Originally printed in the September 2018 issue of HFN
The state of the home furnishings industry in 2017 was steady and solid, boosted by housing sales and disposable income but buffeted by constant retail change, particularly in the midmarket. Retail sales rose 2.7 percent to $198.24 billion last year, according to HFN’s annual State of the Industry report. But the industry faced headwinds, some of its own making. “There were a lot of promotions across retailers in 2017, which along with higher shipping costs and investments related to online sales led to lower profitability for most home furnishings retailers,” noted Cristina Fernandez, senior analyst at Telsey Advisory Group.
About the data
HFN’s exclusive State of the Industry report provides estimated 2017 and 2016 retail sales and distribution channel data for home furnishings, including the categories of housewares, tabletop, rugs, lighting, textiles, furniture and mattresses. All data is based on estimated U.S. retail sales figures. Figures for 2016 have been revised due to new information and all figures have been rounded. All data are HFN market research estimates.
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