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US Furniture Market
1. US FURNITURE MARKET
LITERATURE REVIEW
Assorted Facts, Statistics,
and Quick Conclusions
Deck Collected and
Prepared by George Sloane
2. SOME GENERAL FACTS AND STATS
. . .
Narrowly defined, the U.S. home furnishings store
industry includes about 15,000 stores with combined
annual revenue of about $27 billion.
More broadly defined, and according to the US Census
Bureau, there are approximately 87,000 establishments
with annual revenue of $120 million a year that employ
more than 500,000 employees.
The industry is extremely concentrated, with 50 of the
largest U.S. stores accounting for nearly 75% of the
industry revenue.
3. SOME TRENDS TO CONSIDER . . .
Home-based employees and office furniture-- The market for global home office
furniture is forecast to grow at a compound annual growth rate (CAGR) of 5.6% between
2014-2019
On-line shopping– On-line stores are becoming the fastest-growing channel at a CAGR of
16.6%. Many companies are putting more efforts towards their online retail stores, by
adding benefits for consumers who shop on-line such as free delivery and installation and
even same-day pick up.
More nomadic and smaller housing– Flows into urban dwellings, right-sizing, smaller
profile, more efficient and multifunctional pieces, and tiny home movements.
Green movement– Sustainable, recycled, reduced carbon footprint, and environmentally
friendly sourced materials
Interest in vintage and upcycled pieces– A combination of the green movement and
nostalgia
Outdoor living– More emphasis on outdoor living spaces and kitchens drive demand for
more refined furniture
Competition in mattresses, bedding, and sleep products– Increased interest and
competition in these markets, particularly from on-line providers and marketers
Custom or handmade– There is a move toward custom and handmade products
4. TOP 25 FURNITURE RETAIL MARKET
PLAYERS Rank Company Market HQ
1 Ashley Furniture Home Stores National Arcadia, WI
2 IKEA National Conshohocken, PA
3 Rooms to Go South Seffner, FL
4 Berkshire Hathaway Furniture Division National Omaha, NE
5 Williams-Sonoma National San Francisco, CA
6 American Signature Multi-Regional Columbus, OH
7 Raymour & Flanigan Multi-Regional Liverpool, NY
8 Pier 1 Imports National Fort Worth, TX
9 La-Z-Boy Furniture Galleries National Monroe, MI
10 Sleepy's Multi-Regional Hicksville, NY
11 Crate & Barrel National Northbrook, IL
12 Haverty's Multi-Regional Atlanta, GA
13 Ethan Allen National Danbury, CT
14 Bob's Discount Furniture Northeast Manchester, CT
15 Mattress Firm National Houston, TX
16 Art Van Midwest Warren, MI
17 Select Comfort National Minneapolis, MN
18 Badcock Home Furniture & More South Mulberry, FL
19 Slumberland Multi-Regional Little Canada, MN
20 RoomStore Multi-Regional Richmond, VA
21 Mathis Brothers Multi-Regional Oklahoma City, OK
22 Cost Plus World Market Multi-Regional Oakland, CA
23 Bassett Home Furnishings National Bassett, VA
24 The Sleep Train West Citrus Heights, CA
25 American Furniture Warehouse West Englewood, CO
25. SOME QUICK CONCLUSIONS . . .
The US home furnishings market is growing in revenues, and also
shows signs of consolidating
Econometric and demographic data favor stronger growth in
discretionary spending especially on home furnishings
The Millennial consumer cohort will continue to grow in size, scope,
and desire for home furnishings and will ultimately become a bigger
market than that of the Baby Boomers
On-line shopping continues to grow in acceptance, particularly with
younger consumers who are very accustomed to technology
26. THANK YOU . . . THIS CONCLUDES
THIS REVIEW
For More Information, Please Contact George Sloane at:
AnalyticDesignGuy.com website
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Gmail: gsloane.business@gmail.com
Phone: (203) 981-4488