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"The furniture category has grown consistently over past few years, which is expected to continue over the next five years, thanks to a stable housing market and increasing types of living situations, which creates more housing needs. Still, replacement dominates purchases, and consumers need new reasons and options to encourage more shopping. Future growth will be impacted by how and where consumers shop, with more gravitating online and new competition emerging outside the channel. Retailers need to leverage their role as experts and provide tools that make shopping both in stores and online easier in order to keep consumers engaged and shopping for reasons aside from replacement."

- Alexis DeSalva, Retail & Apparel Analyst

  • Competition is increasing in and out of the channel
  • Replacement drives most purchases

What's included

What's included

Table of contents

Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • Overview
          • The issues
            • Competition is increasing in and out of the channel
              • Figure 1: Retailers shopped, select retailers online, May 2018
            • Replacement drives most purchases
              • Figure 2: Reasons for shopping, May 2018
            • The opportunities
              • Retailers can leverage their role as category experts
                • Figure 3: Influence and inspiration, select factors, May 2018
              • Give consumers more reasons to shop
                • What it means
                • The Market – What You Need to Know

                  • Consistent and diverse housing needs contribute to healthy market growth
                    • New housing situations could help create new furniture needs
                    • Market Size and Forecast

                      • Stable, positive growth expected
                        • Figure 4: Total US sales and fan chart forecast of furniture, at current prices, 2013-23
                        • Figure 5: Total US retail sales and forecast of furniture, at current prices, 2013-23
                      • Retailers outside the channel are gaining share
                        • Figure 6: Total US retail sales of furniture, by channel, at current prices, 2013-17
                    • Market Factors

                      • A stable housing market could positively impact furniture sales
                        • Figure 7: Homeownership rates for the United States: 2014 to 2018
                      • Diverse households may create a variety of furniture needs
                        • Figure 8: Number of households, by race and Hispanic origin of householder, 2007 and 2017
                        • Figure 9: Households, by detailed type, 2017
                      • How will increased online shopping impact future sales?
                      • Key Players – What You Need to Know

                        • Pride in home appearance and a desire for quality keeps consumers shopping furniture retailers
                          • Limited reasons for shopping and increased competition signal future concerns
                            • Alternative options could encourage more category engagement
                            • What’s Working?

                              • Traditional retailers are still visited, thanks to consumer interest in quality and value
                                • Figure 10: Ashley homestore email campaign, June 2018
                                • Figure 11: Crate and barrel acquisition mailing, April 2018
                              • Peers, stores, and media are the most influential to consumers’ furniture purchases
                                • Figure 12: TURF analysis – Influence and inspiration, May 2018
                            • What’s Struggling?

                              • Increasing competition outside the channel signals future challenges for traditional retailers
                                • Figure 13: Retailers shopped, online, May 2018
                                • Figure 14: Parachute email campaign, June 2018
                              • Long purchase cycles create frequency challenges
                                • Figure 15: Reasons for shopping, May 2018
                            • What’s Next?

                              • Creating more occasions to shop
                                • Figure 16: Wayfair email campaign, April 2018
                                • Figure 17: Art Van Furniture email campaign, June 2018
                              • Easing the online shopping experience
                                • Figure 18: Wayfair email campaign, May 2018
                              • Alternative purchases
                              • The Consumer – What You Need to Know

                                • Furniture retailers among the most shopped
                                  • Replacement is a top reason, but some shoppers make less strategic purchases
                                    • Strategic shopping dominates
                                      • Consumers turn to peers and experts for inspiration
                                        • Pride in one’s home causes many consumers to seek quality
                                        • Items Purchased

                                          • Items that experience the most wear, result in more purchases
                                            • Figure 19: Items purchased, May 2018
                                          • Young, single men are making a variety of furniture purchases
                                            • Figure 20: Items purchased, by gender and age, May 2018
                                          • Renters prioritize the necessities
                                            • Figure 21: Items purchased, by housing situation, May 2018
                                          • Hispanic consumers are actively shopping the category
                                            • Figure 22: Items purchased, by Hispanic origin, May 2018
                                        • Retailers Shopped

                                          • Majority are shopping furniture retailers, but increased online shopping could cause future disruption
                                            • Figure 23: Retailers shopped – Net any shopping, May 2018
                                          • Married homeowners prefer to shop furniture retailers
                                            • Figure 24: Retailers shopped, by select demographics, May 2018
                                          • Online shopping spans generations
                                            • Figure 25: Retailers shopped (any retailer) – Online, by generation, May 2018
                                          • Multicultural consumers seek value in furniture purchases
                                            • Figure 26: Retailers shopped, by race and Hispanic origin, May 2018
                                        • Reasons for Shopping

