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US Furniture Retailing market report

Everything you need to make the right decisions

Providing the most comprehensive and up-to-date information and analysis of the Furniture Retailing market, its consumers and the major players who make up that market.

Mintel has the answers you’re looking for

  • What are the key challenges facing the industry?
  • Who is the consumer and what do they want?
  • Where are the opportunities, where are the risks and what lies ahead?

Market

Point of sale market data

In conjunction with IRi, extensive point of sale data shows you what consumers are spending their money on

Market Size

How big is the market today and what is our 5 year forecast? Includes both best & worst case scenarios

Market Segmentation

What are the different segments within the market and how are those individual segments performing?

Consumer

Consumer behaviors

What are consumers looking for, what drives their buying habits and what are their main purchase influencers?

Demographic breakdown

From iGen & Millennials to Baby Boomers & beyond. Who is spending money and what are they spending it on?

Representative sample

We gather our data from real-world consumers, selected to accurately reflect precise global demographics

Players

Company strategy

What are the key players doing, what has been successful for them and what was their marketing spend?

Product innovation

Using data from our Global New Product Database, what products were launched and how well were they perceived?

Opportunities

What happens next, which areas are likely to experience growth and what opportunities exist within the market?

Expert analysis from a specialist in the field

Written by Alexis DeSalva, a leading analyst in the Retail & Apparel sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

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

Covered in this Report

This Report focuses on the furniture market. It offers sales trends, a snapshot of recent initiatives from key furniture retail players in the US market, as well as a detailed exploration of consumers’ attitudes, usage, and shopping behaviors in this category. The following furniture categories are included in this Report:

  • Upholstered furniture
  • Sleep equipment, including mattresses, springs, cots, waterbeds
  • Sleep sofas, daybeds, futons, and other dual-purpose pieces
  • Office furniture, including computer-related furniture
  • Outdoor/patio furniture (also covered in Mintel’s Patio and Backyard Living – US, July 2018)
  • Living room, dining room, and bedroom furniture (excluding mattresses/sleep equipment and sleep sofas/other dual-purpose pieces)
  • All other furniture including kitchen, dinette, etc.

What you need to know

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.

What you get

What's included

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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