TRADE ASSOCIATION PR
Continued high demand for furniture combined with a ‘perfect storm’ within the supply chain is extending lead times ahead of the festive rush.
According to the latest economic update from British Furniture Manufacturers (BFM) the shut-off for Christmas deliveries is becoming earlier than ever before.
BFM Managing Director Nick Garratt analysed retail data, spending trends and supply chain issues as part of BFM’s Monthly Economic Review.
The September report examined the latest figures from the Office for National Statistics and the British Retail Consortium as well as data from GfK, PAYE and Maersk alongside BFM’s own research into material prices.
Nick warned that the sector was facing a ‘perfect storm’ of increasing demand, limited supply and port closures alongside rising material prices and shipping costs.
He said: “For some time, BFM price reports have been recording large material price rises – some items over 60% – due to high demand and supply shortages.
“The latest BFM Prices Report for August shows little sign of this trend abating.
“With strong order books many businesses are operating on long lead times and shut-off for Christmas deliveries is happening earlier than ever before.”
The BFM Monthly Economic Review is available for members and those with an interest in the furniture sector at https://www.bfm.org.uk/resources/documents/bfm-economic-review-aug-2021/