As home goods sales decline, Wayfair maintains significant market share

YipitData, the leading market research firm has 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.

Home Goods Market Share Key Takeaways:

• 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.

Top 30 Home Goods Pure Players:

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