Www.mediagrouponlineinc.com



Furniture Market 2017Furniture Retail Sits Comfortably in the BlackThe US Census Bureau reports total 2016 sales (adjusted) at “furniture and home furnishing stores” (NAICS Code 442) increased 3.2% to $110.008 billion, from 2015’s $106.643 billion, or less than half of the increase from 2014 to 2015 of 7.1%.During the first six months of 2017, total furniture sales were $56.966 billion, a 4.2% increase from 2016’s $54.660 billion. Furniture Today predicts U.S. furniture sales of $122 billion by 2020.According to Forbes, furniture stores are benefiting from U.S. consumers’ focus on improving their homes, both for personal enjoyment and to boost resale value. Building materials, flooring and wall covering stores have also parison of Furniture and Home Furnishings Store Sales, Quarterly 2015, 2016 and 2017Quarter20152016% Change2017% ChangeQ1$25.575 B$27.156 B+6.2%$28.254 B+4.0%Q2$26.723 B$27.504 B+2.9%$28.712 B+4.4%Q3$26.926 B$27.643 B+2.7%NANAQ4$27.237 B$27.705 B+1.7%NANAUS Census Bureau, September 2017Reinventing the Furniture StoreLarge furniture chains, such as Bob’s Discount Furniture, Levin Furniture and City Furniture, are moving into space that big box stores have vacated, such as hhgregg and Office Depot. Other companies, such as FFO Home are building new stores. Stores are adding entertainment areas for customers, such as City Furniture’s home accents store-within-a-store and a café and wine bar where it will host in-store events. FFO is planning an entertainment area for dads and kids to hang out.In FFO Home’s new stores, roughly one-third of the square footage has been designated for backend operations, so each store can make quicker deliveries and enable customers to take items easily home with them.U.S. Adults by Generation and Home Ownership, January 2017Age RangeAlready Own a HomeSomewhat or Very Likely to Buy a Home During 2017Younger Millennials (18–26)29%15%Older Millennials (27–36)29%20%Gen Xers (37–52)63%20%Baby Boomers (53–71)70%11%Silent Generation (72+)79%4%Bankrate (Money Pulse Survey), February 2017Top 100 Stores Showing Strong Sales PerformanceAccording to the May 2017 issue of Furniture Today, 2016 sales at the top 100 stores increased 7.2%, to $43.51 billion, and at the top 10 stores, +9.8%, to $23.3 billion. Units increased 13.3% for the top 100 furniture stores, and 22.9% for the top 10.Of the top 100 stores, 54% are conventional furniture stores and 46% are specialty stores. The top 100 stores expanded their retail footprint dramatically, adding 1,504 stores, the biggest increase since Furniture Today started tracking openings.The top 100 stores also experienced increases in average sales per square foot, $276, an increase of 2.2% from $270/sq. ft. during 10 Conventional Furniture Retailers, 2016Retailer2015 Sales2016 Sales% Change2015 Units 2016 Units#1: Ashley Furniture HomeStore$3.524 B$3.835 B+8.8%515558#2: Rooms To Go$2.200 B$2.350 B+6.8%134135#3: Berkshire Hathaway Furniture$1.833 B$2.003 B+9.3%3333#4: Raymour & Flanigan$1.177 B$1.307 B+11.0%111115#5: Bob’s Discount Furniture $1.009 B $1.158 B+14.8%64 76#6: American Signature$1.032 B$1.026 B-0.6%119117#7: Havertys$804.9 M$821.6 M+2.1%121124#8: Ethan Allen$719.2 M$758.7 M+5.5%195187#9: Art Van$675.0 M$740.0 M+9.6%98117#10: American Furniture Warehouse$595.6 M$640.0 M+7.5%1414 Furniture Today, May 2017Specialty Stores Growing Strong, Led by BeddingTotal 2016 sales for the top 100 specialty furniture stores increased 8%, compared to 6.4% for the top 100 conventional furniture stores. Specialty stores also outpaced conventional stores in units’ (number of stores) increase, 16.7% and 4.7%, respectively.The majority of the gain in units and sales was from a single transaction: Mattress Firm’s acquisition of Sleepy’s, and its 1,050 stores. MattressOne and Sleep Number also 10 Specialty Furniture Retailers, 2016Retailer2015 Sales 2016 Sales% Change2015 Units2016 Units#1: Mattress Firm$2.560 B $3.460 B+35.2%2,403 3,630#2: Ikea$3.075 B$3.200 B+4.1%4042#3: Williams-Sonoma$2.635 B$2.715 B+3.0%571583#4: RH (Restoration Hardware)$1.705 B$1.755 B+2.9%7991#5: Big Lots $1.300 B $1.365 B+5.0%1,449 1,432#6: Sleep Number $1.184 B $1.281 B+8.2%488540#7: Pier 1 Imports$1.303 B$1.260 B-3.3%953941#8: La-Z-Boy Furniture Galleries$1.115 B$1.134 B+1.7%299 310#9: Crate and Barrel$845.0 M$943.8 M+11.7%104106#10: Cost Plus World Market$405.0 M$408.0 M+0.7%276276 Furniture Today, May 