Homewares registered slightly faster current value growth in 2020 than in the review period. Homewares benefitted from the longer periods of time consumers spent in their homes as a result of COVID-19 lockdown.
Through social media, influencers continued to be one of the main means of communication and promotion for homewares brands. In 2020, the kitchen gained an important role in peoples’ lives as a lot of consumers began to cook more at home due to the mandatory confinement.
Homewares’ online sales grew in 2020, driven by the closure of store-based retailers for several months. In this way, websites became the only ‘open’ stores in 2020.
Homewares is expected to enjoy stronger current value growth in 2021, before normalising and gradually slowing over the forecast period. The local economic situation may inhibit performance in the forecast period, as a drop in purchasing power is likely.
The anticipated lacklustre economic situation will provide opportunities for cheaper or private label brands in the forecast period. It is expected that consumers will continue to prioritise prices over quality and seek opportunities such as offers or promotions offered by retailers.
Online channels will continue to strengthen during the forecast period. Companies will continue to adapt to new consumer realities through their own e-commerce platforms or through third party sites, such as MercadoLibre.
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Understand the latest market trends and future growth opportunities for the Homewares industry in Argentina 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 Homewares research and analysis database.
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