Hanssem leads home furnishings, with an 11% retail value share. Compared to the second-placed company, ACE Bed Co Ltd, Hanssem Co has a seven percentage point lead in retail value in 2013. In 2013, Hanssem Co diversified its retail channels to offer consumer-oriented services, with five flagship stores selling all kinds of home furnishing, homewares, and also offering a home improvement service. The company also owns 27 large-scale partnership shops nationally, which service major cities in the suburbs and regions. Hanssem Co has also strengthened its homeshopping channel, strategically introducing various home furnishings, from indoor furniture to home textiles, with great success.
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Home furnishings is expected to see marginal growth at constant 2013 prices, related to housing trends in South Korea. Owning a home is becoming less common as prices are too expensive, while there are also genuine concerns over the bursting of the real estate market bubble. Instead, people are now usually renting long-term. In this situation, consumers are less likely to invest much on home furnishings, and will look for economy or standard value products.
Home Furnishing Market ResearchAnalyse key trends and developments in South Korea 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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