First-of-its-kind industry solution tracks sales, share of wallet, and buyer cross-shopping behaviors across hard-to-measure channels, such as direct-to-consumer and digital natives
CHICAGO — Sept. 23, 2024 — Circana™, a leading advisor on the complexity of consumer behavior, today launched U.S. furniture market tracking based on its Checkout receipt-based information, marking the first solution of its kind to explore the furniture buyer and how they interact across the industry landscape. Circana’s furniture market tracking covers both in-store and online sales across the U.S., leveraging the largest receipt omnipanel for general merchandise with 150,000 active participants and more than 100 retailers.
“At Circana, we’ve listened closely to the challenges our clients face in navigating today’s complex retail landscape,” said Lora Morsovillo, president, Home Durables Practice at Circana. “From gaining visibility into high-end consumers to understanding shifts between retailers and categories, we understand the pressing need to expand our coverage in this important industry. Circana’s new view into the furniture market directly addresses these concerns, offering an unparalleled view of the market that brings together industry-wide data, combining retailer-specific insights and detailed buyer analytics. This isn’t just about tracking sales—it’s about empowering our clients to make informed, strategic decisions that drive growth and ensure they stay ahead in a competitive environment.”
Circana now captures $32.1 billion in annual furniture sales, covering room-by-room retail activity of interior household furniture in more than 20 categories across bedroom and mattresses, home office, living room, and kitchen and dining. Through a breadth of information about the demographic profile of the consumer, and where and how purchases are made, brands and retailers can engage detailed analysis on buyer analytics, consumer sentiment, and usage patterns, as well as explore client-specific segmentation. This allows them to identify winning demographic groups and sales growth levers.
“Furniture represents a major investment for consumers, serving as both a reflection of personal style and a key contributor to daily comfort and a home’s overall ambiance,” said Joe Derochowski, home industry advisor at Circana. “The process of purchasing furniture typically involves thoughtful consideration and research. For retailers and manufacturers in the furniture industry, understanding trends, such as shifting consumer demographics and the balance between online and in-person shopping, is essential to effectively reach and engage their target audience.”
