Furniture retailers see decline in sales, layoffs since height of COVID boom

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16/09/2022 6 min Episodio 233
Furniture retailers see decline in sales, layoffs since height of COVID boom

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Episode Synopsis

In February of 2020, Americans spent $11.3 billion on furniture and home furnishings, and monthly sales grew by 181% over an 11-month period from April 2019 to March 2020, according to Commerce Department data.However, a cushy new sofa or mattress isn’t always enough to pad the discomfort of inflation and a down economy, and furniture sales are now slowing. “We saw an acceleration in sales throughout the pandemic which began to taper late last year. Sales have seen a decline into the second quarter of 2022 and have stabilized over the third quarter,” says Jordan England, co-founder and CEO of eCommerce furniture company Industry West. ... ()

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