In the UK, there are plenty of competing companies providing consumers with the right furniture and fixture for their bathrooms and other areas in the house. Among the top contenders in the industry is Bathrooms and More Store. Recently, FIRA disclosed a statistical report that provided a summary of how the overall UK furniture industry is doing. Relevant data coming from different government bodies were used in completing this report.
The key findings of the report published by FIRA are as follows:
National trend for the UK economy
– There was a notable increase in the total unsecured lending from the year 2012 to 2013. This value however, remains to be lower than the figure last September 2008. The latest data revealed that the increasing trend in lending continued last year where it reached 222 billion pounds.
– There was a significant increase in the values and numbers when it comes to property transactions that are worth more than 40,000 pounds from 2012 to 2013. The numbers and values significantly increased by 15 percent and 17 percent respectively while the total transaction market is deemed to be at 340 billion pounds in the year 2013.
– In the years 2010 to 2013, there was an increase in consumer spending by about 3 percent. The highest growth was reported to be in the industry of footwear and clothing which increased by almost 12.6 percent.
Trend in the furniture industry
– The total turnover in the manufacture of furniture in the year 2013 was over 7 billion pounds. This figure is similar to that in 2010 and is significantly higher by 6.7 percent compared to 2012. This amount is an excellent recovery from the years 2011 and 2012 when the turnovers were just 6.4 billion and 6.5 billion pounds respectively.
– The subsectors of mattress, kitchen and office and shop all made great contributions to the rise in the turnover from 2012 to 2013. Other furniture items experienced only a small decrease in turnover within the period. Experts point out that among the subsectors; mattress is the one to be doing very well.
– The total furniture manufacturing for UK in 2013 is equal to 1.3 percent of the total turnover in manufacturing for the country.