Tech-savvy market slows furniture sector recovery

CEBU, Philippines - Although the furniture industry is expecting a slight improvement in the overall market demand this year, the new breed of tech-savvy consumers poses a threat to the furniture makers.

Cebu Furniture Industries Foundation Inc. president Robert Booth said in an interview that this generation is providing another challenge to the furniture sector, as the priority of the new market particularly the young families, is no longer on how to beautify their homes but rather are more bent on keeping up with the latest gadgets and technology available in the market.

Meanwhile, although an improvement in demand has been noted last year, both from the domestic and global markets, especially United States, volumes however have shrunk and preference in choosing furniture size has also changed.

The retiree market, who used to be the active buyers of furniture in the past are now transferring to smaller houses and no longer require smaller fixtures at lesser volume.         Significantly, the new breed of customers or the new generation market are not anymore particular in spending home furnishings and accents, as lifestyle has changed and going home to "relax" is not in their system anymore.

This shift of lifestyle and spending habits, Booth said pose another threat for the furniture industry, but he is confident that the cycle will continue to move , and the tech-savvy generation will eventually settle down and will need furniture--although in smaller volume or sizes.

He believes that the cycle of furniture is also like fashion, market preference, lifestyle will evolve, the reason why Booth said the furniture or the furnishing industry is here to stay and far from being a sunset industry. (FREEMAN)