An affinity for 'experiential shopping', an increase in second-hand purchases, and other interesting finds have been revealed by a 'Europeans and furniture' study conducted by IPEA in collaboration with CODIFAB provides insights into the preferences of consumers within a broader European context, highlighting several pivotal trends shaping the furniture market.
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Generational divide
One of the most striking observations is the generational divide between older consumers and Generation Z. The younger demographic, characterised by their emphasis on connectivity, brand affinity, and experiential shopping, is reshaping the furniture sector. This shift has prompted a focus on omnichannel strategies, corporate social responsibility (CSR), and enhanced service offerings, alongside traditional considerations of style and price.
E-commerce vs physical stores
Ikea emerges as a dominant force in Europe's furniture landscape, particularly in France, where it commands significant market share, overshadowing competitors like But and Conforama. Additionally, Amazon has entrenched itself as a key player, especially appealing to Generation Z due to its convenience and swift delivery of smaller furniture items.
Despite the surge in e-commerce, physical stores remain pivotal. The study reveals that while online shopping has grown, a majority of consumers still prefer the tactile experience of visiting brick-and-mortar stores.
A notable trend identified is the rising popularity of configurators among consumers. These tools allow shoppers to visualise furniture within their living spaces before making a purchase, particularly for items in the living room and bedroom categories.
Second-hand market
The second-hand furniture market has also experienced significant growth. Furthermore, the study indicates that environmental and social responsibility ranks low as a decisive factor in furniture purchases across Europe. Consumers prioritise price and quality over ecological considerations, signalling a need for brands to improve communication and transparency regarding their CSR initiatives.
Source: www.univers-habitat.eu