2014-02-26 04:43:01 - Furniture and Homewares Stores in the US - a new market research report on companiesandmarkets.com
In 2012, the US housing market began to look up after years of stagnation. Low interest rates, higher demand, lower inventories, and rising consumer confidence combined to boost the beleaguered housing market. This in turn meant good news for the United States furniture stores market, with consumer spending up in general and homeowners more apt to spend more on furnishings than renters.
This category is quite fragmented, with the largest chains representing less than 30% of the furniture and furnishings market by retail value sales. There are a large number of regional chains and independent retailers, and furniture and furnishings stores also compete with big box mass merchandisers, department stores, warehouse clubs, and hypermarkets, as well as DIY and hardware stores
and internet retailers.
Outlet growth was flat in 2012. Many furniture retailers are experiencing a slow rebound at stores and will be reluctant to invest in opening new locations. Home furnishings and homewares stores, with more liquid inventory, have been slightly more aggressive in expanding, although the overall environment has still been one of caution.
- Retail sales of furniture and homewares stores rise 1% in 2012 to US$89 billion
- Sales and outlet count of homewares stores grow more strongly while furniture store sales are less robust
- Manufacturer and retailer consolidation continues in furniture and homewares in 2012
- Forecast growth for furniture and homewares stores is expected to be up 1% to reach US$90 billion in constant value terms by 2017
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