Matt Katz details how leading furniture retailers are thinking about industry stagnation in this Retail Dive article.
Home and furniture retailers such as Bed Bath & Beyond, Conn’s, Mitchell Gold Co., Pirch, True Value, The Container Store, Tuesday Morning and Z Gallerie filed for Chapter 11 bankruptcy. Consumer confidence has waned, new home builds are down and mortgage rates are hovering above 6.5%. Material costs have risen and tariffs could hike prices, especially on home furnishings imported from China.
As a result, many consumers are trading down, and value players are poised to take market share from higher price points. He explains, “some of the price-conscious players, like Ikea and others, will have an opportunity to steal share.”
