COMMENT AND OPINION | Simon Bodsworth
BODSWORTH OPINION
SIMON
With the impact of Covid-19 on the bedroom furniture market, the managing director of Daval highlights the important role independent retailers play in the sector
Wake up to bedrooms G
Bedroom Furniture Market Report – UK 2020-2024 [
kbbreview.com, October 21], which states the market will show a significant fall in 2020. Yet, we have just seen a 10% rise in bedroom sales compared with the same period last year.
Naturally, 2020 sales figures will experience a level of decline following the ongoing health crisis. However, this downturn in bedroom furniture is relevant in the mass-market world of ‘stock it high and sell it cheap’. As a result, standard off-the-shelf furniture has all but disappeared as Covid-19 creates financial hardship for those customers who ordinarily look for convenience goods over the kind of speciality products sold by you, the retail specialist.
I feel protective of the bedroom
market as it remains an area of the industry that lacks retail confidence
The same level of decline does not seem to be affecting mid to high-end retail specialists, where market recovery is crucially proving much more stable. Representing 28% of all furniture sales reported, the largest sales channel for the bedroom market right now, need-based customers have anchored the independent retail specialist as a vital resource for fitted bedroom furniture. This has stemmed from a range of factors, with one being the absence of an annual holiday due to current events. As a result, this allocation of funds is now being put towards general home improvements, which during lockdown has become more evident and compelling to the consumer. If you consider the average cost of a holiday compared with how much it may cost to renovate the kitchen, bathroom or bedroom, then it’s the bedroom that is winning out on value and becoming the preferred choice of project, which our 2020 bedroom sales substantiate.
iven the level of uncertainty right now, I feel it’s necessary to stress the value of the independent retail specialist so that, as an industry, we can reshape current opinion and highlight the fundamental areas of growth currently being underplayed. I’d like therefore to offer my thoughts on The Domestic
That, coupled with the Government’s stamp duty holiday, has helped fund this surge of home improvement and now, more than ever, is a retail area that requires a large share of investment and special retail attention. It is also worth remembering you can get up to four bedrooms in a typical family home compared with just one kitchen, so you can see there is huge opportunity for greater margins and repeat sales from returning, loyal customers. To maintain and grow this niche market, we make to order so that your customers can affordably personalise furniture by design and functionality. We also ensure our furniture is made-to-measure, which maximises storage and creates new design opportunities for both home- owner and retailer alike. Even though the report states we’re only expected to see solid growth in the next few years, we have shown steady growth year on year and 2020 has been no different. I believe this is a direct result of supplying the independent market for over 40 years with a highly- commercial retail package and I believe, it is this level of diversification that has allowed our UK retail network to remain competitive and adapt.
Buying habits The report also alluded to the fact that coronavirus has changed consumer buying habits,
resulting in guest
bedrooms being sacrificed and converted into home offices. However, in our experience, this has not been the case. Profitability is not just reserved for retailers who have moved into selling home offices and studies, as bedroom furniture is inherently flexible and able to integrate into other rooms, while changing its purpose – for instance, if properly designed, a well-considered dressing table could be a desk of sorts. As an independent retailer, you need to be able to
serve real needs, which is why I feel so protective of the bedroom market, as it remains an area in the KBB industry that lacks retail confidence. It is vital to remember that, as a specialist, you are able
to offer a unique design service – something that is becoming increasingly appealing to the discerning homeowner who, right now, is financially secure and willing to invest.
It is also important to recognise that today’s trends
centre around individualism and eclectic interiors, meaning we should assume nothing when reaching out to our target customers, rather than thinking that people might want a certain style of furniture based on their age or other socio-economic factors. By opening up your retail space to a new set of interior
design concepts, like the bedroom, home study, media and dining rooms, you will ensure your business becomes a complete interiors solution for the end user while maintaining consistent product quality.
22 · December 2020
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