Post-flood demand seen boosting furniture market

So far, more than 700,000 households have been damaged by floods, which will create an enormous demand for furniture once the waters recede. The government’s first-home stimulus package is also expected to boost demand for furnishing products.
This explains why many manufacturers have been active in setting up new stores, speciality outlets and home centres. They are also improving the quality of their products and offering better after-sales services.
The massive flooding, which has hit several regions of Thailand, has had an adverse impact on the home-furnishing market, which is suffering from a severe slowdown in the fourth quarter instead of experiencing a peak in sales as it usually does. This is because flooding has expanded in the Central region, especially Bangkok and its suburbs, which are the key hubs for furniture manufacturers and distributors.
Kasikorn Research Centre predicts that total earnings in the home-furnishing market will hit about Bt55 billion showing only a 3-4 per cent increase for the entire year.