Ikano Corp led home furnishings with a 7% share of value sales in 2013. IKEA continued to be the brand of choice due to the variety, quality and competitive prices offered. Malaysians are becoming more modern in their thinking and consider IKEA designs to be much more stylised and conceptual. It is also more cost effective to beautify their homes with its range of products available.
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With the slow economic climate, high property prices and rising living costs in Malaysia, home furnishings will continue to decline by a CAGR of 1% in value sales at constant 2013 prices over the forecast period. Usually, the purchase of home furnishings is stronger when people start a new home. However, consumers are struggling to even own their own homes as property prices continue to shoot up, meaning many will choose not to invest in brand new or non-essential home furnishings.
Home Furnishing Market ResearchAnalyse key trends and developments in Malaysia for all product categories, competitors and channels.
Evaluate the market position and financial performance of the leading national and international market players.
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