2022
9
US Online Shopping for the Home Market Report 2022
2022-07-02T04:03:45+01:00
OX1101717
3695
152619
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Report
en_GB
This report will help you to uncover opportunities and understand the key issues affecting your market. How? By giving you instant access to analysis and critical recommendations. It will also…

US Online Shopping for the Home Market Report 2022

£ 3,695 (Excl.Tax)

Report Summary

This report will help you to uncover opportunities and understand the key issues affecting your market. How? By giving you instant access to analysis and critical recommendations. It will also challenge routine thinking by providing fresh, new perspectives that energizes your thought processes.

Mintel research sources can include exclusive consumer data, brand/company research and insights from key trade members. This means that we provide you with the complete picture and robust information you need to make the decisions to drive your business forward.

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Table of Contents

  1. Overview

    • What you need to know
      • This Report looks at the following areas
        • Definition
          • Market context
          • Executive Summary

              • Top takeaways
                • Market overview
                  • Figure 1: Total ecommerce sales and forecast of furniture and home furnishings, at current prices, 2016-26
                  • Figure 2: Online shopping for the home outlook, 2022-27
                • Opportunities and challenges
                  • Support consumers and their economical mindset
                    • Enhance the omnichannel shopping experience
                      • Leverage social media to streamline the shopping process
                        • Key consumer insights
                        • Market Size and Forecast

                          • The market declines from pandemic highs
                            • Figure 3: Total US retail and ecommerce sales and forecast of furniture and home furnishings, at current prices, 2016-26
                            • Figure 4: Total US retail and ecommerce sales and forecast of furniture and home furnishings, at current prices, 2016-26
                        • Segment Performance

                          • eCommerce supports consumers’ economical behaviors
                            • Figure 5: Total ecommerce sales and forecast of furniture and home furnishings, at current prices, 2016-26
                        • Market Factors

                          • Rising inflation and interest rates limit what consumers spend
                            • Figure 6: Consumer Price Index change from previous year, 2020-22
                            • Figure 7: Disposable Personal Income change from previous period, 2007-22
                            • Figure 8: Create comforts notifies consumers about its pricing update
                          • Supply chain challenges continue
                            • Higher mortgage rates will slow the housing market
                              • Technology is essential to keep consumers engaged online
                                • The home can be part of the sustainability solution
                                  • Figure 9: Comfort Works offers ability to update the look of furniture
                              • Competitive Strategies and Market Opportunities

                                • Competitive strategies
                                  • Wayfair plans to expand to physical retail
                                    • Figure 10: Wayfair expands into physical retail
                                  • Pinterest AR feature includes furniture and home décor
                                    • Figure 11: Pinterest adds AR feature for furniture
                                  • Etsy introduces shoppable virtual house
                                    • Figure 12: Etsy introduces an augmented reality experience
                                  • Parachute expands its product assortment and plans for greater brick-and-mortar reach
                                    • Figure 13: Parachute expands into furniture, 2021
                                  • Joybird launches first national TV campaign
                                    • Figure 14: TV campaign by Joybird
                                  • Market Opportunities
                                    • Ensure efficient order fulfilment to improve the overall online shopping experience
                                      • Place flexibility and convenience at the forefront
                                        • Support parents with the specific needs at home
                                          • Figure 15: West Elm promotes its transitional furniture to resonate with parents
                                      • The Online Home Consumer – Fast Facts

                                        • Items Purchased – Home Décor

                                          • An easy and affordable way to change the look of living spaces
                                            • Figure 16: CB2 uses shoppable post to showcase variety of décor items
                                            • Figure 17: Items Purchased – Home décor, by generation, 2022
                                            • Figure 18: La-Z-Boy encourages consumers to clean and refresh their homes
                                          • Tap into cultural trends to better connect with consumers
                                            • Figure 19: Items Purchased – Home décor, by race and Hispanic origin, 2022
                                            • Figure 20: West Elm appeals to Asian consumers
                                        • Items Purchased – Furniture

                                          • Younger generations are actively shopping for furniture
                                              • Figure 21: Items Purchased – Furniture, by generation, 2022
                                              • Figure 22: CB2 offers savings through bundles
                                            • Parents have more needs for furniture than those without kids
                                              • Figure 23: Havenly designs Rihanna’s nursery
                                              • Figure 24: Items Purchased – Furniture, by parental status, 2022
                                              • Figure 25: Casa Kids offers a full resale program
                                          • Starting the Shopping Process

                                            • There are varying paths to discover home goods
                                              • Figure 26: starting the shopping process, by generation, 2022
                                            • A homeowner represents an increased customer lifetime value
                                              • Figure 27: The starting point, by housing situation, 2022
                                          • Channel and Retailers Shopped

