Luxury Merchandisers, Arhaus, Gain Most Shares in Home Goods Market in Third Quarter

October 25, 2022  by HFBusiness Staff in Business Strategy, Industry   

The quarterly index tracks trends and estimated sales using the company’s alternative data solutions. It measures year-over-year growth and quarterly market share changes based on combined sales across digital and brick-and-mortar.

"The online home goods industry, in particular, saw a massive boom during peak pandemic as consumers stayed – and shopped – at home," explains Dan Pellegrinelli, YipitData's VP of research.

"However, our research shows that, overall, industry growth is slowing. Lower-income consumers continue to curb spending, contributing to share loss for stores such as Bed Bath & Beyond and Bob's Discount Furniture."

General home merchandisers like Bed Bath & Beyond, Ashley Furniture and Overstock lost the greatest share of a declining market in the third quarter of 2022, while more luxury players like Arhaus, Pottery Barn, and West Elm gained share.

Key takeaways from YipItData’s analysis are that Wayfair continue to have the largest share of the home goods market with a slight increase (0.23pp) in year-over-year market share.

Additionally, Arhaus has had incredible success in the third quarter of 2022, with market share almost doubling year-over-year. It is now ranged 17^th – up five spots from last quarter, the most of any brand.

Bed Bath & Beyond continues to suffer from declining market share. It had the largest decline in year-over-year market share (-2.02 pp) among the top 30 retailers in the third quarter. Bob's Discount Furniture also fell in the rankings, dropping 5 spots to 23rd.

This index will be updated quarterly, and is available at  yipitdata.com/3q22-home-goods-index.