The French furniture market has seen a notable decline in sales during February, marking the third consecutive year of downturn for this month. According to the latest economic indicator from the IPEA (Institute for Prospective and Furniture Studies), the French domestic furniture market's value fell by 8.6% compared to February 2024. This represents the most significant drop since July 2024, when sales decreased by 9.2%.
The institute highlights that no segment or distribution channel managed to stand out, with even kitchen and bedding specialists experiencing declines, contrary to previous months. The IPEA noted that the lack of major promotional events in February, unlike the previous months of Black Friday, private sales, and winter sales, contributed to the weak performance.
The institute also reported that, over the first two months of 2025, the market's value fell by 4.8%, a decline similar to the start of 2024. Last year, the first quarter saw a 5.8% drop, with March recording an 8% decrease. IPEA expressed hope that March 2025 might see a less severe decline, despite early indications suggesting reduced customer attendance.
The IPEA suggested that moving winter sales to February could potentially boost sales and avoid the "traffic jam of promotions" from November to January. The institute also pointed out that the challenging economic environment, including political instability and increased savings by households, has dampened consumer spending.
Despite improved economic factors such as stabilised inflation and low unemployment, the French continue to prioritise savings, reflecting a cautious approach to spending amidst ongoing uncertainties.
Source: www.meuble-info.fr