3Q24 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?
Has demand for home furniture and goods been maintained or is it tapering?
The home market continues to shrink with sales declining 5.3% in 3Q24 YoY, continuing a 11-quarter streak of negative sales growth.
3Q24 Spotlight
HomeGoods
HomeGoods merits a closer look, as it not only maintains one of the highest market shares in the category but also achieved the second-largest year-over-year market share growth in Q3.
HomeGoods sees sustained positive sales growth in 2024
HomeGoods maintained strong performance despite the broader industry downturn, marking its sixth consecutive quarter of positive year-over-year growth. Although growth slowed in Q2 and Q3 compared to Q1 2024, HomeGoods still increased its market share by 1.0 percentage points.
HomeGoods customer base grew in Q3
The expansion of its customer base has been a key driver of HomeGoods’ success in recent years. Although Q3 saw a slight slowdown compared to Q2, HomeGoods still achieved customer growth, with a 2.3% year-over-year increase in monthly distinct customers.
Increasing customer wallet share drives HomeGoods growth
HomeGoods’ growth in wallet share has been a key driver of its 2024 sales performance. In Q3 2024, the retailer increased its wallet share among customers by 0.4 percentage points year-over-year.
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Index References
