Housewares And Home Furnishings in Singapore
Euromonitor International's Housewares And Home Furnishings in Singapore 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: 36 | Publication date: Aug 2008
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
Brighter economy gives consumers more confidence to spend
The year 2006 saw a rapid growth and expansion of the Singapore economy, together with an increasingly healthy labour market and rising wages. These all contributed to an increased exuberance on the part of consumers who have been more willing to part with their dollars, and retail sales – including those of home furnishings and housewares – have seen strong and continuing growth.
IKEA and Courts open their megastores
Home furnishings and housewares giants IKEA and Courts opened their megastores cum retail warehouse outlets in December 2006, which were their largest outlets in Singapore to date and marked their entry into the large-scale format retail domain. These megastores promise to generate higher sales and increased market share for these retailers.
Sophisticated consumers turning to housewares as a fashion statement
Increasingly sophisticated and trendy consumers are becoming more fashion conscious, and they are beginning to turn to housewares such as tableware, cutlery and glassware as fashion statements in their homes for their guests to enjoy and admire. This consumer group has generated increased demand for high-end and trendy housewares, and spurred new design trends in the housewares industry.
Residential mobility boosting demand for home furnishings
Consumers in Singapore have become more affluent and wealthier, and they have been upgrading their homes by moving to larger properties or even purchasing second homes. Together with the recent influx of expatriates setting up home in Singapore, all this has created much activity within the property market. This is good news for the home furnishings market, whose level of demand closely parallels that of the property market. As households move into new homes, they will also require a wide range of home furnishings products in order to furnish and decorate their new properties to their own taste.
Future prospects of home furnishings and housewares seem bright
The home furnishings and housewares market is expected to have bright prospects, and to experience significant growth over the period 2006–2011. This growth is expected to stem from a sustained growth in the economy and in consumer incomes as well as an increased propensity to spend; from an increasing appreciation of fine, high-quality home furnishings and housewares on the part of consumers; and finally from aggressive marketing and promotional efforts on the part of retailers as they offer credit facilities to lure consumers into making new purchases using their future income.
Table of contents
HOUSEWARES AND HOME FURNISHINGS IN SINGAPORE : MARKET INSIGHT
EXECUTIVE SUMMARY
Brighter economy gives consumers more confidence to spend
IKEA and Courts open their megastores
Sophisticated consumers turning to housewares as a fashion statement
Residential mobility boosting demand for home furnishings
Future prospects of home furnishings and housewares seem bright
KEY TRENDS AND DEVELOPMENTS
Economic recovery spurs an increase in consumer confidence and retail sales
Theme-based interior design a boon for housewares and home furnishings
Housewares as a fashion product boosting demand
Increasing residential mobility stimulates demand
Specialist retailers remain the distribution channel of choice
MARKET DATA
Table 1 Sales of Housewares and Home Furnishings by Sector: Value 2001-2006
Table 2 Sales of Housewares and Home Furnishings by Sector: % Value Growth 2001-2006
Table 3 Housewares and Home Furnishings Company Shares 2004-2006
Table 4 Housewares and Home Furnishings Brand Shares 2004-2006
Table 5 Sales of Housewares and Home Furnishings by Distribution Format: % Analysis 2001-2006
Table 6 Forecast Sales of Housewares and Home Furnishings by Sector: Value 2006-2011
Table 7 Forecast Sales of Housewares and Home Furnishings by Sector: % Value Growth 2006-2011
DEFINITIONS
Housewares
Home furnishings
Summary 1 Research Sources
LOCAL COMPANY PROFILES - SINGAPORE
COURTS SINGAPORE LTD - HOUSEWARES AND HOME FURNISHINGS - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 2 Courts Singapore Limited: Key Facts
Summary 3 Courts Singapore Limited: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
IKANO PTE LTD - HOUSEWARES AND HOME FURNISHINGS - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 4 Ikano Pte Ltd: Key Facts
Summary 5 Ikano Pte Ltd: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
Summary 6 Ikano Pte Ltd: Competitive Position 2006
LANDEX (S) PTE LTD - HOUSEWARES AND HOME FURNISHINGS - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 7 Landex Singapore Pte Ltd: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
PERTAMA MERCHANDISING PTE LTD - HOUSEWARES AND HOME FURNISHINGS - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 8 Pertama Merchandising Pte Ltd: Key Facts
Summary 9 Pertama Merchandising Pte Ltd: Operational Indicators
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
SIA HUAT PRIVATE LTD - HOUSEWARES AND HOME FURNISHINGS - SINGAPORE
STRATEGIC DIRECTION
KEY FACTS
Summary 10 Sia Huat Private Ltd: Key Facts
COMPANY BACKGROUND
PRODUCTION
COMPETITIVE POSITIONING
HOUSEWARES IN SINGAPORE
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 8 Sales of Housewares by Subsector: Value 2001-2006
Table 9 Sales of Housewares by Subsector: % Value Growth 2001-2006
Table 10 Sales of Housewares by Type 2001-2006
Table 11 Sales of Cookware by Type 2001-2006
Table 12 Sales of Kitchenware by Type 2001-2006
Table 13 Sales of Tableware and Crockery by Type 2001-2006
Table 14 Sales of Cutlery by Type 2001-2006
Table 15 Housewares Company Shares by Retail Value 2004-2006
Table 16 Housewares Brand Shares by Retail Value 2004-2006
Table 17 Sales of Housewares by Distribution Format: % Analysis 2001-2006
Table 18 Forecast Sales of Housewares by Subsector: Value 2006-2011
Table 19 Forecast Sales of Housewares by Subsector: % Value Growth 2006-2011
HOME FURNISHINGS IN SINGAPORE
HEADLINES
TRENDS
COMPETITIVE LANDSCAPE
PROSPECTS
SECTOR DATA
Table 20 Sales of Home Furnishings by Subsector: Value 2001-2006
Table 21 Sales of Home Furnishings by Subsector: % Value Growth 2001-2006
Table 22 Home Furnishings Company Shares by Retail Value 2004-2006
Table 23 Home Furnishings Brand Shares by Retail Value 2004-2006
Table 24 Sales of Home Furnishings by Distribution Format: % Analysis 2001-2006
Table 25 Forecast Sales of Home Furnishings by Subsector: Value 2006-2011
Table 26 Forecast Sales of Home Furnishings by Subsector: % Value Growth 2006-2011