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US Furniture Market 2017: Stores Face Softer Growth and E-Commerce Competition

Coresight Research

Key Points

In this report, we provide an update on the US furniture market so far in 2017, as well as highlight what could impact it over the longer term.

  • Growth in furniture sales has weakened considerably year to date. Year-over-year growth in consumer spending on furniture averaged 2.5% in the first six months of 2017, almost half the 4.5% for all of 2016.
  • Market growth was even weaker in May and June, the most recent months for which we have data.
  • Soft growth in existing home sales and a weakening of real income growth are likely what is depressing expansion of the US furniture market.
  • US Internet sales in the broader homewares and home furnishings category totaled $19.2 billion in 2016. We identify the top online homewares and furnishings retailers as Amazon, Wayfair and Williams-Sonoma.
  • We note four factors that are likely to impact the US furniture market over the longer term: more people renting their homes, a greater proportion of the population living in apartments, a larger senior population wanting to “age in place” and millennials establishing households.

You may also be interested in The 2019 US Furniture Market, The Impact of the US-China Tariff War’s Impact on Furniture Brands and Retailers or Where do US Customers Prefer to Shop for Furniture.


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