Homewares in Sweden

PROSPECTS

Focus on the home continues, but sustainability adds value

While a focus on the home and home cooking are key sales drivers in homewares, sustainability and environmental concerns are increasingly important factors in consumers’ purchasing decisions. Swedes are at the forefront of the global movement for conservation and sustainable lifestyles.

Store-based retailers face strong challenges

Store-based retailers face an increasingly challenging business environment in homewares. The number and frequency of visits to physical stores is in decline, with more consumers shifting to internet retailing.

Economic threats may curtail spending

Low unemployment and steady economic growth have contributed to an increase in household disposable incomes, while a climate of low interest rates has incentivised greater household spending. However, flagged interest rate hikes and building economic threats due to concerns over potential trade wars may force households to curtail spending on discretionary items.

COMPETITIVE LANDSCAPE

Ongoing migration of apparel and footwear specialist retailers

Apparel and footwear specialist retailers continued to migrate into homewares in 2018. H&M Home’s operation is expanding via store openings and online development.

IKEA retains a clear lead

IKEA remains the clear leading brand in homewares. No competitor can match the depth, range and variety of its product offer.

IKEA responds to a challenging competitive environment

Ikea has responded to the changing competitive environment with the launch of IKEA Kök, a smaller, inner-city outlet focused on the sale of kitchen-related products. This move was supplemented by an IKEA Kök tour in late 2018, which featured a pop-up store that visited the centres of selected Swedish cities over 10 weeks.

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