Home Furnishings in South Korea: New research report available at Fast Market Research

From: Fast Market Research, Inc.
Published: Wed Dec 03 2014

In 2013, South Korean home furnishings grew by 3% to reach KRW4.2 trillion. Energy saving has already become a national issue and a major concern for South Koreans, with frequent and an increasing amount of shutdown time in 2013 at the nuclear energy plant, which supplies around 26% of the country’s electricity supply. At governmental level, a campaign was launched to warn consumers against using electricity excessively in businesses and households, in order to prevent black-outs.

Competitive Landscape

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.

Full Report Details at
- http://www.fastmr.com/prod/902856_home_furnishings_in_south_korea.aspx?afid=302

Industry Prospects

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 Research

Analyse 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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