2017Single-Source Stores’ Sales IncreasedFurniture Today defines single-source store networks as “company-owned, licensed or franchised stores dedicated to a single home furnishings brand, operating under a single retail banner.” The top 10 single-source store networks experienced a 6.9% sales increase during 2016, much closer to the 7.2% growth in the overall top 100 than the previous year’s gap. The top 100 single-source stores accounted for 15% of all US furniture store sales.Sleep Number had the biggest net-store gain, increasing by 52 stores. Combined, the networks added 103 stores for a total of 2,210 showrooms by the end of Single-Source Furniture Store Networks, 2016Retailer2015 Sales2016 Sales% Change2015 Units2016 Units#1: Ashley HomeStore$3.524 B$3.835 B+8.8%515558#2: Sleep Number$1.184 B$1.281 B+8.2%488540#3: La-Z-Boy Furniture Galleries$1.115 B$1.134 B+1.7%299310#4: Ethan Allen$719.2 M$758.7 M+5.5%195187#5: Bassett Home Furnishings$344.9 M$358.9 M+4.0%9290#6: America’s Mattress $165.4 M$167.4 M+1.2%299301#7: Mitchell Gold + Bob Williams$116.0 M$130.0 M+12.1%2528#8: Roche Bobois$71.4 M $80.4 M+12.7%2727#9: LOVESAC$75.0 M$76.0 M+1.3%5860#10: The Original Mattress FactoryNA$55.0 MNANA109Furniture Today, May 2017Digital Furniture Buying and BrowsingFurniture retail executives do not consider e-commerce a major threat because of high-ticket prices and consumers’ desire to see, touch and sit on furniture before purchase. Approximately 12% of all furniture and bedding sales were online during 2016.Furniture retailers, however, are investing in digital to help customers with pre-sale research, so they will visit stores with an idea of what to buy (webrooming). KPMG forecasts a 4.3% increase in online furniture purchases during 2017.Almost half (44.8%) of Restoration Hardware’s sales was from e-commerce, as of May 2017, with e-commerce sales accounting for 19.8% of Pier 1 Imports’ sales revenue.Percent of Search Clicks for Furniture to Major Websites, 2016 to 2017WebsiteMay 2016May 2017Wayfair5.91%6.51%Amazon4.54%6.09%Overstock4.28%4.80%Soft Surroundings1.45%1.91%The Home Depot1.47%1.88%Hitwise, June 2017 Additional AnalysisThe following table presents data from The Media Audit’s 45-Market Report (released September 2017), representing more than 93.7 million adults 18+. It shows who shopped at which furniture stores by ethnicity and percentage and index. Of course, not all stores have locations in every market, including yours.Shopped at Furniture Store, by Ethnicity, 2017StoreCaucasian AmericansAfrican AmericansLatino AmericansAsian AmericansTarget Percentage61.9%11.2%17.9%6.7%Total Target Persons57,991,97710,472,43816,759,9876,287,715PercentIndexPercentIndexPercentIndexPercentIndexInternet/Online0.8%1060.4%530.8%950.8%103Amazon1.6%961.7%1011.6%982.5%146American Signature Furniture0.5%1030.7%1410.4%890.2%48Ashley Furniture Homestore5.4%1006.9%1275.0%924.7%86Badcock Home Furniture0.3%841.0%2790.3%80*7Bassett Furniture Direct0.3%1180.1%490.2%890.1%39Bed Bath & Beyond0.2%580.3%980.5%1770.8%275Big Lots2.5%1073.6%1521.7%721.1%45Costco Wholesale2.8%860.8%234.2%1319.0%278Crate & Barrel0.5%1250.2%470.2%450.4%112Ethan Allen Home Interiors1.1%1170.7%770.4%480.8%89Fred Meyer0.2%134*29*310.2%115Havertys Furniture1.2%1400.6%640.2%240.1%16Ikea5.2%753.6%5210.9%15917.6%255JC Penney1.2%1001.5%1211.3%1060.8%66K-Mart0.3%770.2%551.0%2380.2%36Kohl’s0.2%680.2%720.4%1411.0%372La-Z-Boy Furniture Galleries2.1%1330.8%520.6%370.7%45Macy’s4.6%973.2%694.9%1058.4%178Military exchange0.1%1170.1%70*280.2%163Mor Furniture for Less0.5%1020.2%430.7%1380.4%80Oak Express*139***32*91Pier 1 Imports0.4%1020.4%980.2%600.7%178Pottery Barn0.7%132*30.2%460.6%108Raymour & Flanigan Furniture1.0%1450.3%350.1%120.1%19Rooms to Go2.3%844.8%1713.8%1361.5%54Sam’s Club1.5%1021.7%1141.3%871.5%102Sears4.3%865.4%1097.0%1425.1%103Sofa Mart*122*123*17**Target2.0%791.4%555.2%1993.1%118Thomasville Home Furnishings0.2%1190.1%400.1%870.1%53Value City Furniture2.1%946.5%2850.8%340.8%37Walmart3.7%786.0%1258.0%1674.6%96Based on The Media Audit’s 45-Market Survey, September 2017* insufficient dataSources: US Census Bureau Website, 9/17; Forbes Magazine Website, 9/17; Furniture Today Website, 9/17; Hitwise Website, 9/17; Bankrate Website, 9/17; KPMG Website, 9/17; eMarketer Website, 9/17; The Media Audit, 9/17.Updated: September 2017? 2017 Media Group Online, Inc. All rights reserved. ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download