According to a new report by ReportsWeb – The UK Homewares Market 2018-2023 – demand for homewares is expected to increase as housing transactions pick up.
A fast fashion attitude to homewares among retailers and influencers is leading younger shoppers to purchasing homewares more frequently, with 60% of 16-24 year olds and 70% of 25-34 year olds purchasing homewares at least every seven to nine months. Decorative homewares however, are predicted to have the slowest growth of all sub-categories as consumers cut back on non-essential spending.
By 2023, it is predicted that general merchandise will overtake homewares specialists and become the leading channel for homewares with 28.1% of the market.
Meanwhile, good news for cookshops is that kitchenware will be the most shopped for category, with growth largely driven by the health and wellness trend which has created a greater interest in cooking from scratch.
The UK Homewares Market 2018-2023 analyses the market, the major players, the main trends and consumer attitudes, covering five different homewares sub-sectors.
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Top: Housing transactions are driving the market for homewares says a new report.
