The sector ofItalian decor, after double-digit growth in 2021, expects to grow even more this year, albeit to a lesser extent, supported by a good exports and the support of the Pnrr. This is what emerges from the study ofMediobanca Studies Area carried out on 330 companies active in the woodworking, furniture and lighting and coverings sectors, whose sales account for 41,4% of the entire Italian furnishing system.
In 2022 the companies of the IV Capitalism operating in the Italian furniture system predict 8,5% sales growth nominal and exports up by 8,1% nominal, also thanks to the fact that about 65% of companies expect a direct or indirect benefit from the Pnrr, says the report.
Furnishings: sales up for coverings, furniture and lighting
In some sectors, the unknown factors weigh more than in others: in fact, “the prospects for the players in the sector are less dynamic wood processing as they are more subject to energy increases and shortages of raw materials. The expected nominal increase in sales is +6,7% (+4,2% across the border)” explains the Mediobanca Studies Area report published in conjunction with the Milan Design Week adding that "coatings manufacturers instead expect sales to grow by a nominal 11,7% (exports +11,1%), while the furniture and lighting sector forecasts a nominal increase of 8,3% both in Italy and abroad.
In 2021 double-digit growth for the turnover of the furniture sector
For 2021, the sector estimates an increase of aggregate turnover of 25% (+22% exports). In particular, the woodworking sector grew by 37% (+21% exports), coatings by 25% (+21% abroad) and furniture and lighting manufacturers closed 2021 with growth in sales of 23%, both domestically and across borders.
Reorganize in order not to interrupt the supply chain
To deal with the risk of breakage, 77,8% of medium and medium-large companies in the furniture system have theincrease or diversification of suppliers which is combined with their proximity, considered strategic by 61,1% of companies.
On average, 11% of purchases come from a foreign supplier and about 84% of companies have at least one. But the production is carried out almost entirely in Italy showing that the Fourth Capitalism of the furniture system is an authentically Italian phenomenon in terms of ownership and organization, but with significant cross-border sales that exceed 52% of the total.
As for the competitive environment, the majority of companies believe that the advantage of foreign competitors lies in their larger size (56,6%) and lower production costs (45,3%). 52,8% of companies believe that foreign competitors reside in countries more favorable to companies, with better public administration and more adequate infrastructure networks. On the other hand, no inferiority is perceived in terms of product quality, reliability and skills.
Necessary managerial changes and capital operations
It is also known that all family businesses sooner or later find themselves having to face the question of generational change hopefully in continuity with family values and traditions. This is a need felt by 40% of the responding companies. Some, however, delay the process: 61,1% of entrepreneurs recognize the lack of skills/will of the heirs as an impediment in this regard
