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Factoids offer brief snapshots of current topics pertinent to the Furniture industry based on our on-going research. Increase your grasp of current trends, consumer attitudes, and shifts within the industry through solid statistics and concise insight.

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The Fall and Slow Rise of Home Furnishing Retail Stores. A Shift in Furniture and Home Furnishings Retail Store Characteristics 2007 – 2012, 2012 – 2015

This is the first factoid in a series of five factoids detailing how hard Home Furnishings retail stores were hit across the country during the Recession. Newly released detailed geography data from the Economic Census conducted throughout 2012 shows that all types of Home Furnishing establishments closed a multitude of stores from 2007 to 2012. No area of the country was left unscathed.

As a whole the Furniture and Home Furnishings business lost 18 percent of its stores and data from the U.S. Department of Commerce, Bureau of Labor Statistics shows the number of employees falling 23.6 percent and average hourly earnings decreasing 0.9 percent. Since 2012, the total industry has seen another 3.6 percent loss in stores.  However both employment and hourly wages have improved, 6.1 percent and 9.3 percent respectively, signaling an ever-so-slow rebound.

Source: U.S. Department of Commerce, Bureau of Labor Statistics

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victor pedraz    8 years ago

To blame the retail store loss and slowdown solely on the 'recession' is not only naï is factually incorrect. The impact of 'online stores' and social media played the most important role during this period to change the landscape of a 'retail furniture store'.

[Trackback]    8 years ago

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FastFact: Home Furnishings Retail Stores Slow to Rise After Recession
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