The Furniture Market in the Context of the Development of the Market of Socially Quasi-significant Goods

: pp. 326 - 332
Social Sciences Akademy

It has been established that the furniture industry is a socially important part of the totality of Ukrainian wood-processing branches of the economy. It covers several enterprises that are engaged in both the production and sale of furniture to satisfy the residential and commercial needs of consumers. Products of the furniture industry are popular among consumers in any economic condition; the demand for them depends on the living conditions and income level of the population. In the last pre-war years, Ukraine constantly increased the production and export of furniture. At the same time, the Ukrainian furniture industry is characterized by a high level of competitiveness compared to other sectors of the economy that produce and sell pre-selected consumer goods. However, the furniture market in Ukraine, as well as the markets for other goods, were negatively affected by the conditions of martial law. They led to a decrease in demand for furniture, an increase in prices for raw materials and, accordingly, for finished products, the emergence of problems with raw materials and suppliers, damage, and even the destruction of several furniture manufacturers and sellers. However, even in such difficult conditions, Ukrainian furniture manufacturers export their goods to almost 100 countries around the world. In general, important trends in the development of the furniture market in Ukraine recently included: the development of the home furniture segment; the emergence and active growth of multi-brand furniture hypermarkets, which allow consumers to view goods from different manufacturers; and the development of online sales of furniture. To adapt to established changes in the environment of their operations, manufacturers and sellers of furniture must make changes in their marketing activities. Taking into account the above trends, it was determined that domestic furniture manufacturers need to improve their marketing policy, in particular: develop the standard and semi-luxury price segments, taking into account the limited funds of the main consumers in the conditions of martial law; update the design of the offered furniture, paying special attention to minimalism, loft, and hi-tech styles; more actively use Internet advertising, in particular in social networks; offer consumers the ability to independently determine furniture parameters online (size, color, used materials and accessories, etc.).

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