CSIL FINDINGS: A FOCUS ON FURNITURE CONSUMPTION

CSIL FINDINGS: A FOCUS ON FURNITURE CONSUMPTION This year, CSIL focussed the attention on the furniture demand side, and did an analysis on both the macro trends on a global scale and the opportunities at city levels. Some key figures of the global furniture market, which according to CSIL estimates, was worth almost US$440 billion, at producer prices, doubling the value in the last decade. This has clearly indicated that even if it slowed down during the crisis, it has still been growing year after year. Besides, all the main demand drivers registered a positive trend with urban population, income availability and investment in construction increasing at a global level and all these factors contributed as a driver for furniture purchasing. However, they also impacted differently furniture consumption in mature and fast growing/emerging markets. Even if consumers in high income countries spent on average five times more than consumers in middle and low income countries for furniture purchases, growth rates in the latter area have been very high. As a consequence, the geography of consumption changed considerably and interactions between the two areas also increased. As illustrated by Jessica Catalano, CSIL International Market Research, the CSIL new research “150 Smart & Fast Cities: Forecasting Furniture Demand to 2020” was presented. The 150 cities included in the study reported are home to over 10% of global population, contributed to one third of world GDP and forcaseted to generate a furniture demand worth US$ 161 to 2020. Some highlights were provided for Bangalore how much is cialis without insurance (India), Santiago (Chile), Montreal (Canada) and Tallin (Estonia), cities that were selected as fast (likely to grow at a rapid pace both in terms of population, economy and/or level of consumption) and smart (capable of enhancing city’s resources through efficient infrastructures, to improve the citizens’ quality of life, and able to create a favourable environment for business and for investment opportunities). João Araújo, from Brazilian Furniture project (Abimovel) focused on Sào Paulo, the main business hub in Latin America, home to over 60% of all international groups located in Brasil. The city is reported to offer a lot of opportunities in the contract segment and is a key consumption pole for companies wishing to enter the Brazilian furniture market. Linda Tu, from is viagra covered by insurance CNFA (China National Furniture Association) provided an overview of the opportunities in the Chinese market, the first furniture market in the world in terms of total furniture consumption. Among the factors influencing the sector, she reminded energy saving and environmental protection, as well as a better use of raw materials, information and automation technology and the increasing importance of standardisation. Also, as an export oriented country, she stressed the importance for China of the “new markets”, where growth has been fast (India, Brazil, Russia, Gulf area). Germany’s performance was online canadian pharmacy illustrated by Alexander Oswald from HDH (Confederation of German Woodworking and Furniture Industry). The situation of the country was not particularly good last year, which recorded a best online cialis pharmacy reviews decrease in the German furniture turnover (-3.7%) and in the number of sector companies (-0.5%). Nonetheless, Germany remains a leading furniture producer (over 16 billion Euro turnover), but exports are forecasted to slightly decrease whereas imports will be increasing in 2014. Competition within the EU (e.g. from Poland) and from outside the EU (e.g. China) are key issues. It was also highlighted that performance varies in the different segments, with a positive trend particularly in the kitchen sector. Roberto Gramaccioni, from Scavolini, Italian leading kitchen furniture manufacturer, illustrated the approach from the company’s point of view. Scavolini developed from a small company into one of the most important manufacturing companies in Central Italy, with a straight approach to internationalisation. Today the company can count on over 300 sales points throughout the world (25 new showrooms opened in 2013). Some examples from Melbourne, New York and Moscow were presented to explain the company’s strategy in approaching the international market. Certainly Russia is a large market, as presented by Polina Dubrovina from Restec Exhibition. However, among the market trends, she spoke about the increase in completion with the decline in local production and the growth in imports especially from Asia, with a reduction in import prices. On the other side, a positive signal is reported as coming from a better trend in the construction market (the State Construction Committee has a task free internet sex webcams of increasing 142 Million sq ft of residential space by 2020) as a driver for furniture consumption and the positive effects on imports flows, due to the reduction of protective duties after Russia’s WTO entrance (2012). The current trends in Sweden, another large furniture exporter and manufacturer, were summarised by Cecilia Ask Engstrom from TMF (Association of Swedish Furniture Manufacturers). The popularity of the country is also due to the IKEA success (company’s turnover for 2013 was 27,9 billion Euro) but the productive system was actually attributed from lots of SMEs companies, with a strong concentration of the furniture industry in the southern part of the country, in Småland. One reason for this concentration was that this region had good access to forest and water (it is also in this region where IKEA was founded). The Swedish furniture industry has grown by 24% in the last ten years. Sweden is one of the only three Western European countries that could increase both manufacturing output in the last decade, and its share of overall production in the EU. Recovery process after the crisis was faster in Sweden, than in many other EU countries. Turkey is a dynamic exporter, as illustrated by the figures presented

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by Abdullah Tuglu, from Mosder (Association of Turkish Furniture manufacturers), with the motto “CREATING A TURKISH FURNITURE STYLE”. Today over 2 billion US$ exports are directed mainly to Iraq, Libya, Germany, Azerbaijan and France. Brands promotion and clustering activity are sector priorities in fostering the development of the furniture sector. A video contribution from Jerry Epperson closed the seminar. After a disappointing 2013 (+1.4% of growth in the domestic market), there are positive signals and “big hopes” for 2014 (+5.8%). Among the main drivers quoted by Epperson: the building activity recovery (due to underbuilding from the 2008-2012 period and also to a shortage of small homes), increases in income availability, future demand by the “millennium generation” and the role of technology encouraging activities at home (banking, shopping, entertainment…), thus emphasising the role of staying at home and living in a comfortable well furnished environment. It is worth noting that the United States is the second largest furniture market in the world and over 65% of furniture consumed is imported.

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