Sales in the global homewares market continued to perform well in 2012 growing by 4% year-on-year to reach US$81.4 billion. Unlike the home and garden market as a whole it also grew (albeit more slowly) during the economic downturn, and since 2009 the pace of growth has risen steadily. It continues to perform better than the home and garden sector as a whole.
Homewares offers a wide variety of products and price points that can benefit in both weak and improving economic environments, such that the category as a whole has largely proved to be a resilient one.
The pace of growth is most pronounced in developing markets, with Latin America, driven by Argentina and Brazil, seeing the most dynamic growth, as rising disposable incomes help to drive in-home spending.
In total, 70% of homewares value growth over 2007-12 came from the fast developing BRIC countries. By contrast, there was little change in the value of the market in developed regions over 2007-12, although 2012 was a more promising year.
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