In 2020, home furnishings saw a decline in current value growth due to consumers becoming more cautious on how they were spending their money given the uncertainty of the pandemic. Although Swiss consumers spent more time at home in 2020, which drove sales of home furnishings in other countries, Swiss consumers opted to save money and postpone big ticket purchases.
While most home furnishings offerings posted declining rates of current value growth in 2020, there were notable exceptions. For instance, light-emitting diode lamps (LED) posted a faster rate of current value growth in 2020 than in 2019, benefitting from higher usage as more consumers were working from home or spending more time in the home realm in general.
Home textiles also suffered in the face of the pandemic in 2020, posting declining current value sales. On one hand, less gatherings at home led consumers to postpone the replacement of living room and bath textiles (among other home textiles).
Home furnishings is set to return to a minimally positive rate of current value growth in 2021, before slightly strengthening and maintaining a positive but slow rate of growth throughout the remainder of the forecast period. Indeed, demand is expected to normalize slowly in 2021 as borders and stores being to reopen.
After the sales boom seen in 2020, outdoor furniture is expected to decline in current value terms in 2021 as demand normalises. However, for the remainder of the forecast period, outdoor furniture is set to continue its growing trend that started in 2018.
Home textiles is set to continue declining in current value terms throughout the entire forecast period. Especially given the pandemic, consumers will continue being cautious on what they spend on in the forecast period.
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Understand the latest market trends and future growth opportunities for the Home Furnishings industry in Switzerland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Home Furnishings research and analysis database.
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