As home goods sales decline, Wayfair maintains significant market share
Friday, June 10, 2022
YipitData launches Home Goods Market Share Index, shows Wayfair market share 2x closest competitors
NEW YORK, June 2, 2022 /PRNewswire/ -- YipitData, the leading market research firm, today announced the first edition of its Home Goods Market Share Index, a ranked list of the top 30 pure play brands and retailers. The new quarterly index, compiled by YipitData's retail and ecommerce analysts, tracks trends and estimated sales using the company's trusted alternative data solutions. It measures year-over-year growth, market share, quarterly changes and represents online and offline sales within the US.
"Our goal for this index is to highlight trends in the industry using alternative data--including our proprietary datasets--to paint a better picture of how the competition is stacking up," said Ariane Turley, Sr. Research Analyst at YipitData. "The retail sector, specifically home goods, deserves to be watched especially in the wake of the pandemic as shopping habits revert to old patterns."
YipitData's Home Goods Market Share Index provides a current snapshot of the home goods retail landscape, showing winners and losers in an industry buffeted by market shifts and disruptions. The top 10 retailers by GMV collectively accounted for over 70% of total GMV from the top 30 pure players in April 2020. However, as smaller players recapture more of the market, the share of GMV from the top 10 brands has steadily declined.
-- Wayfair leads the sector overall, with 16.7% market share. The ecommerce
giant won over consumers during the pandemic but has been losing its
pandemic gains in the home retail market, with market share edging back
down to pre-pandemic levels.
-- Wayfair commands nearly 2x the market share of its closest competitors,
HomeGoods and Bed Bath & Beyond.
-- HomeGoods, part of The TJX Companies, Inc. shows an incredible comeback
story. Its strong performance in 1Q2022 is consistent with other
discount retailers in the home goods industry. HomeGoods saw the second
largest percentage point increase in market share (+0.66 ppt), second
only to Pottery Barn (+1.1 ppt).
-- Average Order Frequency and Customer Retention Rates have fallen for
most top 10 retailers from 1Q2021 to 1Q2022, which could be reflective
of a decline in consumer demand for home goods, industry challenges with
supply chain disruption, and/or a resurgence of smaller players like
Ethan Allen, Arhaus and Room & Board claiming more of the home goods
market.
1. Wayfair
2. Bed Bath & Beyond
3. HomeGoods
4. IKEA
5. Big Lots
6. Pottery Barn*
7. Ashley Furniture
8. Restoration Hardware
9. Overstock
10. La-Z-Boy
11. At Home
12. Crate & Barrel*
13. West Elm
14. Rooms To Go
15. Raymour & Flanigan
16. Living Spaces
17. Nebraska Furniture Mart
18. The Container Store
19. Williams Sonoma
20. Bob's Discount Furniture
21. Badcock Home Furniture
22. Haverty's
23. Ethan Allen
24. Arhaus
25. Room & Board
26. Bassett Furniture
27. Furniture Row
28. Houzz
29. CITY Furniture
30. Mathis Brothers
* Crate & Barrel includes CB2
* Pottery Barn includes Pottery Barn Kids & Teens sales
Index does not include Amazon, Walmart, Target as this index is focused on the pure play retailers
To dive deeper into the data and find out what's driving these changes, contact press@yipitdata.com. Starting this week, the index will be updated quarterly and is available at yipitdata.com/homegoodsindex.
YipitData is the industry's most accurate and trusted source of alternative data. We provide useful insights to answer our clients' key questions by sourcing, cleaning, verifying & analyzing billions of alternative data points. By partnering with over 400 institutional investors and Fortune 500 companies, we power our clients with the data they need to make better investment decisions. For more information, visit YipitData.com.
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SOURCE YipitData
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