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.
Monthly GMV & YoY Growth, Top 30 Home Goods Pure Players
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.
GMV & YoY Growth, Ashley Furniture
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.
Wallet Share, Ashley Furniture customers
United States | Online + Offline Sales | 2021-2022
Source: Transaction Data
Interested in learning more about competitive market share and customer performance in the home goods industry? YipitData is the leading market research provider for home goods retailers, allowing you to closely monitor total market share, channel breakdowns (B&M v E-Commerce), and customer insights. Connect with an analyst to learn more.
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