Although the recently sluggish Singapore economy has been a cause for concern for other retailers, furniture retailers seem to have been relatively unaffected. While value sales declined within furniture in 2018, retailers are still quite optimistic about the years to come because of generally positive consumer sentiment regarding home-related products.
Furniture retailers in Singapore are on a mission to increase their visibility and are thus taking many initiatives to incorporate better product ranges and develop omnichannel strategies. These include the stocking of prestigious labels and designer brands in stores, expanding store presence by taking advantage of soft retail rent fees, emphasising visual displays and providing a great in-store experience.
The reason why furniture retailers in Singapore continue to invest so much in physical stores is the fact that they are confident that consumers want to physically see and test products in this area. As a result, fears over online competition are relatively limited.
Thai homeware and furniture brands are slowly penetrating Singapore with their trendy, reasonably priced, and contemporary yet modern designs. This can be attributed to the growing desire shown by Singaporean consumers when they see Thai labels at furniture fairs or online.
Home Fix is stepping up its game in home improvement and gardening amid the lacklustre physical store landscape in Singapore. Home Fix has recently expanded its offerings to provide two unique value propositions: Do-It-For-You (DIFY) and Do-It-With-You services, with the company seeing little value in expanding outlet coverage any further.
Courts Asia remains the frontrunner among homeware and home furnishing stores in Singapore and is expected to remain so due to its five-pronged strategy of providing an enhanced customer experience. This includes the revamping of stores into experience centres, ensuring furniture satisfies pressing home needs, growing sales of product category solutions to cater to modern Singaporean apartment-dwellers, further capitalising the value proposition in credit services and, most importantly, pushing the omnichannel strategy vigorously.
You have no recently viewed reports.
Why not browse through our Featured or Trending Reports to see what we have to offer?
Discover the latest market trends and uncover sources of future market growth for the Home and Garden Specialist Retailers industry in Singapore with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Home and Garden Specialist Retailers industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.
The Home and Garden Specialist Retailers in Singapore market research report includes:
Our market research reports answer questions such as:
Why buy this report?
This industry report originates from Passport, our Retailing market research database.