What are the market opportunities presented by the Romanian Furniture and Home Decor Market? Romania is the most dynamic economy in Europe, having registered a GDP growth of 7% in 2017.
The Romanians' appetite for Furniture and Home Decor is increasing, also backed by a growth of the residential construction sector of 68.7% in the first 11 months of 2017 compared to the same period of 2016.
In 2017, the Romanian sales of Furniture and Home Decor went up 12% and the total value is estimated to have exceeded 1 bnEUR. Do you want to reach the local buyers? For B2B matchmaking with players in the Emerging Markets in Europe feel free to contact the FRD Center team at: email: firstname.lastname@example.org or tel: +4021 411 1459/60/61
Due mainly to the increasing purchasing power of the 20 million Romanian population, the Romanian imports of furniture in the first five months of 2017 went up more than 7% y-t-y and have reached 256 mEUR.
To keep up with the local increasing demand of quality furniture and home decor, Austrian retailer kika opened its 2nd store in Bucharest at the end of 2017. The investment in the new store amounted to over 14 mEUR and it covers an area of 12,000 sqm.
In 2018, IKEA aims to finalise an investment of 86 mEUR and open its second store in Romania. By 2025, they announced plans to open a total of 9 stores, to face local demand for furniture and home decor.
Currently counting 51 stores, ten years after the opening of the first store in Romania, JYSK plans have become ambitious: they want to inaugurate 15 new stores in 2018 and increase their market share both of sleeping products, as well as in the home decor and furniture products.
Various local furniture chains of stores and showrooms also have plans to expand in 2018 after registering double-digit sales growths in 2016 and 2017. Some of them are Elvila, Mobila Casa Rusu, Lem's, Mobexpert etc.