Originally published in the December 2012 print issue of Home Accents Today
The 2012 Universe Study breaks the home accent universe into seven product categories: Decorative Accessories, Accent Furniture, Lamps, Wall Decor, Area Rugs, Lighting Fixtures and Permanent Botanicals. Estimated 2012 total sales are provided for each product category, along with 2011 estimated sales by distribution channels. It's been two years since the last Home Accents Today Universe Study was published. And while the feeling that the U.S. economy is still seriously underperforming remains even now, the industry and our overall economy has come a great distance over the past two years.
All this economic improvement, happily, translates to improvement in the home accents business as well.
We estimate the 2012 Home Accents overall Universe to be $57.15 billion, an improvement of 4% over 2011. Drilling down into the home furnishings business with this year's Universe data, there are several trends worthy of note.
The channels of distribution most represented by the readership of Home Accents Today - namely the furniture stores, interior designers, direct-to-consumer and home accent/gift stores - were all among the strongest channels for overall sales this year - with each at or above the overall growth rate. HOW THE STUDY WAS COMPILED - Home Accents Today's editorial and research teams collaborated to estimate industry retail sales and distribution segments for the exclusive 2012 Universe Study using data from a wide variety of sources including: Personal Consumption Expenditure data from the U.S. Department of Commerce, Consumer Expenditure Survey data from the U.S. Census Bureau and Bureau of Labor Statistics, Retail trade figures from the U.S. Census Bureau's Census of Retail Trade, Import figures from the International Trade Commission, Public filings with the Securities and Exchange Commission, Home accent product data from EASI Demographics and sister publication Furniture/Today, Product and total sales data from the Home Accents Today 2012 Vendor Survey, Retail sales figures from sister publication Furniture/Today's Top 100 U.S. Furniture Stores ranking and Top 25 Furniture and Bedding Retailer ranking, Retail product figures from the Home Accents Today 2012 Retail Operations Survey, Newspaper and other reports on various retail markets and retailers, Conversations with retailers, vendors and industry analysts, Industry reports on the decorative accessory and gift market. Figures for 2010 have been revised based on new and updated information. All figures are retail sales figures. Figures do not include second-hand or used merchandise.
This material may not be published, broadcast, rewritten or redistributed in whole or part without the express written permission of Progressive Business Media.