The German furniture industry is feeling the effects of consumers’ reluctance to buy caused by high inflation and the war in Ukraine. After a good start to 2022, demand fell significantly in June and July, said Jan Kurth, Managing Director of the Associations of the German Furniture Industry (VDM/VHK). In July, according to him, incoming orders in the home furniture industry were almost 35 percent and in the upholstered furniture industry even 38.3 percent below the same month last year. For kitchen furniture, the minus was 6.7 percent. Above all, the lower price segment is severely affected by the reluctance to buy. In view of the high energy prices, buyers would have to pay particular attention to their money. However, the industry hopes that demand will increase again after the end of the holiday season in autumn, despite the fact that prices are likely to continue to rise. After all, the home as a safe retreat is gaining in importance, especially in uncertain times. According to Kurth, the industry therefore only expects “a slight decline in volume development” for the year as a whole.
Inflation – furniture industry feels restraint – economy
