ABOUT FUTURE MARKET TRENDS
2022 cannot be called an easy year for the Russian furniture market. In a completely new reality, with its own challenges and prospects, the next year will also pass. Consider the possible development of the Russian furniture market in 2023
In 2022, the furniture market in Russia faced a number of serious challenges and fundamental changes. Large foreign retailers left the domestic market, among them the Swedish giant IKEA, whose departure is still echoing throughout the industry. Established logistics chains were broken, direct deliveries of fittings and components from Western countries were stopped. As a matter of urgency, furniture enterprises began to reorient themselves to other suppliers. In particular, from Turkey and China.
By now, the market has almost stabilized. Despite the decline in furniture retail sales from month to month, the current situation is perceived by businesses as a time for action. Russian furniture manufacturers have been given the opportunity to replace imports of brands that have left the country, occupy their niches and increase supplies to the domestic market. Under such conditions, it is already possible to make cautious forecasts for the future. In this regard, we will analyze the main trends that can be expected on the Russian furniture market in 2023.
2023: future furniture market trends
Orientation to customer needs.
Competition in the market remains quite strong. Even more actively than before, manufacturers will look for ways to meet the wishes of their consumers. In particular, in matters of design and compactness of furniture, its thoughtfulness.
It is possible that the segment of small-sized pieces of furniture will receive an impetus for development - they solve the problem of retaining a client after his first major purchase.
Finding a balance between price and quality.
In 2022, consumers spent less money on furniture – a subject of pent-up demand. Many have chosen the tactics of waiting and saving in the face of uncertainty. The furniture industry will be forced to adapt to such demand. One of the likely scenarios for the development of the industry is the revision of the pricing policy and the expansion of the line of low-budget goods.
In this part, furniture manufacturers will face a serious task - to reduce the cost of products, while maintaining its quality as much as possible.
More dense interaction with developers.
Active cooperation of furniture manufacturers and developers seems logical in 2023. Developers like many others, collided this year with a fall in demand for their products and services.
For this reason, developers will probably begin to look for new formats of interaction with the furniture industry. For example, the delivery of ready -made solutions, namely completely furnished new buildings in the format “Arrive and Live”. Statistics show that by 2022 year, interest in this format increased to 62% from 10% in 2018. It is also possible to expand personalized options for basic furniture of residential premises.
The choice between creative and versatility.
In a situation of “rebuilding” competitors from each other, which included the industry in 2022, there are two ways of further movement. The first is the emphasis on design and uniqueness in order to adapt as much as possible to the tastes and wishes of private customers.
The second is opposite in meaning. Probably, some furniture manufacturers will begin to strive for the universality of their products, combining such qualities as simplicity and multifunctionality. That is, to what served as a distinctive feature of a number of European companies, while they were present in the Russian market.
Sources: Delovoymir.biz, Forestcomplex.ru, Incrussia.ru, Stroygaz.ru