2Q24 Home Goods Market Share Index: Pure Players
*Crate & Barrel does not include CB2 sales
**Bed Bath & Beyond pre-Overstock purchase is not included in this iteration of the Home Goods Market Share Index given that the retailer closed its doors on July 30, 2023. The Bed Bath & Beyond listed on this index includes GMV for Overstock.com pre-July 30, 2023, and for its rebranded website BedBathAndBeyond.com post-July 30.
Note: This index includes retailers that were not included in previous indices as YipitData has expanded its data coverage of home retailers.
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Key Takeaways
Industry Insights
Key Questions:
How is the industry fairing overall?
The home market continues to shrink with sales declining 2.4% in 2Q24 YoY, continuing a 10-quarter streak of negative sales growth.
Has demand for home furniture and goods been maintained or is it tapering?
Although the home goods market sales declined in 2Q 2024, the industry is showing glimmers of recovery with May experiencing positive sales growth of 1% YoY.
2Q24 Spotlight
Ashley Furniture & Ikea
Ashley Furniture sales growth recovers in
Q2 2024
Although La-Z-Boy bested Ashley in growing its market share in Q2 2024, La-Z-Boy was already doing well in the first half of 2023. The more noteworthy performance is Ashley Furniture. For this major furniture retailer, 2Q 2024 marked the end of a prolonged period of negative growth that began in early-2022.
In contrast, Ikea, which started 2023 with strong performance, saw its sales growth slow and eventually turn negative towards the end of 2023 and into 2024, culminating in a -12% YoY sales growth in 2Q 2024.
Ashley Furniture sees growth in customer base
Over the past three quarters, Ashley Furniture has been losing customers at a slower rate. In 2Q 2024, Ashley Furniture distinguished itself from its peers with a 2% YoY growth in monthly distinct customers, allowing it to regain some market share.
Despite its negative sales growth, Ikea also showed signs of reversing the decline in its customer base.
AOV at Ashley Furniture increases in Q2 2024
Ashley Furniture experienced a 2% increase in average order value (AOV) year-over-year in the second quarter of 2024. This growth contributed to the retailer’s market share gains during this period.
In contrast, Ikea's AOV dropped by 16% YOY, underscoring a significant factor behind Ikea’s performance in 2Q of 2024.
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