In this article, we will be taking a look at the 21 best furniture stores in 2023. To skip our detailed analysis of the furniture sector, you can go directly to see the 5 Best Furniture Stores in 2023.
The COVID-19 pandemic was highly devastating for many sectors across the globe. However, with the exit of the pandemic, many impacted sectors, such as the furniture sector, have begun to recover. We previously reported that the furniture sector was the largest in the US in terms of revenue since it produced about $226.78 billion in revenues in 2021. This large scope of the sector and the easing market conditions in the absence of the pandemic have worked together to enable the continued growth of the furniture sector. For instance, in 2022, we witnessed this clear recovery in the upholstered furniture industry in particular.
The Recovering Global Upholstered Furniture Industry
According to a report published by the Centre for Industrial Studies in 2022, global consumption of upholstered furniture had increased to $81 billion in that year. This marked a clear recovery from the pandemic-impacted levels in 2019 since this figure marks a $10 billion increase since 2019 levels. The report also mentioned the largest markets for upholstered furniture. These are the furniture markets of the US, China, Germany, and the United Kingdom. These four markets, alongside six others, made up 80% of global upholstery consumption as of 2022. The report further mentioned that of the top 100 upholstered manufacturers analyzed, the largest companies in terms of revenue were based in the US and China, making these two companies the global leaders in the furniture sector.
Considering the fact that renowned furniture companies such as Target Corporation (NYSE:TGT), Walmart Inc. (NYSE:WMT), and Costco Wholesale Corporation (NASDAQ:COST) are all based in the US, the status of the US as a global leader in the furniture industry is unsurprising. In the aftermath of the pandemic, a major trend observed in the global furniture industry is the increasing demand for online shopping. This new demand has rapidly become one of the main drivers of the furniture market. According to a report published by the Business Research Company in January 2023, this market’s size is expected to grow to $935.9 billion by 2027, growing at a rate of 6.1% annually from 2023 to 2027.
Post-Pandemic Online Shopping
According to a report published by Fortune Business Insights on the regional forecast for the furniture market between 2023 and 2028, the pandemic significantly altered consumer preferences when it comes to their method of shopping. For example, in the 12 months leading up to August 2020, IKEA reported a 43% jump in its online sales from furnishing items globally. Additionally, the report noted that the presence of prominent e-commerce companies in North America, in particular, has also aided the growing demand for the online shopping of furniture. Many e-commerce companies, such as Alibaba Group Holding Limited (NYSE:BABA), provide fixture items to complement furniture products. Alibaba Group Holding Limited (NYSE:BABA) has also invested about $2.88 billion in furniture retailer EasyHome since 2018 to expand its own fixture products business in Canada, where EasyHome is based.
Such actions by e-commerce companies show how these corporations are also banking on profiting from the growing demand for online shopping when it comes to furniture. However, the rise of online shopping in this sector is merely one trend among many that are helping the sector expand and grow in the aftermath of the pandemic. We have compiled a list of the top furniture stores to shop at in 2023 in recognition of this undeniable growth.
WorldWide/Shutterstock.com
Let’s now take a look at the 21 best furniture stores in 2023.
Our Methodology
To select our list of the best furniture stores in 2023, we have consulted Furniture Today’s Top 100 US Furniture and Bedding Stores list from May 2022. We also consulted data from Slumber Search, which aggregated over 10,000 customer reviews from various furniture stores and independent scores online to create weighted scores and ratings for these stores We then ranked these stores based on their overall ratings based on this data from the lowest to the highest rating. The overall ratings take into account factors such as product pricing, customer satisfaction, and product quality.
Best Furniture Stores in 2023
21. Nebraska Furniture Mart
Overall Rating: 7
Customer Satisfaction Rating: 6.8
Nebraska Furniture Mart operates five locations in the US. All of these stores have gained dominance in their operative areas and are providing quality furniture goods to customers across the US.
The store falls under Berkshire Hathaway’s furniture division. It offers customers a return policy of 30 days, and its products can cost anywhere between $21 and $3170. The company considers its sectionals and sofas, beds and bedroom sets, and mattresses to be its top products.
