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The furniture retailing industry continued to be impacted by the challenging economic environment in 2019, accompanied by rising unemployment, low disposable incomes and rising debt. With consumer confidence being low and unemployment being high, households looked to restrict non-essential spending, by replacing furniture products with cheaper options.
In 2019, South Africa saw increased migration across provinces. Most of those migrating were younger people, who found residence in apartments.
Convincing consumers to move over to LED bulbs might have proved difficult before the start of the review period, but consumers in 2019 have come to realise that these formats benefit not only their budgets but also the environment over the long run. This led to LED lamps recording the highest growth in 2019.
Mr Price Group Ltd continued to lead the landscape in 2019, as its product offerings enjoyed mass appeal, with the player actively introducing product offerings based on seasonal trends and consumer preferences. The company also introduces these offerings at such competitive prices, that consumers often buy a higher volume of goods than they had planned to.
Increasing price sensitivity is leading to the penetration and entry of affordable and cheaper retailers. As a result, traditional furniture retailers are experiencing increasing competition from non-traditional furniture players that are offering contemporary and modern furniture.
Barbequing remained a popular activity throughout 2019 for many South Africans. The area of barbequing continued to evolve as smaller players broaden their products’ availability.
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Overview: Discover the latest market trends and uncover sources of future market growth for the Home Furnishings industry in South Africa 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.
The Home Furnishings in South Africa market research report includes:
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This industry report originates from Passport, our Passport market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.