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2022 Home Goods Market Report
Dive into the 2022 market dynamics of home goods purists and multi-category mass retailers, looking at market share performance of top retailers, the effects of inflation on home goods spending, and the impact of third-party marketplaces to home goods brands.
The Impact of Small Businesses on Third Party Food Delivery
Small and medium sized businesses – classified as restaurants that did not rank in the top 400 by total order volume – made up 44% of the total third party market share in October 2022.
Electronics category wins Black Friday and Cyber Monday 2022
Amid inflation, average order values (AOV) for pure players in the home market have increased over the year.
Amazon sales are now equivalent to sales of top 30 pure players
Amazon alone matched the sales of all top 30 home goods pure players combined during the last holiday season.
Home goods category is a sales driver for Amazon Prime Day, but not for Target nor Walmart’s sales events
The electronics category generally only accounts for 10% of Target’s total sales, but jumped to 21.6% during the retailer’s latest Deals Day.
Why Pizza Hut needed third party delivery to stay competitive
The biggest players in the US pizza industry have invested in new third-party (3P) delivery partnerships in order to compete on digital and attract new customers.
Bed Bath and Beyond cedes home decor dominance to Wayfair
Last year, Bed Bath and Beyond and Wayfair competed for the largest GMV share of home decor. However, since 2022, Wayfair has maintained strong home decor sales whereas Bed Bath & Beyond home decor sales have fallen by more than a third.
Arhaus leads home goods pure players in 3Q22 GMV growth
In YipitData’s 3Q22 Home Goods Index: Pure Players, Arhaus had the largest YoY GMV growth amid top retailers at 60% in the third quarter.
Casual dining decelerates amid inflation
Casual dining has faced inflationary headwinds in 2022 and, in turn, has struggled.
Home Goods DTC Growth Slows Post Pandemic
While DTC retailers were able to capitalize on consumers shopping at home in the pandemic – with DTC sales growth peaking in early 2021 at 120% – the category has since slowed. In 2022, DTC sales growth is slower than non-DTC sales growth.
Electronics surpasses home category on Prime Day October 2022
While home drove the largest share of sales in Amazon’s July Prime Day, electronics surpassed home in the retailer’s October iteration of its sales event, owning 19% of total sales during the event.
Furniture sales grow at Costco
Despite rocky market conditions in 2022, wholesale club retailers have driven sustained YoY growth between 10% to 22% over the past 18 months. Costco leads the wholesale retailer pack, with both its online and offline sales outpacing peers BJ’s and Sam’s Club.