U.S. furniture and bedding sales to exceed $123.9 billion! Which subcategories have the greatest potential?

According to a forecast by Furniture Today and Easy Analytic Software Inc. (EASI), furniture and bedding sales in the United States this year will reach $123.9 billion, a slight increase of 2.9% from $120.4 billion.

A variety of factors, including supply chain fluctuations, the housing market and the economic recession, have led to weak sales of furniture and bedding in the United States this year. Data shows that in 2021, sales of furniture and bedding in the United States increased by 20.8% year-on-year. The furniture sales boom in early 2021 was moderated by supply chain issues and continued into 2022.

On the other hand, inflation and fear of recession have suppressed Americans' spending on furniture and bedding. According to Mastercard SpendingPulse, total U.S. retail sales (excluding car dealers, gas stations and restaurants) rose slightly by 5.9% in November compared with the same period last year, among which consumers spent 3.1% less on home and furniture categories. Furniture Today emphasizes that this trend will continue tomorrow.

In addition, data released by the Conference Board (November 29) showed that its consumer confidence index fell to a four-month low of 100.2 in November from a revised 102.2 in October.

"The combination of inflation and rising interest rates will continue to challenge consumer confidence and economic growth until early 2023," said Lynn Franco, senior director of economic indicators at The Conference Board.

Furniture Today and EASI estimate that stationary sofas will replace mattresses and bedding as the fastest-growing category in 2022. In 2021, mattresses and bedding ranked first with sales of $19.5 billion. Following stationary sofas are desks, with sales expected to approach the $7 billion mark by 2025. Then there are categories such as baby furniture, antiques and quilts, which are also expected to grow faster than the average for the entire market.

Furniture Today and EASI also predict that U.S. furniture and bedding sales will grow at an annual rate of 18.8% over the next five years, reaching more than $147.2 billion by 2027.

Editor ✎ Nicole/

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