Fast Fact: Post Great Recession, Furniture Retail Stores Showing Signs of Stabilization 

February 24, 2020  by Laurie Northington in Business Strategy, Industry   

Although the shakeout from the recession continued through 2019, the stores left standing (existing stores) are showing signs of some stabilization. The number of furniture stores increasing employees or with stable employment increased from 54.7% of the total existing stores at the beginning of 2007 to 70.9% by 2016.

The percent of existing furniture stores that closed was almost cut in half in 2016 versus 2007 –  6.6% closed (2016) compared to 12.8% (2007), while the percentage of existing home furnishings stores that closed by year end has decreased from 11.5% in 2007 to 7.7% in 2016.

For an in-depth look at the data, click here.