Industry Growth by Quarter 20120Q3

June 11, 2021  by Laurie Northington in General   

The furniture industry limped through the second quarter following the devasting impact of retail store closures in April due to the COVID-19 pandemic. However, pent-up demand along with Federal stimulus dollars fueled a third quarter rebound. Sales in Q3 this year totaled $34.99 billion, an increase of 14.1% over the second quarter of last year and 19.2% over Q2 of this year. Third quarter year-to-date furniture and bedding sales totaled $93.56 billion, a 5.6% increase over the first three quarters of 2019.

Furniture sales, excluding bedding, reached $30.24 billion in the third quarter, up 14.3% compared to Q3 2019 and 15.8% versus the previous second quarter this year. Third quarter year-to-date, furniture sales are up 6.2% over the same period in 2019.

Bedding sales, already slumping in 2019, tumbled in the second quarter of 2020, but recovered in the third quarter increasing 12.5% over the third quarter of last year to $4.75 billion. Compared to the hard-hit second quarter during the pandemic, Bedding jumped over 40%. Third quarter year-to-date Bedding sales are up 1.8% to $12.38 billion.

 

Furniture and Bedding sales increased 14.1% in Q3 this year versus the third quarter of last year.  Compared to Q2 of 2020 when the pandemic took its toll, the industry grew 19.2%. Third quarter sales totaled to $34.99 billion, and year-to-date were up 5.6%.

Year-to-date, the third quarter of this year is up 5.6% over the same nine months of 2019. Industry sales through Q3 totaled $93.56 billion.

Source:  Impact Consulting Services, Inc. Furniturecore.com industry model
Note: Previous 2020 Q1 and Q2 estimates have been revised.