By Joanne Friedrick, Research Editor
HIGHLIGHT – The 2020 e-commerce market has shown no signs of slowing down, especially in a year that included a pandemic that barred people from accessing physical stores and caused them to seek out a plethora of home furniture via online sources.
While Furniture Today estimated that 14% of furniture and bedding sales in 2019 will come from online channels, the reality is that this number is likely to increase significantly for 2020 and beyond given the resurgence of the e-commerce channel. global.
According to the analysis of US Department of Commerce data by Digital Commerce 360, online sales as a percentage of all retail spending increased from 15.8% in 2019 to 19.6% in 2020, an increase about 24%. In dollars, that translates to $ 791.7 billion in online sales out of a total of just over $ 4 trillion. Since 2010, the share of online sales has increased by 206%.
Retail giants such as Amazon.com, which saw their business grow by more than 37% in 2020, and Wayfair, a major online furniture player that has seen an even greater increase in its sales. sales, have helped advance online sales. 55% to $ 14.1 million in 2020 against $ 9.1 million in 2019.
Together, the two accounted for nearly 60% of furniture and bedding sales, according to estimates from Furniture Today Strategic Insights.
Meanwhile, two other major online pure-play online retailers also saw a sharp increase in sales: Overstock sales in 2020 were up just under 67% and Zulily by around 7%.
The rest of Furniture Today’s list of major online retailers include well-known outlets with major furniture offerings such as One Kings Lane, Gilt, Rue La La, and Article, as well as several direct-to-consumer sellers who are carve a niche. for themselves with bespoke and boutique-style furniture offerings.
New on this year’s list is Joybird.com, an e-commerce subsidiary of La-Z-Boy, which the company acquired in 2018, which manufactures upholstered parts, and imports and sells case items.
While the report focuses only on online furniture retailers, a second report, to be released on September 27, will highlight the top bedding retailers on the internet.