Christophe Gazel, general director of IPEA – Institut de la Maison, shared insights into the French furniture market during EspritMeuble 2024. Despite a challenging economic backdrop, including a 20% decline in real estate transactions, the furniture sector has only dropped by approximately 6%, showing notable resilience. Gazel noted that 'purchasing power is a strain for the consumer,' yet the sector's performance suggests adaptability amid the downturn.
Photo: Ipea.
Teleworking has positively influenced the market, as many French households, having spent more time at home during the Covid-19 pandemic, have prioritised functional and adaptable home spaces. This shift has led to increased interest in workspaces that can be closed off and ergonomic furniture, promoting a trend towards higher-quality, practical solutions.
Gazel highlighted a significant transformation in how consumers approach home design, with a focus on utilising space efficiently rather than measuring in square metres. 3D configurators are playing a pivotal role, allowing consumers to plan their spaces from the comfort of their homes.
The second-hand furniture market has also become prominent, with 25% of furniture purchases in France being second-hand, half sourced from mass-market retailers. This trend is particularly popular among Generation Z, who favour sustainability but are also driven by cost-effective solutions. Gazel pointed out that the main challenge with second-hand furniture is transportation costs, emphasising the need for brands to highlight their efforts in making products sustainable and multi-functional.
In terms of sustainable development, Gazel observed a gap between consumer aspirations and purchasing behaviours, noting that ecological criteria are secondary to price considerations. Gen Z, while expressing environmentally responsible attitudes, often opts for platforms like Vinted, which, while supporting reuse, come with an ecological impact due to transport.
Looking ahead to 2025, Gazel expressed concerns about the market's outlook, citing the continued stagnation in real estate as a potential barrier to growth. However, he remained optimistic about the long-term effects of Covid, which had prompted many to reconfigure their living spaces. Gazel advised that while products and pricing remain vital, brands will need to engage consumers with compelling narratives and strong messaging. He acknowledged that most brands and retailers have already recognised this shift, as seen in the well-designed displays at EspritMeuble 2024.
Source: www.univers-habitat.eu