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Estimating the size of the premium and high-end modern European furniture market

As a relatively new market, the figures available for the overall furniture market size in China vary, and those for the modern European design sector did not exist. We therefore developed two models from which to determine the market size of the premium and high-end sector for the next 10 years, using differing criteria to enable us to compare their correlation to one another. One common variable existed for both models; this being the ratio of new furniture purchases to replacements. However, both models are based on differing purchasing assumptions to avoid further links between the two.

According to The World Upholstery Market Report 2011/2012, the projected market size just for soft furnishing sales in in China in 2011 was about $16.8 Billion, or approximately 108 Billion RMB. By contrast in 2010, Euro monitor estimated the sales of luxury furniture in China to be 4 Billion RMB, however, there was no specific definition of ‘luxury furniture’ used. Reference to both these figures and those known sales figures from other furniture brands in China are used to benchmark our market size estimations. ….

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