The German furniture industry experienced a 6.6% decline in sales in 2024, bringing total revenue to €20.7 billion. This follows a downturn in 2023, with all product categories recording losses. Kitchen furniture, traditionally the strongest segment, suffered a particularly sharp decline of -7.2%.
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The latest "Furniture Industry Report" by IFH Cologne and BBE Handelsberatung highlights that, since 2019, only small furniture, upholstered furniture, and kitchen furniture had shown growth. However, the ongoing consumer crisis has halted this trend, leading to widespread declines across the sector.
Dr. Philipp Hoog, head of strategy consulting at BBE Handelsberatung, stated that 'the furniture retail industry is caught between pressure to innovate and the need to cut costs'. He emphasised the importance of flexible business models that integrate physical retail with digital capabilities.
Despite the recent downturn, market analysts predict stabilisation in 2025. Improved economic conditions could lead to slight recovery, with sales forecast at €20.6 billion for the year. By 2029, projections indicate potential growth to €21.8 billion.
Source: www.moebelmarkt.de