Second quarter US home furnishings retail share profile

With the release of the second quarter sales of major household products in the US, US market research and analysis firm YipitData has released its second annual household goods market share index this year. The index samples pure household goods retailers in the US, excluding Walmart and other general hypermarkets.

Bed Bath & Beyond, Ashley Furniture, Wayfair and Overstock saw the biggest year-over-year declines in market share, according to the report. While Overstock and Wayfair experienced a huge boom in sales at the start of the pandemic, the single-online home goods retailers gradually lost market share as consumers increasingly returned to brick-and-mortar stores.

Still, Wayfair continues to have the largest market share, but is losing share as omnichannel retailers grow. One of the biggest losses since the first quarter report came from Overstock, which moved from ninth to 13th. Bed Bath & Beyond also fell from second place to fifth.
Retailers that gained share were HomeGoods, which moved up from third to second, and Big Lots, which moved up from fifth to third.
The top five home goods retailers with market share gains in the second quarter were La-Z-Boy, Pottery Barn, Restoration Hardware, Arhaus and Crate and Barrel/CB2. One of the common points analyzed in the report is the positioning of high-end goods, with the average order size of more than $1,000.
Several regional furniture chain retailers also made it into the top 30 by market share, They include Raymour & Flanigan (No. 16), Nebraska furniture Mart (No. 17), Bob's Discount furniture (No. 18), Havertys (No. 23) and Badcock (No. 24) Home furniture.
The report also showed that despite an increase in U.S. consumers returning to physical stores during the pandemic, the total monthly sales of goods at the top 10 home furnishing retailers declined compared to last year, indicating a significant decrease in consumer spending on home goods.