Housewares And Home Furnishings in Mexico
Euromonitor International's Housewares And Home Furnishings in Mexico market report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments, packaging innovations, economic/lifestyle influences, distribution or pricing issues. Forecasts illustrate how the market is set to change.
Tables: 40 | Publication date: Nov 2009
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
Home furnishings; Housewares
Executive summary
Market growth rates declines after years of constant expansion
The housewares and home furnishings industry in Mexico experienced high growth rates until 2008 when the growth rate significantly declined. The favourable macroeconomic conditions faced by the industry in previous years changed in the second semester of 2008 and the industry experienced its lowest growth rate in six years. The market slowdown affected all the subsectors in the industry and some registered negative growth rates for 2008. Manufacturers and retailers are making changes in their product mix and pricing strategies to get back to the growth levels from previous years.
Housing expansion limited market performance
The slowdown of economic activity had a direct negative impact on the housing sector and as a consequence the housewares and home furnishings market did not perform as well as previous years. In previous years, the housing sector had been supported by a large expansion of the mortgage sector. The slowdown of the Mexican economy and the high unemployment rates also contributed to the decline in the housing sector. Even those consumers who were able to buy a new house were not able to purchase housewares and home furnishings because of their restricted budget. Manufacturers and retailers are developing strategies to attack the market of those new homeowners that were not able to buy housewares and home furnishings for their new homes.
Kitchenware shows fastest growth
Even though kitchenware represents just above 5% of home furnishings, this subsector has shown the highest growth rates among the other subsectors in the industry. Consumers are becoming involved in using kitchenware items for both practical and decorative purposes. Manufacturers from products targeting the high income segments of the population are leading this trend; these manufacturers are designing products with decorative features. Manufacturers are also launching products with professional-like features. This trend has been supported by the increased presence of consumers in specialised kitchenware stores for foodservice companies and restaurants; retailers have reacted to this trend by opening specialised kitchenware stores and targeting consumers.
Small shops increase price awareness
The proliferation of small shops from independent manufacturers has increased the price awareness among consumers. In previous years, consumers have had to spend considerable time to make an informed purchase decision. Small shops are competing with large furniture and furnishing stores by offering lower prices, they have this capability because they do not have high stock and inventory costs. The price information given by these small shops has improved the consumers’ awareness in terms of the price of the products and as a consequence furniture and furnishings stores have been forced to lower their prices for some of their products in an effort to keep their share. The individual share of these shops is very small and the strategy has not paid off for them in terms of market share since large furniture and furnishing stores have increased their share in recent years.
Slow recovery expected in 2010
The poor performance of the market experienced in 2008 is expected to worsen in 2009. The macroeconomic conditions that support the growth of the sector are not expected to return until the second semester of 2010. The market is expected to recover together with the whole economy, in the meantime manufacturers and retailers will try to maintain their sales levels by introducing products at lower prices. The sector is expected to fully recover by 2011 when the average consumers’ disposable income level and confidence about future economic performance will increase.
