Passing along the 16th volume of our work on furniture.
Open Report:Bespoke – Home Furnishings Vol 16
- Recent renovation/remodeling activity and expected renovation/remodeling in the next few months are at all time highs (survey started in 2016).
- Recent furniture purchase engagement is slightly improved q/q and y/y. Planned furniture purchases are up q/q and y/y.
- Online is gaining share of recent purchases and of future purchase preferences.
- As was the case in our online retailers survey from last month, Wayfair is testing well and is gaining share sequentially.
- Opinion of Restoration Hardware remains strong/positive, but likelihood of including the retailer in their search if they needed furniture today has dropped a bit sequentially.
- The top reason why consumers would not shop restoration hardware remains that it is too expensive.