Black background slide showing 1Q23 Home Goods Market Share Index with title, 'Pure Players' subheading, and three statistics in white text: 15.4% with the note 'Wayfair holds on to largest share, up 0.8pp YoY,' 1.8pp with the note 'La-Z-Boy sees greatest YoY increase in market share,' and -53.2% with the note 'Bed Bath & Beyond 1Q GMV down YoY' in blue.
Market share table with furniture stores and their updated market percentages for 1Q23, showing ranking, market share, and changes from 1Q22.

*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 4/20/23

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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 9% in 1Q23 YoY.

Has demand for home furniture and goods maintained or is it tapering? 2022 was a tough year for the home goods industry with every quarter posting negative YoY sales growth ranging between -8% to -5%. 2023 continued that trend, with GMV growth declining even further.

Bar and line graph showing Monthly GMV and YoY Growth of top 30 home goods pure players in the US from January 2022 to March 2023. The bar represents GMV in dollars, and the line indicates YoY growth percentage.

1Q23 Spotlight

IKEA

Positive GMV growth

IKEA’s sales growth climbed to improve 21pp over the course of 2022 from -11% sales in 1Q 2022 to 10% in 4Q 2022.

IKEA continued to have positive sales growth in 1Q 2023, with sales increase of 9% YoY.

Bar and line chart showing monthly GMV and YoY growth for IKEA in the US from Q1 2021 to Q1 2023, with GMV values ranging from $200 million to $1.6 billion.

AOV growth outpacing home goods industry

For the past 13 months, AOV among IKEA shoppers has grown faster than AOV for the home goods industry overall.

In 2022, IKEA’s AOV increased as much as 22% YoY whereas AOV grew only 3% YoY in the same month. IKEA’s AOV growth continues to exceed the home goods industry in 1Q 2023.

Line graph showing AOV growth from January 2022 to March 2023 for the Home Goods Market and IKEA, with IKEA's growth generally higher and more variable.

About YipitData

YipitData is a trusted data partner for over 480 of the world’s largest investment funds and companies. We give retailers & brands accurate and granular market share insights across channels and categories, helping them identify opportunities to outperform.

Index References

4Q 2022

3Q 2022

2Q 2022