Outdoor and Casual Furniture - in the United States by forrests

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Outdoor and Casual Furniture - in the United States
Description: Retail sales of casual and outdoor furniture will reach over $4.8 billion in 2005, thanks to strong home sales, home renovation and interest in outdoor living. Innovation in style, design, fabrics and materials has expanded the selection across all price points. However, competition from imports has limited profit margins for domestic manufacturers, and prompted many to shift production overseas or establish partnerships with Asian companies. In this report, we clearly identify the principal external factors driving or curtailing growth in the outdoor and casual furniture market. As a purchase related to the home, broader economic factors such as economic prosperity, home ownership and home sales are underlying drivers for casual furniture. Discretionary income, shifting demographics, trends in home improvement and the influx of cheaper imported furniture have all shaped the casual and outdoor furniture market. Exclusive consumer research reveals the attitudes, needs and behavior of outdoor and casual furniture consumers, with analysis broken down by demographic characteristics. Six years of specific sales data provides a factual and impartial presentation of the market as a whole. We also evaluate the performance of individual sectors in the market, both by material (metal, plastic, wicker, wood) and product type (seating, tables, umbrellas and other products). we also provide details of major companies and brands in the casual and outdoor furniture market. We use the SPSS forecasting package to create a five-year forecast of U.S. retail sales in the casual and outdoor furniture market, revealing potential opportunities for growth and product development. Continued sales growth will come largely from homeowners replacing old furniture or upgrading to more stylish products, especially in the process of renovating their home and outdoor living spaces. From 2006 to 2010, sales growth will be propelled by aging baby boomers, who will upgrade to higher-end products, and young, ethnically diverse homeowners, who will seek stylish, but inexpensive products. we predict moderate but steady through 2010. This report includes all furniture designed and marketed for outdoor use in the porch, patio, poolside or garden area of the home. It also includes furniture designed for beach going, camping and other recreational activities. Furniture may be made of metal, plastic, rattan-/wicker and wood and includes products such as seating products (chairs, love seats, settees, stools, ottomans, benches and lounge chairs), tables, cushions and umbrellas. The report includes only that furniture intended for consumer use. Not included are indoor furniture or furniture for commercial or institutional use. The market also excludes other home appliances and décor, including carpets, drapes, accents and built-ins. Electrical goods such as lamps as well as minor furnishings such as jewelry boxes are also excluded.

Contents:

Contents Introduction and Abbreviations Introduction Other relevant reports Definition Abbreviations and terms Abbreviations Terms Executive Summary Rise in home ownership drives sales Discretionary income peaks for Baby Boomers Average home size grows: Consumers need more furniture Stylish casual furniture is most popular Changing household profiles define consumer needs Imports reshape market for suppliers and retailers Casual furniture shows minimal growth, domestic manufactures' share falls

Metal casual furniture is the largest segment, wicker products show the strongest growth Supply structure is highly fragmented Advertising: Brand promotion and in-store marketing efforts Mass merchandisers dominate the retail market Consumer research findings Family-oriented demographic groups and home-related factors drive casual furniture consumption Mass merchandisers and home centers are dominant channels Attitudes towards furniture and furniture buying Renovation will continue to drive sales Younger, ethnically diverse consumers will seek stylish furniture Younger Baby Boomers drive growth for high-end furniture Imports affect future prices, quality and retailing of casual furniture Market Forecast Market Drivers Introduction Housing sales grow casual furniture market Figure 1: Sales of new and existing homes, 1994-2005 Lifestages and discretionary income Figure 2: Households with discretionary income, by age of householder, 2000 Larger homes and yard spaces create a need for more furniture Figure 3: Increases in home size, 1950-2000 Low interest rates spur home sales and home investment Figure 4: Share of refinancing homeowners spending money on home improvements, 2004 Growth of DIY programs and magazines Trend toward outdoor living, grilling and expansion of "outdoor rooms" Figure 5: Total U.S. sales of lawn and garden products and services, at current and constant prices, 2000-05 Demographic change and trends Figure 6: U.S. population, by generation, 2004 and 2010 Figure 7: Household income distribution, by age of head of household, 2003 Generation X Baby Boomers Changes in home ownership profile Figure 8: Incidence of home ownership, by age and race/ethnicity, 1993-2003 Market Size and Trends Retail sales Figure 9: Total U.S. retail sales of casual furniture, at current and constant prices, 2000-05 Figure 10: Total U.S. retail sales of all types of furniture, both indoor and outdoor, at current and constant prices, 2000-05 Manufacturer shipments Figure 11: Total U.S. manufacturer sales of casual furniture, at current and constant prices, 200005 Market Segmentation Introduction Casual furniture segmented by material Figure 12: Sales of casual furniture market, segmented by material, 2003 and 2005 Metal Plastic Wicker Wood Umbrellas Casual furniture segmented by product type Seating products Tables Other products Supply Structure Introduction Foreign trade Figure 13: Imports of household metal furniture, 2002 and 2004* Companies

