Home Decor and Tabletop Channel Sales - US and Canada

Goals

To provide insights on the home decor and tabletop markets in the US and Canada including the size, growth rates, key players, and consumer trends in retail and online channels. Research will be used to inform how Indigo should leverage strategies for sales growth in these markets.

Early Findings

US HOME MARKET ONLINE CHANNEL

  • The US online home furnishing market in 2018 was worth $10 billion.
  • Sales in the online channel for the US online home furnishing market was projected to grow at a CAGR of 13.1% from 2013-2018.
  • Statista showed that market revenue for the overall homeware industry in the US will grow at a CAGR of 6% from 2019 to 2023.
  • Statista also reported that 21% of the US homeware market will be sold online by 2023.

US HOME MARKET ONLINE CHANNEL - PLAYERS

  • Statista listed the top online stores for the US homeware market below:
  • Home Depot had net sales of $4,715.1 million in 2018.
  • Wayfair had net sales of $3,812.3 million in 2018.
  • Amazon had net sales of $2,514 million in 2018.
  • Walmart had net sales of $2,200.1 million in 2018.
  • QVC had net sales of $1,101.8 million in 2018.

CANADA HOME MARKET - RETAIL CHANNEL

  • The in-store home furnishing market in Canada in 2018 was worth $5 billion.
  • Sales in the in-store channel for the Canada home furnishing market was projected to grow at a CAGR of 1% from 2014-2019.
  • Statista reported that market revenue for the overall furniture industry in Canada will grow at a CAGR of 1.3% from 2019 to 2023.
  • Furniture included homeware products such as bedroom furniture, plastic and other furniture, lamps and lighting, living room and dining room furniture, kitchen furniture, office furniture and floor covering.
  • Statista also reported that 11% of the Canada home furniture market will be sold online by 2023.

Proposed next steps:

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