Well-decorated: Competition from discount department stores and supercentres will threaten the industry

In the five years to 2018, the Home Furnishings Stores industry experienced constrained growth. This is because the recession, reduced consumer confidence, a fragile housing market and slowed consumer spending all moderated industry revenue growth. Moreover, operators have come under strong competitive pressure from large discount and online retailers, which further tempered industry revenue and profitability. Nonetheless, in the five years to 2023, retailers will benefit from accelerating economic growth, which will lead to improved consumer confidence and spending...read more.

Industry Statistics & Market Size
Revenue
$5bn
Annual Growth 13-18
2.8%
Forecast Growth 18-23
Profit
Employment
22,015
Businesses
3,967

Industry Threats & Opportunities

  • Industry operators have had to endure substantial external competition from department stores and supercentres
  • The industry experienced intense competition from large-scale discount department stores, supercentres and online retailers
  • External competitors are anticipated to continue to temper industry revenue growth
  • Industry Report - Industry SWOT Analysis Chapter

    The Home Furnishings Stores industry in Canada is in the mature stage of its life cycle. Over the 10 years to 2023, industry value added (IVA), a measure of an industry's contribution to the overall economy, is expected to increase at an annualized rate of 2.4%, compared with GDP growth of 1.9%. In general, because the industry sells a broad range of merchandise that consumers generally buy for their residence, performance is more closely linked with overall consumer spending levels, which typically move in line with the economy.Another indication that the industry is in the mature stage of its life cycle would be increasing consolidation. Str...purchase to read more.

    Additional Insights for the Home Furnishings Stores Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Home Furnishings Stores Industry are

  • Ability to control stock on hand
  • Proximity to key markets
  • Attractive product presentation
  • IBISWorld analysts also discuss how external factors such as Consumer Confidence Index and Consumer spending in the Home Furnishings Stores industry impact industry performance..

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    What's in this report

    What is the Home Furnishings Stores Industry?

    Operators in this industry retail a range of home furnishing goods, including curtains, draperies, blinds, shades, cookware, glassware, dinnerware and decorative accessories. Merchandise is purchased from domestic (and in some cases international) manufacturers and wholesalers and then sold to consumers. Retailers that primarily operate as home furniture stores, used merchandise stores, electronic shopping outlets or mail-order houses are not included in this industry.

    Industry Products
  • Kitchenware and home furnishings
  • Window coverings and textile goods
  • Furniture
  • Industry Activities
  • Retailing kitchenware
  • Retailing curtains, draperies, slipcovers, vertical and horizontal blinds
  • Retailing towels, sheets, blankets and table linens
  • Retailing decorative accessories
  • Retailing outdoor and patio furniture
  • Retailing small electric/personal care appliances
  • Retailing soft-surface floor covering
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Consumer Confidence Index
  • Consumer spending
  • Housing starts
  • Number of fixed broadband connections

  • Current Performance
  • Economic conditions
  • Intensifying competition
  • Chart: Revenue Growth

  • Industry Outlook
  • Demand and headwinds
  • Continued competition
  • Table: Home Furnishings Stores Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Home Furnishings Stores Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers in Canada

  • Key Selling Industries
  • Ceramics Manufacturing in Canada
  • Furniture & Furnishings Wholesaling in Canada
  • Glass Product Manufacturing in Canada
  • Textile Mills in Canada

  • Products & Services
  • Kitchenware and home furnishings
  • Other
  • Window coverings and textile goods
  • Furniture
  • Chart: Home Furnishings Stores Industry Products and Services Segmentation

  • Demand Determinants
  • Consumer confidence, per capita disposable income and consumer spending
  • Homeownership and housing starts

  • Major Markets
  • 40 to 54 years old
  • Younger than 30
  • 30 to 39 years old
  • 65 or older
  • 55 to 64 years old
  • Chart: Major Market Segmentation for the Home Furnishings Stores Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent, utilities, marketing and depreciation costsOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Home Furnishings Stores

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Home Furnishings Stores Industry

  • Industry Globalization
    HomeSense, Bed Bath and Beyond, Home Outfitters,
  • Table: HomeSense - financial performance
  • Table: Bed Bath and Beyond - financial performance
  • Table: Home Outfitters - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Home Furnishings Stores Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Home Furnishings Stores Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Consumer confidence index (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Big-Box Store
  • A retail store that is differentiated by its sheer size and large range of products, including electronics, household goods and other consumer products.
  • One-Stop-Shop Store
  • A retails store offering a large variety of merchandise from various categories.
  • Radio Frequency Identification (Rfid)
  • A technology that tracks products from the time they leave the assembly line to the time they leave the store by releasing continuous signals from a chip.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Home Furnishings Stores market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Home Furnishings Stores:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Home Furnishings Stores market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Home Furnishings Stores, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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