With the lasts couple of years being the most challenging for my business, both logistical and emotionally, I had to ask some tough questions and really look into ‘what does the future really hold for us in this industry? I’m seek knowledge and taking action of the market potential in the antique and homeware industry, especially in the UK.
Overall the UK homeware market is expected to grow in the coming years, while the UK antiques industry is in a strong position in the global market. We already are aware of that English and French antiques are the most sort after products internationally and this I take into consideration when sourcing for The Urban Vintage Affair.
⚜️Homeware Market
The UK homeware market was valued at GBP14.32 billion in 2023, and is expected to have an annual growth rate of more than 1% through 2028. The homeware market is considered more insulated then other categories due to its ‘budget friendly nature’. However, there is still a strong desire to return to physical stores for homeware shopping.
⚜️Antiques Industry
The UK antiques industry is in a strong position in the global market, with 60% of industry revenues coming from international sales. This also being kinda in-line with my online sales for The Urban Vintage Affair. The industry is concerned about increased EU and US trade measures that could negatively impact international competitiveness. So the antique industry needs to come up with initiatives to promote its profile overseas and manoeuvre (legally) through these international logistics.
The value of precious’s metals including gold and silver has been a steadily growing over the years holding a potential area to trade and invest. So keep your eyes peeled for more sellers in this area.
Speaking with UK dealers, the common challenges facing the antiques industry with the UK include finding good quality stock. It’s becoming more difficult, due to a number of factors, including the public becoming more knowledgeable about antiques, and the use of online marketplaces. And overall we are aware that marketplaces at all levels, hold the monopoly on selling antiques.
Time to shine ✨
