SAVING THE FURNITURE
Under the sanitary crisis we are living, the furniture industry has adapted to all the different challenging situations, adding different resources for a more flexible and optimized production to meet the final market demands as it was increasing.
The global Covid-19 crisis brought economic uncertainty. Uncertainty comes from the fact that no one knows about the end of the crisis, but with the appearance of the different vaccines and the presentation of the vaccination calendars brings us closer to the end of a very long tunnel.
Some experts pointed out from the very beginning some forecasts about an increase of purchases of any products related to the improvement of their home´s comfort. This is a consequence of staying longer times at home and specially of the boom of remote working, which generated a change on the consuming behaviors.
The restrictions of movements and travelling, and the annual expenses that families normally invest in leisure, have been directly transferred to furniture and equipment; as much as people started to invest in reforming or upgrading some of their houses, certain rooms, or second residences for people to feel better and more comfortable at home. Some of what some people are calling “the effect of the shelter home”.
Some early-recovered data from the Spanish Furniture Organization AIDIME were compiling some good expectative for the industry, even considering the uncertain economic period and a crystal-clear V-Recovery of the industry, with a big loss on the second quarter of the year (-24,8%), but a big bounce up for the third and last quarter (third quarter by a -4,5%).