Home Furnishings in Malaysia - New Report Available

From: Fast Market Research, Inc.
Published: Fri Oct 09 2015

Home furnishings recorded negligible value growth in 2013 reaching MYR5,374 million. With the slow economic conditions and high property prices in Malaysia, consumers continue to shy away from spending on home furnishings. Many are struggling to comfortably afford a home of their own and therefore try to minimise cost by being more conservative when it comes to purchasing furnishings for their home. Consumers also tend to reuse their old furnishings when they move to a new home as it is not a necessity to remodel or redesign their homes during slow economic times.

Competitive Landscape

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.

Industry Prospects

Full Report Details at
- http://www.fastmr.com/prod/1056241_home_furnishings_malaysia.aspx?afid=302

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 Research

Analyse 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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You may also be interested in these related reports:

- Home Furnishings in China
- Home Furnishings in Turkey
- Home Furnishings in the Netherlands
- Home Furnishings in Hong Kong, China
- Home Furnishings in Thailand

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
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Contact Phone: 1-413-485-7001

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