Market Overview

The domestic homeware retail market size for 2022 based on the retail sales amount is estimated at 3,592,600 million yen, 102.0% of the previous year. Following the 103.3% year-on-year growth of 2021, the market showed positive growth for two consecutive years, by 70,600 million yen in amount (from 35,220,000 million yen in 2021). The market size of all seven major fields except for the “bed linen/beddings” is estimated to have exceeded that of the prior year.

Noteworthy Topics

Influence of Yen Depreciation on Product Categories with Imports Occupying High Market Share

Imports occupy high market share in the seven categories defined as the homeware retail market and in items associated with these categories. Among items that had shown decreasing trends both by volume and by value up to 2020, quite a few showed a rise by value due to the effect of weak yen in 2022 despite a decline by volume, as was seen in 2021. The increase of unit price of imports led to price revisions (price raise), and there is a concern that the market will take a downturn because of the price hike.


 

Future Outlook

The domestic homeware retail market size in 2023 is expected to decline to 98.7% of the preceding year to 3,546,000 million yen. The market is forecasted to diminish as the staying-at-home demand to modify living environment is likely to take a downturn, following the downgrading of COVID-19 to Category 5 under the Infectious Disease Act, which eased activity restrictions and freed people to go out. In a meantime, in the category where imported items represent a major part of market share, the size of these markets may grow by value as the product prices hover high or are raised repeatedly.


 

Research Outline