After several years of rapid growth in the market value, lower sales of home furnishings are expected in the 2020-2024 perspective, according to forecasts included in PMR’s latest report “Home furnishings market in Poland 2019. Market analysis and development forecasts for 2019-2024”.
Slowdown is coming for home furnishings market in Poland
Since 2015, the Polish market of home furnishings has recorded an annual growth rate of over 7%. The reason was of course a great situation on the residential market, with which the market of furniture and interior design is correlated. In addition, a good economic situation combined with social transfers made Poles willingly undertake renovations of existing residential premises.
However, the upcoming economic slowdown will leave its mark on the residential market, which in turn will have a direct impact on the interior design market. PMR forecasts indicate that 2020 will be the last year of very high growth on the home furnishings market and that the growth rate will fall below 5% in the following years. Nevertheless, the market situation will be good and the projected growth will continue to exceed the GDP growth rate.