by Sector has its 5th year-over-year gain since September 2024, offering a glimmer of optimism for the industry this year
WASHINGTON — Furniture store sales continued their upward momentum in January, rising 3.7% from January 2024, according to figures released by the U.S. Department of Commerce late last week.
Sales in the furniture retail sector totaled $11.6 billion, compared with $11.2 billion in January 2024. By comparison, overall retail sales rose 4.2% to $723.9 billion, compared with $694.7 billion in January 2024. Compared with December, furniture store sales were down 1.7%, from $11.8 billion, while overall retail sales were down .9% from $730.3 billion.
This was the fifth straight year-over-year gain for the furniture sector since September, signaling that consumers are slowly opening their wallets to home furnishings spending. It’s a trend that the industry hopes continues in the coming months, although much will depend on movement in the housing market, both new construction and existing home sales.
The threat of tariffs is also an issue that could stop the momentum in its tracks should this result in significant price increases for consumers.
Motor vehicle and parts dealers had the largest year-over-year gain, rising 6.4% to $139.3 billion in January, from $130.9 billion in January 2024.
It was followed by miscellaneous store retailers such as pet supply stores, florists and religious supply stores, up 5.8% to $15.6 billion, from $14.7 billion; restaurants and bars, up 5.4% to $98.6 billion, from $93.5 billion in January 2024; health and beauty stores, up 4.9% to $38.1 billion, from $36.4 billion; non-store retailers such as catalogs and e-commerce specialists, up 4.7% to $123.6 billion, from $118.1 billion; and food and beverage stores, up 3.8% to $84.9 billion, from $81.8 billion.
Tied with furniture stores were general merchandise stores, including department stores, which also rose 3.7% to $76.9 billion, from $74.2 billion; clothing and clothing accessories, up 1.4% to $26.4 billion, from just under $26 billion; and building material and garden equipment and supplies dealers, up .7% to $40.1 billion, from $39.9 billion.
While the general merchandise segment was up overall, department stores falling within this area were down 1.4% to $10.9 billion, from $11.1 billion. The only other sector with a year-over-year decrease for the month of January was sporting goods, hobby, musical instrument and bookstores, which was down 4.1% to $8 billion, from $8.4 billion in January 2024.
While not the highest gaining segment, or the slowest either on a percentage basis, January furniture retail sales of $11.6 billion were down compared with nearly $13 billion in January 2023. However, they also were above pre-pandemic levels of $9.8 billion in January 2019, $9.9 billion in January 2018, $9.5 billion in January 2017, $9.2 billion in January 2016 and $8.7 billion in January 2015.
