December furniture retail sales see a strong rebound

8.4% year-over-year increase is the highest in almost 2 years and the 4th straight month of yearly gains

WASHINGTON — Furniture store sales had their best performance in nearly two years in December as the sector achieved an 8.4% year-over-year increase from December 2023.

This was the fourth straight month of year-over-year increases for furniture retailers and the best year-over-year performance since January 2023, when sales were up 9.8% from a year earlier.

Overall retail sales by comparison rose 3.9% to $729.2 billion in December, from $701.7 billion in December 2023. They also rose .4% from $725.9 billion in November. For the year overall, retail sales totaled $8.5 trillion, up 3% from 2023.

Furniture store sales for the month totaled $11.9 billion, compared with $10.95 billion in December 2023 and $11.6 billion in November, up 2.3%. For the full calendar year, they were down 2.2% to $135.7 billion.

The year-over-year gain, however, placed the furniture segment as the top performing sector, tied with motor vehicle and parts dealer sales, which also were up 8.4% to $142.9 billion, from $131.9 billion a year earlier.

The increase for furniture suggests a holiday selling season boost as people purchased new furniture for dining and entertaining guests at home. It is uncertain whether the trend will continue into the new year, but retailers and the industry in general have been hopeful for a rebound in 2025.

Also seeing an increase in December sales were non-store retailers including e-commerce sites and catalogs. This segment had total sales of nearly $127 billion, up 6% from $119.8 billion in December 2023.

Other segments that were up included electronics and appliance stores, with sales of $7.7 billion, up 5.8% from $7.3 billion last year; miscellaneous store retailers such as pet supply stores, florists and religious supply stores, up 3.7% to $15.5 billion, from $14.9 billion in December 2023; health and personal care stores, up 3.4% to $38.1 billion, from $36.9 billion; food and beverage stores, up 3.1% to $84.7 billion, from $81.2 billion; general merchandise stores including department stores, up 2.6% to $76.5 billion, from $74.6 billion; restaurants and bars, up 2.4% to $96.9 billion, from $94.7 billion; clothing and clothing accessories stores, also up 2.4% to $26.7 billion, from $26.1 billion; and sporting goods, hobby, musical instrument and bookstores, up 1.8% to $8.4 billion, from $8.3 billion a year earlier.

Down for the month of December compared with December 2023 were building material and garden supply stores with sales of $40.5 billion, down 1.8% from $41.2 billion and gasoline stations, with sales of $52.4 billion, down 1.2% from $53 billion a year earlier.

In the furniture sector, December sales also continued to be over pre-pandemic levels of $10.2 billion in 2019, $10.1 billion in 2018, $10.1 billion in 2017, $9.3 billion in 2016, $9.4 billion in 2015 and $8.7 billion in 2014.

Thomas Russell

Home News Now Editor-in-Chief Thomas Russell has covered the furniture industry for 25 years at various daily and weekly consumer and trade publications. He can be reached at tom@homenewsnow.com and at 336-508-4616.

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