The market is sluggish, and the pressure on the college students of the American household products camp is huge

The market is sluggish, and the pressure on the college students of the American household products camp is huge

In the second quarter, the U.S. home furnishing retail industry still showed a year-on-year negative growth. Individual retailers increased their market share due to their strong competitiveness, but the situation of most retail companies deteriorated. YipitData, a market analysis agency, analyzed the sales of 30 major household goods specialty retailers in the United States in the second quarter and released the latest market share index. The market share index is only for specialty retailers of home goods and excludes general retailers such as Amazon, Target and Walmart.

Wayfair ranked first with a 17.8% market share. The home furnishing retailer, which uses online as its main channel, gained 2.5% of its market share.

HomeGoods ranked second with a year-on-year growth of 1.6% and a market share of 11.5%. IKEA, which ranked third, took up 8% of the market, up 0.8% year-on-year. The above top three home furnishing retailers combined accounted for 37.3% of the market share of home furnishing specialty stores.

Big Lots ranked fourth with 7.5%, a decrease of 0.5% year-on-year. Ranked fifth is La-Z-Boy, whose market share increased by 0.8% year-on-year to reach a share of 5.4%.

Although Bed Bath & Beyond and Overstock merged into one company, the statistics are still counted separately before the merger. The overall share of BBB is only 3%, a year-on-year decrease of 3 percentage points. Overstock fell 0.2 percentage points to 2.7 percent market share. Whether the two companies can achieve 1+1>2 after the merger has yet to be proved by practical results.

According to data from YipitData, U.S. home furnishing specialty retailers will begin to experience a sales recession in 2022, with a quarterly year-on-year decline ranging from -8% to -6%. The rate of decline in 2023 will increase, and the overall sales of household goods specialty stores in the second quarter will drop by as much as 11% year-on-year, showing that the industry is under unprecedented pressure.