                                            • Consumers shop across channels; still, there is a clear preference to shop in stores
                                                • Figure 28: Channel shopped, 2022
                                                • Figure 29: Lulu and Georgia Trade Program
                                              • Those that deliver value are the retailers of choice
                                                • Figure 30: Retailers shopped, by generation, 2022
                                                • Figure 31: Kaiyo highlights the savings when shopping secondhand
                                                • Figure 32: Nordstrom’s home department
                                              • Financial means are mirrored on where consumers shop
                                                  • Figure 33: Retailers shopped, by race and Hispanic origin, 2022
                                              • Purchase Considerations

                                                • Consumers want convenience when shopping for the home
                                                  • Figure 34: Purchase considerations, by gender, 2022
                                                  • Figure 35: TURF Analysis – Purchase considerations, 2022
                                                  • Figure 36: Wayfair targets consumers with free and fast shipping, 2022
                                                • Offerings of value are key to drive appeal across generations
                                                  • Figure 37: Purchase considerations, by generation, 2022
                                              • Shopping Behavior

                                                • Consumers want to make more informed purchasing decisions
                                                    • Figure 38: Shopping behavior, 2022
                                                    • Figure 39: West Elm highlights its commitment to sustainability
                                                  • Younger consumers are eager to learn about home categories
                                                    • Figure 40: Shopping behavior, by generation, 2022
                                                    • Figure 41: Ethan Allen engages consumers through designer tips
                                                  • Affordability is critical to appeal to Black and Hispanic consumers
                                                    • Figure 42: Shopping behavior, by race and Hispanic origin, 2022
                                                    • Figure 43: HomeGoods highlights its savings
                                                • Source of Inspiration

                                                  • The return to stores is here, yet online channels are no less important
                                                      • Figure 44: Source of inspiration, by generation, 2022
                                                      • Figure 45: HomeGoods leverages passing trends to inspire consumers
                                                    • Asian consumers prefer to be inspired through traditional sources
                                                      • Figure 46: Source of inspiration, by race and Hispanic origin, 2022
                                                      • Figure 47: Target leveraged UGC to showcase home items
                                                      • Figure 48: Hem encourages consumers to sign up to its newsletter
                                                  • Social Media Behaviors

                                                    • Young males are learning about home categories behind the screen
                                                      • Figure 49: Social media behaviors, by gender and age, 2022
                                                      • Figure 50: Crate & Barrel shared styling tips
                                                    • Black and Hispanic consumers are taking advantage of social media features
                                                      • Figure 51: Social media behaviors, by race and Hispanic origin, 2022
                                                      • Figure 52: Walmart creates relatability through UGC
                                                  • Barriers to Purchasing Online

                                                    • Expand on fulfilment options to minimize consumers’ barriers to shopping online
                                                      • Figure 53: Barriers to purchasing online, 2022
                                                    • Despite improvements there is still a digital divide
                                                      • Figure 54: Barriers to purchasing online, by generation, 2022
                                                  • Desired Tech Features

                                                    • Interest of younger generations will guide future online shopping
                                                      • Figure 55: Desired tech features, by generation, 2022
                                                      • Figure 56: Modsy design services
                                                    • Leverage technology to better appeal to multicultural consumers
                                                      • Figure 57: Interest in technology, by race and Hispanic origin, 2022
                                                      • Figure 58: Studio McGee partners with the founder of Clare paint to engage consumers
                                                  • Improving the Online Shopping Experience

                                                    • There is an aspiration to receive home goods in a timely manner
                                                      • Figure 59: CB2 highlights in-stock and ready-to-deliver product assortment
                                                      • Figure 60: Improving the online shopping experiences, by generation, 2022
                                                      • Figure 61: Outer offers neighborhood showrooms
                                                    • Parents would benefit from non-traditional offerings
                                                      • Figure 62: Further opportunities, by parental status, 2022
                                                      • Figure 63: Crate & Barrel leans on baby registries
                                                  • Appendix – Data Sources and Abbreviations

                                                    • Data sources
                                                      • Sales data
                                                        • Forecast
                                                          • Consumer survey data
                                                            • Consumer qualitative research
                                                              • Marketing creative
                                                                • Abbreviations and terms
                                                                  • Abbreviations
                                                                  • Appendix – The Market

                                                                      • Figure 64: Total US retail and ecommerce sales and forecast of furniture and home furnishings, at inflation-adjusted prices, 2016-26
                                                                      • Figure 65: Total sales and forecast of home furnishings, at inflation-adjusted prices, 2016-26
                                                                      • Figure 66: Total sales and forecast of furniture, at inflation-adjusted prices, 2016-26
                                                                      • Figure 67: Total ecommerce sales and forecast of furniture and home furnishings, at inflation-adjusted prices, 2016-26
                                                                  • Appendix – The Consumer

                                                                      • Figure 68: Median household income, by race and Hispanic origin of householder, 2020
                                                                      • Figure 69: Shopping Habits – CHAID – Tree output, 2022

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