Abstract
Since 2008, consumer confidence has dipped because of worsening economic conditions, and the housing market has suffered a significant downturn, causing a severe drop in demand for all kinds of furniture and home products. Sales of home storage furniture appear to have dipped in line with the drop in furniture sales, but the desire to de-clutter and make the home tidier and more attractive has helped shore up demand for lower-priced storage accessory items.
The consumer boom of the last 15 years has meant that consumers have accumulated more possessions, and so they need more ways of storing them. Home storage items can provide a low-cost answer to de-cluttering and the fashionable designs introduced by a wide variety of suppliers can transform a utilitarian purchase into a treat.
People frustrated by not being able to move to a larger house may also have an increased desire to revamp their storage in the house they have now. So demand for home storage items is likely to fare better than that for all furniture.
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