Furniture retail in the United States is a very important aspect for the country's economy. The global home goods industry refers to the manufacture, distribution and retail of home furniture, household decorative accessories, soft furnishings (draperies and curtains), appliances, cookware and gardening equipment. Recently, the industry has been gaining traction once again, as the workplace and home merge into one space for many.
reached an all-time high of about 141 billion U.S. dollars' worth of sales in 2022.
Home goods retail
With home office becoming a regular occurrence in consumers’ work lives, many have turned to home improvement and DIY projects. As people spend more time at home, the demand for home goods, ready-to-build furniture, and home improvement supplies has increased significantly. In 2023, sales by
home furnishing retailers reached 63.76 billion U.S. dollars, marking a new record within the industry.
Furniture giant Wayfair took the lion’s share in terms of sales in 2022, generating over 10 million U.S. dollars that year.
Furniture shopping behavior
On average, U.S.
consumers spent around 746 U.S. dollars on furniture in 2022. Amongst all furniture categories,
sofas and mattresses took the two leading positions in terms of what shoppers spent their money on, each having a share of over 30 percent. When choosing where to purchase their furniture from, U.S. shoppers shared that brand names highly affected their choices, with 55 percent finding
brand name furniture to be anywhere from moderately to extremely important.
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