This brittle consumer confidence is highlighted by figures from GlobalData’s Customer Sentiment tracker for December 2023, with over 45% of shoppers saying that now is a bad time to make big-ticket purchases. These efficiencies are expected to help its first half profits before tax be marginally ahead of last year’s £7.1m. “Upholstery’s prospects will remain challenging for the first half of 2024, with DFS seeing order uptake during its Winter Sale period remaining consistent with its first half. Consumer sentiment is set to remain weak, with GlobalData’s December Consumer Sentiment Tracker showing that a net of 24.0% of consumers said that they intend to spend less on furniture & floorcoverings compared to more over the next six months, trailing only entertainment. These conditions make the retailer’s expansion into other furniture categories look especially prudent as it gives it access to more buoyant categories, such as bedroom furniture, and will encourage more frequent visits from shoppers in the future.”

Source: The Times January 20, 2024 07:16 UTC