The 32 leading furniture retailers in the 2022 Digital Commerce 360’s Top 1000 are projected to sell $20.65 billion online in 2022, down 9.5% from $22.80 billion in 2021. These 32 merchants include housewares retailers such as Wayfair Inc. (No. 7 in the Top 1000), Overstock.com Inc. (No. 33) and Ashley Furniture (No. 130).
Why will 2022 see slower online growth for furniture retailers?
This decline in growth represents the repercussions of the industry’s record growth of 55.2% in 2020. It’s likely that consumers spent their furniture dollars in 2020 after spending so much time indoors. Now that COVID-19 restrictions are largely lifted, consumers are not as focused on purchasing indoor furnishings.
In 2022, Digital Commerce 360 projects publicly traded furniture retailers in the Top 1000 will decrease web sales 14.3%, to a total of $15.26 billion. Additionally, Digital Commerce 360 projects that private furniture retailers in the Top 1000 will grow ecommerce sales 7.7% to $5.39 billion in 2022. This jump will bring them to a 26.1% onlinemarket share of furniture retailers in the Top 1000.
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