Home Furnishings Stores Industry Profile

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Excerpt from Home Furnishings Stores Industry Profile

Companies in this industry sell new home furnishings, such as decorative items, kitchen and bath products, linens, and window treatments from physical retail locations. Major US companies include At Home, Bed Bath & Beyond, Pier 1, RH (formerly Restoration Hardware), and Williams-Sonoma.

The global market for home furnishings is forecast to grow by about $355 billion at a 6.17% compound annual growth rate (CAGR) during the 2021-2025 forecast period, according to Technavio.

The US home furnishings store industry includes about 16,000 stores with combined annual revenue of about $30 billion.

COMPETITIVE LANDSCAPE

Demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through depth of products and superior customer service. The US industry is highly concentrated: the 50 largest companies account for about 80% of revenue.

Competition for home furnishing stores includes department stores, mass merchandisers, home improvement stores, and online and mail-order retailers. Brick-and-mortar home furnishings stores are facing increasing competition from a proliferation of direct online merchants. Online-only retailers are gaining market share as consumers shift to buying home furnishings and housewares over the internet.

PRODUCTS, OPERATIONS & TECHNOLOGY

Major product categories are decorative accessories (more than 55% of sales), domestics (about 15%), and kitchenware (about 15%). Domestics are towels, sheets, blankets, and table linens. Decorative accessories include lamps, mirrors, pictures, clocks, and desk sets. Other products ...

 
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