How inflation has affected the home goods market
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How inflation has affected the home goods market. Data-backed consumer insights and market analysis from YipitData's research team.
The home goods category has been no stranger to the impacts of inflation
While pure players’ home goods sales decreased 10% YoY from October 2021 to October 2022, average order values (AOV) have been rising, suggesting price hikes. Supply chain issues that started early pandemic are still present today and – in concert with rising materials and labor costs – furniture prices are increasing.
More premium stores and furniture-focused stores had the largest increases in prices through 2022. Restoration Hardware and Ashley Furniture, for example, increased AOV 7% and 14% YoY, respectively.
United States, Online + Offline | January 2022 - October 2022
However, inflationary pricing and purchasing vary by subcategory.
Furniture prices have been consistently higher in every month of 2022 versus 2021 for both home goods pure players and multi-category retailers. Meanwhile, home decor pricing decreased in 2022.
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United States, Online | January 2022 - October 2022
Sources: Transaction data and email receipt data
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