From Home Furnishing Business
Fast Fact: Consumer Spending Growth, Furniture Tops All Home Furnishings Categories
Consumer spending on furniture increased 7% last year, outpacing the growth of all other broad home furnishings goods categories with $114.6 billion in sales, according to data from the U.S. Bureau of Economic Analysis.
As of November 2018, spending on furniture is 13.7% higher than pre-recession amounts in 2007. Major household appliances is the second largest home furnishings spending category at $41.4 billion, followed by clocks, lamps, and lighting fixtures at $39 billion and televisions at $31.7 billion.
All home furnishings categories except for televisions exceeded 3% average annual growth from 2011 to 2016. By far, furniture and window coverings have shown the most consistent growth from 2011 to 2018.
For a complete look at all the Furniture and Home Furnishings categories, click here.