Table of contents
HOUSEWARES AND HOME FURNISHINGS IN MEXICO : MARKET INSIGHT
EXECUTIVE SUMMARY
Market growth rates declines after years of constant expansion
Housing expansion limited market performance
Kitchenware shows fastest growth
Small shops increase price awareness
Slow recovery expected in 2010
KEY TRENDS AND DEVELOPMENTS
Contemporary style items support market growth
Houses in suburbs favour product standardisation
The size of families affects house dimensions
Consumers take advantage of credit to furnish homes
Macroeconomic conditions affected performance
MARKET DATA
Table 1 Sales of Housewares and Home Furnishings by Sector: Value 2003-2008
Table 2 Sales of Housewares and Home Furnishings by Sector: % Value Growth 2003-2008
Table 3 Housewares and Home Furnishings Company Shares 2004-2008
Table 4 Housewares and Home Furnishings Brand Shares 2005-2008
Table 5 Sales of Housewares and Home Furnishings by Distribution Format: % Analysis 2003-2008
Table 6 Forecast Sales of Housewares and Home Furnishings by Sector: Value 2008-2013
Table 7 Forecast Sales of Housewares and Home Furnishings by Sector: % Value Growth 2008-2013
DEFINITIONS
Housewares and Home Furnishings
Housewares
Home furnishings
Summary 1 Research Sources
LOCAL COMPANY PROFILES - MEXICO
CRISA SA DE CV - HOUSEWARES AND HOME FURNISHINGS - MEXICO
STRATEGIC DIRECTION
KEY FACTS
Summary 2 CRISA SA de CV: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 3 Crisa SA de CV: Competitive Position 2008
EKCO SA DE CV - HOUSEWARES AND HOME FURNISHINGS - MEXICO
STRATEGIC DIRECTION
KEY FACTS
Summary 4 EKCO SA DE CV: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 5 EKCO SA DE CV: Competitive Position 2008
ELEKTRA SA DE CV, GRUPO - HOUSEWARES AND HOME FURNISHINGS - MEXICO
STRATEGIC DIRECTION
KEY FACTS
Summary 6 GRUPO ELEKTRA SA DE CV: Key Facts
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 7 GRUPO ELEKTRA SA DE CV: Competitive Position 2008
INDUSTRIAL SALTILLO, GRUPO - HOUSEWARES AND HOME FURNISHINGS - MEXICO
STRATEGIC DIRECTION
KEY FACTS
Summary 8 Grupo Industrial Saltillo: Key Facts
COMPANY BACKGROUND
COMPETITIVE POSITIONING
Summary 9 Grupo Industrial Saltillo: Competitive Position 2008
SEB MEXICANA SA DE CV, GROUPE - HOUSEWARES AND HOME FURNISHINGS - MEXICO
STRATEGIC DIRECTION
KEY FACTS
Summary 10 GROUPE SEB MEXICANA SA DE CV: Key Facts
Summary 11 GROUPE SEB MEXICANA SA DE CV: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 12 GROUPE SEB MEXICANA SA DE CV: Competitive Position 2008
HOUSEWARES IN MEXICO
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 13 New Product Launches 2008- 2009
SECTOR DATA
Table 8 Sales of Housewares by Subsector: Value 2003-2008
Table 9 Sales of Housewares by Subsector: % Value Growth 2003-2008
Table 10 Sales of Housewares by Type: % Value Breakdown 2003-2008
Table 11 Sales of Cookware by Type: % Value Breakdown 2003-2008
Table 12 Sales of Kitchenware by Type: % Value Breakdown 2003-2008
Table 13 Sales of Tableware and Crockery by Type: % Value Breakdown 2003-2008
Table 14 Sales of Cutlery by Type: % Value Breakdown 2003-2008
Table 15 Housewares Company Shares 2004-2008
Table 16 Housewares Brand Shares 2005-2008
Table 17 Sales of Housewares by Distribution Format: % Analysis 2003-2008
Table 18 Forecast Sales of Housewares by Subsector: Value 2008-2013
Table 19 Forecast Sales of Housewares by Subsector: % Value Growth 2008-2013
HOME FURNISHINGS IN MEXICO
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
New Product Developments
Summary 14 New Product Launches 2008- 2009
SECTOR DATA
Table 20 Sales of Home Furnishings by Subsector: Value 2003-2008
Table 21 Sales of Home Furnishings by Subsector: % Value Growth 2003-2008
Table 22 Home Furnishings Company Shares 2004-2008
Table 23 Home Furnishings Brand Shares 2005-2008
Table 24 Sales of Home Furnishings by Distribution Format: % Analysis 2003-2008
Table 25 Forecast Sales of Home Furnishings by Subsector: Value 2008-2013
Table 26 Forecast Sales of Home Furnishings by Subsector: % Value Growth 2008-2013