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After the poor performance of the domestic furniture industry in
1999, both manufacturers and retailers were hoping for positive results in
2000. In fact, quarterly sales were ahead throughout 2000 on a year on year
basis, although the quarterly data showed a gradual slowing in growth throughout
the year. Sales followed a similar pattern in 2001, with sales growth being
achieved in each quarter and an overall increase in sales of around £260m (at
MSP), compared with a £160m increase in 2000. The research findings suggest
that total sales increased by almost 5% (or £210m) in 2002, with producer prices
being fairly static or even declining within certain sectors, whilst sales in
2003 are estimated to have grown by 4.1% (or £190m in value terms). The latest
findings indicate that sales increased by 3.0% in 2004 (or £145m in value
terms), before declining by 2.6% in 2005, the first fall in the market for many
years.
Total sales of domestic furniture reached £4865m in 2005,
compared to £4995m in 2004 and £4850m in 2003. Total industry sales declined
by 2.6% in 2005, with producer prices increasing by around 1-2% during the year.
Total sales of upholstered furniture reached £1570m in 2005,
compared to £1650m in 2004 and £1595 in 2003; this product group currently
accounts for 32% of the total domestic furniture market. In real terms sales
have increased by 29% since 1995, compared to an increase of 47% in absolute
terms.
Total sales of leather upholstery are estimated to have reached
£855m in 2005, compared £895m in 2004 and £830m in 2003. This product group
accounted for 54% of the total upholstery market in value terms in 2005.
In volume terms sales of leather suites are estimated to
have reached 677,000 units in 2005, compared to 720,000 units in 2004 and
668,000 units in 2003. It is estimated that leather suites currently account
for 46% of the upholstered suite market in volume terms, compared to 41% in
2003.
Imports of leather upholstery are estimated to account for well
over 80% of total upholstery imports at the present time and reached £543.6m in
2005, compared to £452.4m in 2004. Imports account for 63.6% of the total
market for leather upholstery in value terms.
The research
findings indicate that sales of leather upholstery will reach £880m in 2006 and
£925m in 2007, compared with the estimated level of £855m reached in 2005.
Sales of leather suites are forecast to total 687,000 units in 2006 and 708,000
units in 2007, compared with the level of 677,000 units reached in 2005.
Business and
Research Associates' “The UK
Market for Leather Upholstery – UK 2006” report is available in hard copy or
electronic format for £495 and can be ordered online at
www.amaresearch.co.uk
or by calling 0871 3103450.
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