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All-Russian Furniture Summit encompasses market trends
The All-Russian Furniture Summit was held May 13-15 in Moscow and featured active discussions on tendencies of European and Russian markets, as well as Asian and US market trends.
Germany successfully maintains its position of a prominent player in the furniture market. In 2013 sales in this country exceeded €30 billion. At the All-Russian Furniture Summit in Moscow Helmut Merkel, CEO of CRP Consulting Ritthammer & Partners GdbR and Chief Editor of Möbelmarkt magazine, spoke on the furniture market trends in Europe and Germany in particular.
The expert called Germany ‘an island of luck’ for its ability to maintain leading position in terms of economic crisis. During that period consumption level didn’t fell and remained the highest in Europe: annually Germans spend €380 on furniture and home decoration items.
Following the results of 2013, the GDP growth is 1.7% in Germany. “It is no doubt that the economic crisis has had a significant impact on the furniture industry in Europe: in Italy market volume dropped 7%, in Spain – 60%. European citizens are still not ready to buy durable goods but the situation is now improving,” indicated Helmut Merkel.
Nearly 8 thousand companies in Germany specialise in sales of furniture and home decoration items. “The number of companies is falling, given that only a few of them can compete with large corporations owning shopping centres with total area 74 thousand sq.m,” said Helmut Merkel. “Among other things, we witness growth of online sales share in the German market. In 2013 the turnover of online sales reached 1.2 billion.”
The expert mentioned that the furniture market trends in Germany remained unchanged. The increasing number of German consumers buys upholstered furniture and prefers eco-friendly materials, such as an oak. More consumers are looking forward to adapt and apply ‘green’ technologies.
FURNITURE SUMMIT (2014)