According to CSIL, the European upholstered furniture production accounts for around 14 billion EUR, a value that has cumulatively grown by 10% in the last decade. Still, in the same period, the growth registered at the world level was faster, sustained by the rapid development of production in Asia. In the global context, competition has intensified. Europe continues to be a relevant player, covering around one-fifth of world production. Despite its share on world production decreased to 19% in 2020 from 27% in 2010, Europe remains a strong competitor in the global environment.
In a context featured by continuous pressure on prices favouring, among others, countries with lower labour costs, product innovation strategies become a more critical driver of competitiveness for European companies.
CSIL partner Alessandra Tracogna discusses product innovation as a strategy to differentiate on the market. Personalisation multi-functionality sustainability emerged as market trends accentuated in the COVID era. The R&D and technical departments lead the product innovation process that goes far beyond research in style and design and involves collaborations with component suppliers, adding functions adapting to new usages.
Read Product innovation: driver of competitiveness for upholstery in Europe on World Furniture Online.
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