Boston, MA -- (SBWIRE) -- 10/13/2014 -- The economic recession continued to shape the performance of homewares in Spain in 2013. The category saw a dual trend: On one side, dining products continued to see its sales decline significantly, affected by the drop in disposable income and resulting decline of consumer spending. On the other side, the cocooning trend and more leisure time spent at home by consumers as a saving measure has resulted in a revival of home cooking, benefiting the performance of kitchen products.

Competitive Landscape

IKEA Iberica led sales within homewares in Spain, with a 10% value share. The strong position within the category is explained by the success of the Swedish multinational in offering the widest variety of homeware solutions in a unique point of sale at low prices. IKEA Iberica has strongly benefited from the economic recession and taken share from other companies, thanks to its good value for money, convenience, quality and the appealing design of its products.

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Industry Prospects

Even though analysts anticipate that the Spanish economy will begin to pick up between 2014-2015, homewares is not expected to show significant improvement in value sales during the forecast period recording a negative value CAGR of 1% until 2018. The fact is that despite the improvement in the economy and the GDP expected for the coming years, high unemployment and limited disposable income will continue to lean the balance of consumers towards products offering high value for money and cheap Asian imports, a fact which is expected to hamper value growth in the coming years.

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