Ikano Pte Ltd was the leading player with a retail value share of 13%. Ikano’s brand, IKEA, offers an extensive range of homewares products. Well-received by young consumers, the brand continues to focus on lifestyle designs to appeal to them. As consumers are also price sensitive, IKEA positioned itself strongly in homewares by offering products at affordable prices. As a market leader, IKEA invests heavily in marketing campaign to stay ahead of its competitors. The launch of the IKEA "BookBook" viral video sought to achieve top-of-mind awareness and strengthen brand equity.
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Homewares is expected to register a retail value CAGR of 1% (constant 2014 prices) over the forecast period. In Singapore, economic uncertainty will continue and consumers will remain cautious about spending. Despite this, consumers are likely to trade up to more premium brands and products as they are better educated and choose better quality products. As such, value sales growth will be expected over the forecast period.
Homewares Market ResearchAnalyse key trends and developments in Singapore for all product categories, competitors and channels.
Evaluate the market position and financial performance of the leading national and international market players.
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