Furniture manufacturers gear up for post-flood replacement market
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Furniture makers are moving quickly to cater to what should be a lucrative rehabilitation market as people replace items in their homes damaged by the floods.
Lightweight, simple and movable are to be highlighted as the major characteristics of home furniture so that it can survive floods by being moved to high ground.
Futuristic models of floating buildings and furniture that were showcased at the Bangkok Art and Culture Centre in October focused on practical designs for flood survival and also reflected new designs desired by customers in potential flood areas.
After being hit by the deluge last year, many furniture producers foresaw an opportunity to supply the replacement market. More than 700,000 households were damaged by the floods, which will create an enormous demand for replacement furniture now that the waters have receded.
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, specialised outlets and home centres. They are also improving the quality of their products, and offering better after-sales service.
The country’s home-furnishing market was worth about Bt55 billion last year and is estimated at Bt60 billion this year, according to Kasikorn Research Centre.
Modernform, a market leader in providing built-in furniture for residential and office buildings, has decided shift into a segment more desirable to home-owners who need furniture that can survive floods. The company has rushed to launch a promotion of “value sets”, offering many items of furniture for kitchens, living rooms and bathrooms as a package, to target those clients whose houses were inundated.
“Standalone furniture that is removable should be in trend, while built-in furniture should be out,” said Thaksa Busayapoka, chief executive officer of Modernform.
However, SB furniture said it could not predict what direction the demand for furniture would take after the flood disaster. This would depend on the behaviour of home-buyers, who might switch their preference to condominiums instead of detached houses, or even delay their decision to buy a residence.
