Blog Posts, Indoor and Outdoor Furniture

Who is winning in the US Furniture Market?

February 25, 2022
Admin Administrator 4 mins read
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Recliners, sofas, tables, dressers, desks—these are the pieces that make life at home more convenient and comfortable. As of 2020, the average consumer spent roughly $534 annually on furniture, a price that has been steadily rising for more than a decade. But where are people buying furniture, and which brands do they prefer? Here is a quick look at some of the furniture market trends at the 4Q end for December 2021.

A Look at the Top Stores in the Furniture Market

At the 4Q end for December 2021, the top retailer for furniture by dollar share was Ashley Furniture at 11.5 percent. However, by unit share, Amazon had an overwhelming lead among the top furniture outlets with 17.6 percent of the unit share in the furniture market. Both Ashley Furniture and Amazon have experienced gains since the 4Q end for December 2020, while outlets such as Walmart and Wayfair have declined significantly year over year (YoY).

How many stores do customers visit before purchasing?

Across the industry, most buyers shopped at only one store before they made a furniture purchase. This was especially true for customers who shopped at Ikea. Only about a quarter of shoppers visited at least two stores before making a purchase, while a higher percentage of those who bought from Wayfair had been to three stores.

A Look at the Top Brands in the Furniture Market

Right in line with the top stores, the top brand in the furniture market by dollar shares was Ashley Furniture with 16.2 percent. Ashley Furniture also held the highest number of unit shares in terms of units sold. The Wayfair brand has experienced consistent gains in dollar share for the last several years but had a dip in brand dollar share between 2020 and 2021. Ikea experienced a significant gain in unit shares between December 2020 and 2021 after experiencing YoY losses between 2014 and 2019.

How many brands do customers consider before purchasing?

Regardless of the brand, the majority of buyers seem to know which brand of furniture they want before they shop. Around 81 percent of buyers considered only one brand, while 19 percent considered two brands or more. Oddly enough, most buyers who purchased the Mainstays brand of furniture shopped for only one brand, while just over half who shopped at Wayfair considered only one brand.

Regional Differences in the US Furniture Market

There are a few regional differences in the furniture market when it comes to where people buy their pieces. For example, Ikea held a higher percentage of the market in the West, second only to Amazon. Shoppers in the Northeast were most likely to buy from either Amazon or Wayfair. Target held the least share of the market in all regions.

Other Noteworthy Buyer Behaviors and Demographics

Check out a few other interesting bits of information about buyer behaviors in the furniture market:

  • Why do people buy furniture to start with? – Most buyers are simply buying replacements
  • Why choose a certain furniture store? – Competitive price, especially Wayfair shoppers
  • Furniture pieces or sets? – Most buyers purchase furniture by the piece vs. as a collection
  • Online vs in-store? Almost as many buyers purchased furniture online as in-store

Want a More Comprehensive Look at the US Furniture Market?

For many years, certain brands and outlets have dominated the furniture market. Brands such as Ikea, La-Z-Boy, and Ashley Furniture remain stable in today’s market, but other key players in the industry are giving some of those big names in furniture a run for their money. These changes could be related to the fact that almost as many buyers are shopping online for furniture these days as in-store.

Want a closer look at the entire TraQline furniture market analysis? Be sure to check out our infographic.

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