Bed Bath and Beyond was the largest home goods retailer by market share prior to the pandemic, but it has been unable to keep up momentum.
That’s one of the findings of a study from market research and insights firm YipitData, which ranked the top 30 U.S. home goods players by market share (according to total revenue) in the second quarter of fiscal 2022.
Wayfair took the No. 1 spot, followed by Home Goods, Big Lots, Ikea and Bed Bath & Beyond. (See end of article for complete list of the top 30 retailers.)
The research shows that the monthly(April -June 2022) gross merchandise value for the top 10 home retailers overall has shrunk compared to last year, reflecting a noticeable decline in consumer spending on home goods. While overall home goods sales are well above where they were in early 2020, the data suggests a return to pre-pandemic levels, according to YipitData. (In its most recent second quarter, Wayfair’s revenue fell 14.9% to $3.3 billion as its active customer base declined 24.1%.)
Here are other key takeaways from the second edition of YipitData’s Home Goods Market Share Index: Pure Players.
- Bed Bath & Beyond (down 1.77pp), Ashley Furniture (down 1.07pp), Wayfair (down 1.04pp) and Overstock (down 1.02pp) saw the largest decreases in second-quarter market year-over-year. While Overstock and Wayfair experienced a huge boom in sales at the beginning of the pandemic, they have not been able to keep up as consumers increasingly return to in-store shopping.
- Wayfair continues to have the largest market share (14.41%) but is losing share as omnichannel retailers grow.
- Of the top five retailers who gained market share in the second quarter, the majority are considered high price point brands with average order value over $1,000:
1. La-Z-Boy (up 1.21pp)
2. Pottery Barn (up 1.03pp)
3. Restoration Hardware (up 0.80pp)
4. Arhaus (up 0.38pp)
5. Crate and Barrel/CB2 (+0.30 pp)
Here is YipitData’s list of the Top 30 Home Goods (Pure Play) Retailers:
3. Big Lots
5. Bed Bath & Beyond
6. Restoration Hardware
7. Ashley Furniture
8. Pottery Barn
10. At Home
11. West Elm
12. Crate & Barrel*
14. Living Spaces
15. Rooms To Go
16. Raymour & Flanigan
17. Nebraska Furniture Mart
18. Bob's Discount Furniture
19. Williams Sonoma
20. The Container Store
21. Pottery Barn Kids & Teens
24. Badcock Home Furniture
26. Ethan Allen
27. Room & Board
28. Furniture Row
30. Serena & Lily
* Crate & Barrel includes CB2 sales
Source: Transaction data
The quarterly index, compiled by YipitData's retail and e-commerce analysts, tracks trends and estimated sales using the company's alternative data solutions. It measures year-over-year growth and quarterly market share changes based on combined sales across digital and brick-and-mortar.