                                          • Top reasons for buying are both strategic and impulsive
                                            • Figure 27: Reasons for shopping, May 2018
                                          • Younger generations are equally motivated by replacement and price
                                            • Figure 28: Reasons for shopping, by age, May 2018
                                          • Not all men need a specific reason to shop
                                            • Figure 29: Reasons for shopping, by gender and age, May 2018
                                          • Hispanic shoppers purchase for a variety of reasons
                                            • Figure 30: Reasons for shopping, by Hispanic origin, May 2018
                                        • Shopping Behavior

                                          • Most consumers are strategic when furniture shopping
                                            • Figure 31: Shopping behavior, May 2018
                                          • Younger generations do more pre-purchase research
                                            • Figure 32: Shopping behavior, by generation, May 2018
                                          • Shipping and services impact shopping behavior
                                            • Figure 33: Shopping behavior, by age, May 2018
                                          • Hispanic shoppers are fulfilling online and researching their options
                                            • Figure 34: Shopping behavior, by Hispanic origin, May 2018
                                        • Influence and Inspiration

                                          • Retailers and peers are the most influential
                                              • Figure 35: Influence and inspiration, May 2018
                                            • Young shoppers look to peers and social media for inspiration
                                              • Figure 36: Influence and inspiration, by age, May 2018
                                            • Home owners seek inspiration from experts
                                              • Figure 37: Influence and inspiration and attitudes toward furniture shopping, by housing situation, May 2018
                                            • Hispanic consumers look to peers and experts for inspiration
                                              • Figure 38: Influence and inspiration, by Hispanic origin, May 2018
                                          • Attitudes toward Furniture Shopping

                                            • Most consumers take pride in their home’s appearance, prioritizing comfort and quality
                                              • Figure 39: Attitudes toward furniture shopping, May 2018
                                            • Consumers are warming up to the idea of buying furniture online
                                              • Figure 40: Attitudes toward furniture shopping, by gender and age, May 2018
                                            • Hispanic consumers seek tools and resources to make the best purchase decisions
                                              • Figure 41: Attitudes toward furniture shopping, by Hispanic origin, May 2018
                                          • Cluster Analysis

                                            • Consumers are focused on either their home image, brand names, or efficiency
                                              • Figure 42: Cluster analysis – Attitudes toward furniture shopping, May 2018
                                              • Figure 43: Attitudes toward furniture shopping, by attitudes toward furniture shopping clusters, May 2018
                                            • Image Enthusiasts
                                              • Figure 44: Profile of image enthusiasts, May 2018
                                            • Brand Name Buyers
                                              • Figure 45: Profile of brand name buyers, May 2018
                                            • Efficient Shoppers
                                              • Figure 46: Profile of efficient shoppers, May 2018
                                          • Appendix – Data Sources and Abbreviations

                                            • Data sources
                                              • Sales data
                                                • Fan chart forecast
                                                  • Consumer survey data
                                                    • Direct marketing creative
                                                      • Abbreviations and terms
                                                        • Abbreviations
                                                        • Appendix – The Market

                                                            • Figure 47: New privately owned housing units authorized in permit-issuing places – Seasonally adjusted, June 2018
                                                            • Figure 48: Total US sales and forecast of furniture, at inflation-adjusted prices, 2013-23
                                                            • Figure 49: Number of households, by area of residence, 2007 and 2017
                                                        • Appendix – The Consumer

                                                            • Figure 50: Repertoire of items purchased, by gender and age, May 2018
                                                            • Figure 51: Retailers shopped – In-store versus online, May 2018

                                                        About the report

                                                        This report will give you a complete 360-degree view of your market. Not only is it rooted in robust proprietary and high-quality third-party data, but our industry experts put that data into context and you’ll quickly understand:

                                                        • The Consumer

                                                          What They Want. Why They Want It.

                                                        • The Competitors

                                                          Who’s Winning. How To Stay Ahead.

                                                        • The Market

                                                          Size, Segments, Shares And Forecasts: How It All Adds Up.

                                                        • The Innovations

                                                          New Ideas. New Products. New Potential.

                                                        • The Opportunities

                                                          Where The White Space Is. How To Make It Yours.

                                                        • The Trends

                                                          What’s Shaping Demand – Today And Tomorrow.

                                                        Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted.

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