Table of Contents
Executive Summary
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- Overview
- The issues
- Home furnishings retailers are not the most shopped for décor
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- Figure 1: Retailers shopped, April 2018
- Interest in brand names and expert consultation is low
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- Figure 2: Attitudes toward home décor, April 2018
- The opportunities
- Decor shoppers don’t need a specific reason to buy
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- Figure 3: Reasons for buying home décor, April 2018
- Appealing to consumers throughout various living stages
- What it means
The Market – What You Need to Know
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- A healthy outlook
- Optimistic market factors and diverse needs support positive sales
Market Size and Forecast
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- Positive, consistent growth expected to continue
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- Figure 4: Total US retail sales fan chart forecast of home decor, at current prices, 2013-23
- Figure 5: Total US retail sales of home décor, at current prices, 2013-23
Market Factors
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- Various life stages could result in diversified living situations
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- Figure 6: Households, by detailed type, 2017
- Home ownership remains consistent, indicating optimism for the category
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- Figure 7: Homeownership Rates for the United States: 2014 to 2018
- Figure 8: Number of households, by race and Hispanic origin of householder, 2007 and 2017
- College enrollment is on the rise, representing new opportunities for retailers
- Increased connectivity could encourage more online shopping
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- Figure 9: Devices used to access the internet, December 2017
Key Players – What You Need to Know
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- Stylish and affordable décor collections keep shoppers coming back
- Consumers shy away from traditional décor stores
- Changing where, how and why consumers purchase home decor
What’s Working?
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- The top sought styles
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- Figure 10: TURF analysis – Styles, April 2018
- New collections and expansions could keep shoppers frequenting certain channels
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- Figure 11: Target Hearth & Hand email campaign, November 2017
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- Figure 12: Target Opalhouse email campaign, April 2018
- Figure 13: At Home direct mail, March 2018
What’s Struggling?
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- Traditional home furnishing retailers are no longer favorites
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- Figure 14: Retailers shopped, April 2018
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- Figure 15: CB2 x Fred Segal email campaign, May 2018
What’s Next?
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- Other channels and retailers explore entry into the category
- Giving shoppers new reasons to shop and treat themselves
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- Figure 16: Wayfair Way Day email campaign, April 2018
- Next-level decorating
- Evolving the online shopping experience
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- Figure 17: Attitudes toward home décor shopping – Cluster analysis, April 2018
- Evolving with consumers’ living situations
The Consumer – What You Need to Know
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- Consumers are making a variety of purchases, with many outside of traditional retailers
- Consumers look to peers and retailers for inspiration, with a focus on classic and modern styles
- Shoppers are buying to refresh, replace and reward
- Most consumers see the importance of home style
Items Purchased
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- Accent items are top purchases
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- Figure 18: Items purchased, April 2018
- Young adults look to elevate their spaces with small purchases
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- Figure 19: Items purchased, by select demographics, April 2018
- Single women demonstrate enthusiasm for décor across categories
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- Figure 20: Items purchased, by gender and marital status, April 2018
- Parents are top purchasers of seasonal decor
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- Figure 21: Items purchased, by parental status by gender, April 2018
Retailers Shopped
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- Value-based retailers are most shopped
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- Figure 22: Retailers shopped, April 2018
- Younger shoppers head to mass, while older consumers seek tradition
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- Figure 23: Retailers shopped, by generation, April 2018
- Men are shopping for décor online
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- Figure 24: Retailers shopped, by select demographics, April 2018
- Black and Hispanic shoppers seek value
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- Figure 25: Retailers shopped, by race and Hispanic origin, April 2018
Influence and Inspiration
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- Peers, retailers and traditional media are most influential
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- Figure 26: Influence and inspiration, April 2018
- Men turn to peers, while women look to retailers for inspiration
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- Figure 27: Influence and inspiration, by gender, April 2018
- Traditional media inspires older shoppers while younger generations influenced by emerging media
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- Figure 28: Influence and inspiration, by generation, April 2018
- Hispanic shoppers find inspiration in many places
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- Figure 29: Influence and inspiration, by Hispanic origin, April 2018
Style
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- Shoppers’ style split between classic and modern
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- Figure 30: Style, April 2018
- Figure 31: Target e-mail campaign, May 2018
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- Figure 32: Walmart e-mail campaign, May 2018
- Figure 33: Marshalls e-mail campaign, July 2017
- Figure 34: Wayfair e-mail campaign, May 2018
- Young men show interest in a variety of styles
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- Figure 35: Style, by gender and age, April 2018
- Location and living situation could influence style preferences
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- Figure 36: Style, by area and housing situation, April 2018
- Hispanics seek modern styles, Black shoppers prefer a variety
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- Figure 37: Style, by race and Hispanic origin, April 2018
Reasons for Buying Home Decor
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- Refreshes, rewards and replacements are top reasons for purchase
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- Figure 38: Reasons for buying home décor, April 2018
- Women reward, men replace
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- Figure 39: Reasons for buying home décor, by gender and age, April 2018
- Young renters have more reasons to buy
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- Figure 40: Reasons for buying home décor, by select demographics, April 2018
- Multicultural shoppers more impulsive than others
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- Figure 41: Reasons for buying home décor, by race and Hispanic origin, April 2018
Attitudes toward Home Décor Shopping
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- The home is a reflection of one’s style, and most are willing to invest in quality
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- Figure 42: Attitudes toward home décor shopping – Net any agree, April 2018
- Hispanics consumers prioritize their home style and are willing to invest
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- Figure 43: Attitudes toward home décor, by Hispanic origin, April 2018
- Most consumers’ attitudes either practical, concerned with quality or enthusiastic
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- Figure 44: Cluster analysis – attitudes toward home décor, April 2018
- Figure 45: Cluster analysis – Attitudes toward home décor, April 2018
- Practical Purchasers
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- Figure 46: Profile of practical purchasers, April 2018
- Quality Concerned Shoppers
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- Figure 47: Profile of quality concerned shoppers, April 2018
- Modern and Trendy Enthusiasts
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- Figure 48: Profile of modern and trendy enthusiasts, April 2018
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Fan chart forecast
- Consumer survey data
- Direct marketing creative
- Abbreviations
- Terms
Appendix – The Market
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- Figure 49: Total US retail sales of home décor, at inflation-adjusted prices, 2013-23
- Figure 50: Number of households, by area of residence, 2007 and 2017
- Figure 51: Single-person households, 2007-17
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Appendix – The Consumer
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- Figure 52: Repertoire of shopping for home décor, by select demographics, April 2018
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- Figure 53: Retailers Shopped, in-store versus online, April 2018
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