conversion of spare rooms into home offices rather than spare or guest bedrooms.
Good news for those retailers who have moved into selling home offices and studies but bad news for bedroom furniture sales.
The bedroom furniture market had been on an upward trend, with sales up 6 percent in 2019 (£760m) from £715m in 2018. There were also increases in sales of freestanding and fitted bedroom furniture, which accounted for 27 percent of the market by value. Modular furniture also showed an increase in popularity, according to the report – a trend likely to be sustained by the trend towards smaller houses.
The report concluded that prospects for the next four years remained uncertain, “with the end of the pandemic still not in sight and the outcome of the ongoing Brexit negotiations yet to be determined”.
The report forecast that post-Covid, sales over the next few years would regain their upward trajectory. The AMA graph shows that forecasts suggest sales would rise by 10 percent to around £655m in 2021, £695m in 2022, reaching £720m in 2023.