Figure 14: Leading manufacturer sales of casual furniture in the U.S., 2004 Company profiles Brown Jordan International Inc. Agio Keter Group (Resin Partners, Inc./U.S. Leisure) Meadowcraft Incorporated Grossfillex Profiles: Medium-sized suppliers Ethan Allen Homecrest Industries Incorporated Tropitone Vassallo Industries (Syroco) Advertising and Promotion Advertising and marketing strategies Print advertising campaigns central to brand promotion Licensing Suppliers appeal to retailers and support their marketing efforts Retailers: National advertising and in-store marketing Figure 15: Advertising expenditures of mass merchandisers, home centers and furniture retailers with casual furniture offerings in the U.S., 2003 Advertising campaigns of selected suppliers Barlow Tyrie Brown Jordan Emu Gloster Laneventure Lloyd/Flanders Summer Classics Retail Distribution Introduction Figure 16: U.S. retail sales of casual furniture, by channel, 2002 and 2004 The expanding reach of mass merchandisers and home centers Figure 17: Total U.S. retail home channel sales, at current and constant prices, 2000-05 Mass merchandisers Figure 18: Top mass merchandiser operating statistics, latest fiscal year-end Wal-Mart Target Kmart and Sears Figure 20: Sears, by sales, financial years ending 2002 and 2003 Discount Warehouse Clubs BJ's Wholesale Costco SAM'S CLUB Home improvement centers Figure 21: Top home improvement centers' operating statistics, latest fiscal year-end Home Depot Lowe's Specialty furniture retailers National chains of specialty import stores Figure 22: Top six speciality furniutre stores, by sales, financial years ending 2003 and 2004 Pier 1 Imports IKEA Pottery Barn (Williams-Sonoma) Crate and Barrel The Bombay Company Cost Plus World Market Independently owned specialty casual furniture retailers and outdoor living retailers Conventional furniture stores Ethan Allen Other Channels The Consumer

Introduction Home ownership Figure 23: Home ownership, by key demographic variables, January-September 2004 Outdoor furniture purchased in preceding 24 months Figure 24: Purchased outdoor furniture in the last 24 months, by key demographics, August 2005 Figure 25: Purchased outdoor furniture in the last 24 months, by key demographics, August 2005 Where consumers are buying casual furniture Figure 26: Source of casual furniture purchased, August 2005 Figure 27: Source of casual furniture purchased, by gender, August 2005 Figure 28: Source of casual furniture purchased, by age, August 2005 Figure 29: Source of casual furniture purchased, by household income, August 2005 Figure 30: Source of casual furniture purchased, by marital status and children in household, August 2005 Figure 31: Source of casual furniture purchased, by region, August 2005 Figure 32: Source of casual furniture purchased, by type of area, August 2005 Motives and factors related to purchasing outdoor and casual furniture Figure 33: Motives for purchasing outdoor furniture, August 2005 Figure 34: Motives for purchasing outdoor furniture, by gender, August 2005 Figure 35: Motives for purchasing outdoor furniture, by age, August 2005 Figure 36: Motives for purchasing outdoor furniture, by marital status and children in household, August 2005 Figure 37: Motives for purchasing outdoor furniture, by region, August 2005 Qualities and materials prioritized by consumers purchasing outdoor furniture Figure 38: Factors considered when purchasing outdoor furniture, August 2005 Figure 39: Factors considered when purchasing outdoor furniture, by gender, August 2005 Figure 40: Factors considered when purchasing outdoor furniture, by age, August 2005 Figure 41: Factors considered when purchasing outdoor furniture, by marital status and children in household, August 2005 Figure 42: Factors considered when purchasing outdoor furniture, by household income, August 2005 Figure 43: Factors considered when purchasing outdoor furniture, by region, August 2005 Figure 44: Factors considered when purchasing outdoor furniture, by area, August 2005 Summary of findings and conclusions Purchasing of furniture: Overall demographic drivers Patterns and motives for purchasing furniture Priorities when selecting furniture Retail channels These data suggest the following conclusions and actionable points Future and Forecast Future trends Home ownership and outdoor living trends will drive sales Higher interest rates and slower home sales may dampen sales Demographic changes shape future consumer base Influx of cheap imports and growth in specialty chains and mass merchandisers will continue to shape market Trends and innovation in style, material and design Market forecast Casual and outdoor furniture Figure 45: Forecast of total U.S. retail sales of casual and outdoor furniture, at current and constant prices, 2005-10 Forecast factors Appendix: Trade Associations Appendix: Research Methodology Consumer Research Greenfield Online Presentation & Definitions ICR Surveys EXCEL Simmons National Consumer Surveys Technometrica TechnoExpresssm Further Analysis

Trade Research Informal trade research Formal trade research Desk & Internet Research Sources Definitions Forecasts

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