Perfecting home interior design is considered more important than ever thanks to visual social media platforms like Pinterest and Instagram, as well as television programmes like Interior Design Masters and Kirsty and Phil’s Love it or List it. With that, home furnishing and accessory companies have become increasingly popular as people across the country aspire to perfect their homes like the professionals in the industry. It, therefore, comes as no surprise that there is profit to be made by investing shares in business within the industry. We’ll take a look at just some of the UK’s home businesses and what makes them so successful.
What drives the success of the interior design market?
Whether moving into a new home or revamping an existing one, houses have become much more than just a place to live, but rather, a warm, functional, and fashionable environment. Yet, this doesn’t come without its cost, and when re-evaluating your current home and planning for home improvements, other factors are likely to impact spending on home furnishings, which is often evidenced by Kirsty and Phil on television. Luckily, there are clever ways to save money which has in turn, allowed people to splurge a little more in home retailers.
Before tackling home retailers, a lot of people take advantage of remortgage comparison sites like Trussle to see if they can find a better mortgage that saves them pennies through improved interest rates. By doing this, homeowners pave their way to increased spending on interior design, as mortgages can often be the most expensive outgoing for your home. Equally, saving on energy bills can often prompt people to think about their interior design spend and can provide scope for a bigger budget. Via this strategic money-saving process, people are able to visit more home furnishing retailers of their choosing, and splurge out on home accessories, a few of which, we’ll look at below.
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From kitchen accessories to bedroom décor, Dunelm, which was founded in 1979, is a popular home furnishing retailer in the UK for homeowners who don’t want to break the bank. With a revenue of around 1.1 billion, it’s no wonder this retailer has a stock price of 1,278.00 GBX, at the time of writing.
The White Company
Not only selling homeware, but clothing too, this company hit record sales in 2018, reaching around 2 million with a revenue of around 272 million. Kicking it up a notch, this company goes beyond Dunelm’s price-friendly home items by supplying a touch of luxury.
Not too dissimilar to the White Company, Oliver Bonas was founded in 1993 and has since saturated high streets across the UK with 58 stores nationwide. Appealing to a modern customer, this store sells a range of home accessory items which rakes in a profit of around 3.4 million a year.
From a large organisation like Dunelm, to a slightly newer, up-and-coming business like Oliver Bonus, each retailer appeals to a customer out there. This makes investing in home retailers like these all the more worth it. Even more so, home accessories are more often than not considered as essential for the home, especially when moving home or revamping your current one, as they have the ability to add a personal touch and really turn a house into a home. That’s why the home furnishings market is such a smart place to invest.
By Taylor Wilman