*Crate & Barrel includes CB2 sales; Bed Bath & Beyond does not include subsidiaries Harmon Face Values + Buy Buy Baby
Does not include Amazon, Walmart, Target as this index is focused on the pure play retailers
Source: Transaction data
Published 2/14/23
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Key Takeaways
Quarterly Insights
Industry Performance
How is the industry fairing overall? The home market continues to shrink: total home goods GMV declined 6% in 4Q22 YoY.
Has demand for home furniture and goods maintained or is it tapering? 2022 has been a tough year for the home goods industry with every quarter posting negative YoY sale growth ranging between -7% to -6%.
4Q22 Spotlight
La-Z-Boy
Strong YoY GMV growth
La-Z-Boy has had record setting sales with GMV in Q4 2022 reaching almost $950 million and GMV growth at 47% YoY
Unlike the overall home goods market, La-Z-Boy has maintained positive sales growth for eight consecutive quarters.
Consumers 55+ driving GMV growth
56% of La-Z-Boy’s GMV in 2022 came from customers aged 65 years old and above. The age group with the second largest GMV share in 2022 were customers aged 55-64 years old with 24% GMV share. Altogether, consumers aged 55+ generated about 80% of La-Z-Boy’s GMV in 2022.
Despite fixed incomes sometimes limiting older consumers, those aged 55-64 and 65+ were the only two age groups that grew La-Z-Boy GMV in 2022.
About YipitData
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Index References