Ashley Furniture GMV declines as customer spending shifts towards Wayfair

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.

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.

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.

Source: Transaction Data