Major Consumer Home Furnishings Products: Distribution of Personal Consumption Expenditures 2000 Versus 2015 Q1 (annual rate)
Factoid #4 details the Furniture industry’s growth in share of the three major home furnishings product categories – Furniture, Major Household Appliances, and Televisions. Furniture has lost share over the last 15 years, slightly to Major Appliances, but sharply to the rapid innovation in Televisions
Furniture and Bedding continues to claim the largest share of the three home furnishings product categories at 56.2 percent but has lost six market share points, primarily to televisions. Since 2000, total personal consumption of furniture products has grown 33 percent (2015 Q1 annual rate) to $99.5 billion, just above the growth rate of appliances.
Appliances have also lost market share slightly to Televisions, falling from 24.8 percent to 22.3 percent between 2000 and 2015 Q1. In terms of growth, the $39.4 billion Major Appliance industry has the lowest rate of the three home furnishings categories at 32 percent.
Source: U.S. Department of Commerce, Bureau of Economic Analysis, “ Personal Consumption Expenditures”