YipitData Launches Home Goods Market Share Index, Shows Wayfair Market Share 2x Closest Competitors
NEW YORK† June 2, 2022 /PRNewswire/ — YipitData, the leading market research firm, today released the first edition of its Home Goods Market Share Indexa ranked list of the top 30 pure play brands and shopkeepers. The new quarterly index, compiled by YipitData’s retail and e-commerce analysts, tracks trends and estimated sales using the company’s trusted alternative data solutions. It measures year-over-year growth, market share, quarterly changes and represents online and offline sales within the US.
“Our goal for this index is to highlight industry trends using alternative data — including our own data sets — to better paint a picture of how the competition is stacking up,” said Ariane Turley, Sr. Research Analyst at YipitData. “Retailers, especially household goods, deserve to be watched, especially in the wake of the pandemic as shopping habits return to old patterns.”
YipitData’s Home Goods Market Share Index provides a current snapshot of the household goods retail landscape, showing winners and losers in an industry ravaged by market shifts and disruptions. The top 10 retailers according to GMV together accounted for more than 70% of the total GMV of the top 30 pure players in April 2020† However, as smaller players recapture more of the market, GMV’s share of the top 10 brands has steadily declined.
Home Goods Market Share Key Points:
- Wayfair leads the industry overall, with a market share of 16.7%. The e-commerce giant gained consumer momentum during the pandemic, but lost its pandemic gains in the home shopping market, with market share slipping to pre-pandemic levels.
- Wayfair has nearly 2x the market share of its closest competitors, HomeGoods and Bed Bath & Beyond.
- HomeGoods, part of The TJX Companies, Inc. shows an incredible comeback story. Its strong performance in 1Q2022 matches that of other discount stores in the household goods sector. HomeGoods saw the second largest percentage point increase in market share (+0.66 ppt), second only to Pottery Barn (+1.1 ppt).
- Average order frequency and customer retention rate declined from 1Q2021 to 1Q2022 for most of the top 10 retailers, which may reflect a decline in consumer demand for household items, industry challenges with supply chain disruption and/or a resurgence in smaller players like Ethan AllenArhaus and Room & Board claim more from the household goods market.
Top 30 Home Goods Pure Players:
- way fair
- Bed Bath & More
- HomeGoods
- IKEA
- big lot
- Pottery Barn*
- Ashley Furniture
- Restoration Hardware
- overstock
- La-Z-Boy
- Home
- Crate & Barrel*
- West Elma
- rooms to go
- Raymour & Flanigan
- living areas
- Nebraska Furniture Mart
- The container shop
- Williams Sonoma
- Bob’s Discount Furniture
- Badcock Furniture
- Haverty’s
- Ethan Allen
- Arhaus
- Room and Board
- Bassett Furniture
- furniture row
- Houzz
- CITY Furniture
- Mathis Brothers
* Crate and barrel including CB2
* Pottery Barn includes sales of Pottery Barn Kids & Teens
Index does not include Amazon, Walmart, Target as this index is aimed at the pure play retailers
Get in touch to dive deeper into the data and find out what’s driving these changes [email protected]† Starting this week, the index will be updated quarterly and is available on yipitdata.com/homegoodsindex†
About YipitData
YipitData is the industry’s most accurate and trusted source of alternative data. We provide useful insights to answer our customers’ most important questions by finding, cleaning, verifying and analyzing billions of alternative data points. By partnering with more than 400 institutional investors and Fortune 500 companies, we provide our clients with the data they need to make better investment decisions. For more information visit YipitData.com†
SOURCE YipitData