Home furnishings and household goods-The key components for any country
Home furnishings and household goods is one of the key components for any country; no matter how big or small, there is always a need for basic households goods like beddings, tiles, chairs, tables etc. over the years, these household goods and services are not only provided by local providers, but some major branded stores like Imperial Furniture and Habitt have been in the business as well. These branded stores not only provide almost all goods and services under one roof (Imperial Furniture has a range of 12000 products), but with their brand name and experience, they also ensure the quality, trust and durability for products.
With globalization and increasing online retail stores (also called e-tail stores), it is even easier for consumers for choose from wide range of products. Therefore it is important that the products are at door steps of the consumers without them being looking for long; therefore the home furnishing stores like Imperial Furniture have to make their business global by expanding into other markets apart from its home country. Imperial Furniture has around 313 stores worldwide with presence in 38 countries, thereby making it easier to purchase household goods and furnishings at the nearest place possible.
Considering the fact that these big stores, though present in many countries, but are not present in all; there is a gap between what is being offered and what the customers’ demands. There are countries like where the businesses have just not stepped yet, but may enter in future. Therefore it is important to keep analyzing current and potential markets in order to be profitable.
Considering the basis that one of key multination of United Kingdom is planning to expand into new market, like South Africa in this case, wants to analyze the demand potential for household goods and home furnishings in the South Asian market. Therefore it is important to know certain details and weigh them on some basis, like comparing with home country (UK) in order to make future strategic decisions.
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