Ashley Furniture GMV declines as customer spending shifts towards Wayfair
Ashley Furniture GMV declines as customer spending shifts towards Wayfair. Data-backed consumer insights and market analysis from YipitData's research team.
In YipitData’s 4Q22 Home Goods Market Share Index, the home goods industry faced a challenging year in 2022, experiencing negative YoY sales growth every quarter, ranging between -7% to -5%. This trend is reflected in total home goods GMV, which declined 5% in 4Q22 YoY.
United States | Online + Offline Sales | October 2021 - December 2022
Ashley Furniture, a major player in the home goods industry, has been impacted significantly by these challenges, losing -1.1pp market share 4Q22 vs 4Q21. Share losses are driven by significant GMV declines for the fifth consecutive quarter, with a 24% YoY drop in Q422.
United States | Online + Offline | 1Q21 - 4Q22
The decline in sales can be attributed to a shift in customer spending away from Ashley and toward other retailers such as Wayfair, HomeGoods, and La-Z-Boy. Our data shows that Wayfair, in particular, has increased its wallet share of Ashley Furniture customers from 11% in Q421 to 13% in Q422.
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United States | Online + Offline Sales | 2021-2022
Source: Transaction Data
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