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          1. Home Furnishings Stores Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 8/24/2020
            SIC Codes: 5714, 5719
            NAICS Codes: 44229
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Home Furnishings Stores Industry Profile

            Companies in this industry sell new home furnishings, such as decorative items, kitchen and bath products, linens, and window treatments from physical retail locations. Major US companies include At Home, Bed Bath & Beyond, Pier 1 Imports, RH (formerly Restoration Hardware), and Williams-Sonoma.

            The global market for home furnishings, including furniture, household textiles, and floor coverings, is forecast to grow at a compound annual rate of about 6% through 2021, according to market research firm Technavio.

            The US home furnishings store industry includes about 16,000 stores with combined annual revenue of about $32 billion.

            COMPETITIVE LANDSCAPE

            Demand is driven by consumer income. Large companies compete through volume purchasing, breadth of products, and effective merchandising and marketing. Small companies focus on a market segment and compete through depth of products and superior customer service. The US industry is highly concentrated: the 50 largest companies account for about 80% of revenue.

            Competition for home furnishing stores includes department stores, mass merchandisers, home improvement stores, and online and mail-order retailers. Brick-and-mortar home furnishings stores are facing increasing competition from a proliferation of direct online merchants. Online-only retailers are gaining market share as consumers shift to buying home furnishings and housewares over the internet.

            PRODUCTS, OPERATIONS & TECHNOLOGY

            Major product categories are decorative accessories (25% of sales), domestics (15%), and kitchenware (15%). Domestics are towels, sheets, blankets, and table linens. Decorative accessories include lamps, mirrors, pictures, clocks, and desk sets. Other products ...

             
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