milan — Federlegno Aledo, president of the Italian Woodworking and Furniture Industry Federation, said that inflation will affect the sector in 2023.
According to the latest Monitor Report, the organization expects sales in the wooden furniture sector to decline by 8.1% in 2023, according to preliminary figures prepared by the Federleño Aledo Research Center at a press conference in the Salone del Mobile on Tuesday. It was announced that the total amount was 52.6 billion euros. exhibition. This figure is based on data compiled by the Italian statistics agency Istat.
The 8.1% decline was lower than the previous forecast of a 7% decline announced in December.
“The decline in the entire supply chain is also caused by a physiological decline in domestic demand after two years of exceptional growth,” said Claudio Feltrin, president of Federlegnoredo. He cited inflation as one of the main factors. It added that sales in the domestic market fell by 10.1% to 32.7 billion euros, while revenue from exports fell by 4.5% to 20 billion euros. Feltrin added that the Italian furniture market faces an “uncertain macro environment” until 2024, with Germany and the US “struggling”.
Feltrin noted that the ongoing Suez Canal crisis has “multi-pronged and severe impacts” and that terrorist attacks on foreign container ships would impact both exports and imports from the timber supply chain.
The FederlegnoArredo Study Center named France as the largest export market for Italian wooden furniture, followed by Germany, the United States and China in seventh place.
Federlegno said in December that Italian furniture exports will recover slightly in 2024, despite declining global consumer confidence and subdued spending patterns.
Salone del Mobile Milano is back in earnest from April 16th to 21st and is expected to welcome more than 1,900 exhibitors, just like last year, according to a preview published in January. Chairman Maria Polo spoke to WWD at the occasion. The six-day trade fair is expected to attract more than 300,000 visitors from major markets in Europe, the US and China, as well as Saudi Arabia, India and the Far East, to take a look at the latest furniture, kitchens and bathrooms. design.