Impact of the Covid-19 pandemic on the furniture market in Serbia

Abstract

The furniture industry is one of the strategic industries in Serbia, with about 30,000 employees. The subject of research in this paper was the furniture market in three selected regions in Serbia with the aim to consider the influence of certain factors on the demand for furniture during the COVID-19 pandemic, as follows: prices, quality, payment terms, brands, promotions, terms of purchase, frequency of furniture purchase, assortment, and online shopping. The methods used for the research included field research, surveys and analysis of the obtained data. The sample size included 210 respondents who were selected by random sampling method. When it comes to the impact of the COVID-19 pandemic, research shows that it did not significantly influence consumers' decision to buy furniture. Preference is given to domestic producers, both because of the availability of products and because of the more affordable price. When it comes to quality of furniture, the research showed that the 63% are satisfied with the ratio of price and quality, as well as the range offered on the market. The terms of payment are satisfactory, with the 58% customers opting for cash payments. On the other hand, the choice of the manufacturer is based on previous positive experience or recommendation, while going to the salon is the choice of 92% customers, compared to online shopping (8%). The conducted research is important for producers, distributors, and traders of furniture, as well as for the academic community because, for the first time, research was conducted on this topic in Serbia.