| Mar 3, 2014 |
Home furnishings product sales reach $46 billion
Boh staff
By Staff

“Consumers are spending more on their homes, from adding items to spruce up the appearance, to upgrading with better quality, performance, or convenience in mind,” said Debra Mednick, executive director and home industry analyst, The NPD Group, Inc.

The Group released a new study showing that U.S. sales of home-related products including home fashions and textiles, non-electric housewares and small appliances reached $46 billion in 2013, a 3% percent increase from the previous year.

The bed segment drove home fashions and textiles sales by 2% since 2012, accounting for almost 60% of industry dollars. However, it wasn’t only the average home fashions spend that increased in 2013, but the number of items purchased.

There was a noticeable shift in channel share as online sales grew a dramatic 24% at the expense of brick and mortar retailers, which experienced a sales decline. Despite the increase, online sales of home fashions were just 14% of total dollars in 2013.

“As more alternative, flash site type sellers expand their presence in home fashions, I expect online to continue its upward trajectory,” said Mednick. “However, with the current focus on accessorizing and the absence of newness, the overall industry is likely to expand just modestly. Whether it is new, innovative, or touches on some other sweet spot, communicating the end benefit to the consumer is more important than ever before in the home products industry.”

The star of non-electric housewares products in 2013 was cookware, which saw sales increase 3% to $2.1 billion. However, the tabletop spotlight was on dinnerware, as the average spend has increased over last two years. Overall, online sales brought in 17% of non-electric housewares dollars in 2013, and grew 16% from the previous year.

The majority of growth however came within the small appliance sector. All three major segments within the small appliance industry experienced dollar growth in 2013. Blender/mixer/chopper systems, specialty stylers, juice extractors, espresso makers and bare floor cleaners are among the strongest performing categories.

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