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Lowe鈥檚 projects flat to 1% comparable sales growth, while Home Depot forecasts a 1% increase. However, high interest rates and soaring home values have priced out many buyers and slowed demand for big-ticket items like furniture, appliances, and renovations. Companies that rely heavily on homebuying activity, like Wayfair, feel the squeeze. Trump is adding to the uncertainty.

There鈥檚 evidence the approach is working: Wayfair鈥檚 sales in Illinois grew over 15% faster than the US overall from the late May 2024 store launch through year-end. Beyond brand visibility, these locations give consumers the opportunity to touch and feel Wayfair鈥檚 products before making a purchase, a crucial advantage for high-ticket furniture and housewares.

High borrowing costs have also caused consumers to defer pricey home improvement projects like kitchen and bath remodels, creating a tough environment for home improvement retailers and those in other housing-adjacent categories such as furniture and appliances.

This deck provides an in-depth analysis of the home furnishings sector in ecommerce, including forecasts for sales growth, digital ad spending, and KPIs. It also highlights consumer shopping behaviors, spending trends, and the growing influence of social media.

High-income consumers are more likely to discover new brands or products in-store, but they typically make the final purchase online.

Existing home sales fell to the lowest level since 1995 last year: Conditions likely won鈥檛 improve much this year, which could spell trouble for housing-related retailers.

Gen Z鈥檚 complicated path to purchase leans heavily on digital platforms and channels. But offline resources still play a key role.

Retailers faced no shortage of challenges in the first half of the year as elevated interest rates, the lingering effects of inflation, and a loosening labor market weighed on consumer spending. In this report, we鈥檒l contextualize our coverage of retailers鈥� Q2 revenues across four key verticals: department stores, home, mass merchants, and off-price.

Gauging the influence of digital on the shopper's journey.

Lackluster demand for home improvement products drove hardware store wholesaler and brand True Value to file for Chapter 11 bankruptcy earlier this month. The company plans to sell substantially all of its operations to rival Do It Best. Esprit cited 鈥渨eak business and financial conditions鈥� and 鈥渦nsatisfactory operating results鈥� as reasons behind its filing for Chapter 7 bankruptcy in the US.

The number of US homes changing hands is incredibly low: That poses a challenge to housing-related retailers like Wayfair.

Health and personal care is the fastest-growing ecommerce category in the US, per our July 2024 forecast, with projected growth of 14.2% YoY this year. Furniture and home furnishings ranks toward the bottom, with a projected 4.5% growth this year. But brand accounts may still be performing strongly on TikTok due to the popularity of DIY content.