With every economic crisis, there tends to be some winners among the many losers, and with the coronavirus pandemic being so unique in nature, there have been some unique winners to come with it.
One of the major beneficiaries of 2020 was the furniture industry – more specifically domestic furniture businesses. With “unprecedented times” having created unprecedented sales for many British sofa manufacturers, here’s a look at why 2020 was a great year for those keeping us cosy.
A change in lifestyle and buying habits
Once the initial job-related panic amid lockdown subsided and the average UK consumer started to find themselves with a little more additional income, some parts of UK retail had chance to recover. Of course, with lockdown literally locking us down in our home, domestic retail spending found itself much more firmly focused on the home than before.
Through 9th-15th March 2020, online sales of home improvement and gardening retail products grew almost by 50% compared to the same period the year previous. By the end of the year, spending at household goods stores was up 15% month to month on 2019.
This palpable increase of interest in home purchases set the platform for a great year for British furniture makers.
Life is comfortable for British manufacturers
In terms of the UK furniture manufacturers that have enjoyed the fruits of heightened consumer interest, life has never been better. “It’s crazy good”, in fact – as per a Guardian article detailing the success of domestic manufacturers such as Long Eaton Sofas – who had to close off their Christmas order book early due to excess demand – and Belfield, the country’s single biggest upholstery company, who had a year that began in a complete furlough of its 2,000 staff and ended in maxed out sales.
The success of the industry has been top to bottom. At the top of the pile, DFS had to hire 300 additional manufacturing and distribution staff to cope with demand, while John Lewis has seen sales surge in its furniture department. Across the country, coronavirus redirected spending to the furniture industry. As Peter Campbell, Finance Director of Long Eaton put it: “People have not been able to go on holiday this year, so that’s £2,000 or £3,000 they’ve maybe not spent. That’s now going on furniture.”
Where furniture sales have increased, there’s also been a boost for associated industries. Thanks to a rise in home DIY projects and new hobbies, it’s not just furniture in demand, with people investing in tools, brooms and workwear to get the best out of their projects.
2020 won’t go down as a good year for many, far from it in fact, but it’s encouraging to know that some businesses at least were not burdened by the pandemic, instead flourishing in it. For the furniture industry in particular, the success enjoyed in the back end of the year will have offered a platform to a prosperous 2021 – and hopefully the rest of retail and commerce has a chance to catch up.