20. Rooms To Go
Overall Rating: 7.1
Customer Satisfaction Rating: 6.8
Rooms To Go is a Florida-based furniture store chain. The company was founded in 1991.
The company operates about 132 locations and has 7500 employees. It offers low-to-moderate and discount-priced furniture and accessories to its customers. In 2022, Rooms To Go ranked 144 on Forbes’ America’s Largest Private Companies list.
19. Bob’s Discount Furniture
Overall Rating: 7.2
Customer Satisfaction Rating: 7
Bob’s Discount Furniture is a Connecticut-based furniture store chain. The company was founded in 1991.
In 2017, Bob’s Discount Furniture ranked number 10 on Furniture Today’s list of top 100 furniture stores in May 2022. This is the third consecutive year that the company has ranked this high on the list. As of 2019, the company has 1000 employees, and as of 2022, it operates about 150 stores across the US. Bob’s Discount Furniture offers customers a unique shopping experience by featuring cafes in all its stores.
18. Big Lots
Overall Rating: 7.2
Customer Satisfaction Rating: 7.2
Big Lots is a home discount retailer based in Columbus, Ohio. The company offers upholstery, mattresses, case goods, gazebos, and more.
The company has about 23,350 employees as of 2022. It operates over 1400 stores in the US and offers discounted prices on its overstocked and closeout merchandise. Big Lots is a highly diversified general retail store, offering products ranging from furniture to home appliances and even health and beauty cosmetics. This allows to company to maintain a consistent cash flow.
17. Raymour & Flanigan
Overall Rating: 7.4
Customer Satisfaction Rating: 7.2
Raymour & Flanigan is a New York-based furniture retail chain. It was founded in 1947.
The company has 5000 employees as of 2021 and operates about 145 locations. It offers a diverse range of furniture, including bedroom sets, dressers and chests, nightstands, twin beds, sectional sofas, recliners, dining room sets, and more. Raymour & Flanigan is the largest furniture and mattress retailer in the Northeast and the seventh-largest company of its kind in the US.
16. RH
Overall Rating: 7.4
Customer Satisfaction Rating: 7.2
RH is a home furnishings retailer operating under the RH Galleries and RH brand names. It is based in Corte Madera, California.
The company is mostly known for furniture, but it has also begun diversifying into the restaurants and guesthouse areas. Regardless, furniture accounted for about 69% of RH’s revenue in 2022. The company offers an RH Members Program through which customers can get a 25% discount on all merchandise and an additional 20% off on sale items for an annual fee of $175. As of this March, RH had about 460,000 members in this program, with room for further growth.
15. Sleep Number
Overall Rating: 7.5
Customer Satisfaction Rating: 7.4
Sleep Number is a home furnishing retail company. It is based in Minneapolis.
As of 2022, the company has 4994 employees, and it was founded in 1987. It designs, manufactures, and retails beds, pillows, sheets, and other bedding products. Sleep Number also provides adjustable bases under the FlexFit brand and smart beds under the Climate 360 brand. In 2022, the company was the third-largest mattress company in the US, comprising 8% of the mattress market share.
14. Ashley HomeStore
Overall Rating: 7.5
Customer Satisfaction Rating: 7.4
Ashley HomeStore is a Wisconsin-based home furnishings manufacturer and retailer. The company was founded in 1945.
As of 2021, Ashley HomeStore had about 35,000 employees. The company sells its products through two distribution channels: independent furniture dealers and over 700 Ashley Furniture HomeStore retail furniture stores.
13. West Elm
Overall Rating: 7.6
Customer Satisfaction Rating: 7.7
West Elm is among the most popular furniture stores in the US. It is owned by Williams Sonoma.
The store offers products that cost anywhere between $9 and over $7179. It provides modern home furnishings and has over 100 stores in North America and worldwide.
12. La-Z Boy Furniture Galleries
Overall Rating: 8.1
Customer Satisfaction Rating: 7.8
La-Z Boy Furniture Galleries is a home furnishings company based in Monroe, Michigan. It manufactures and retails upholstery furniture products and accessories.
The company invented a reclining system for its sofas to offer back and body support to its customers. La-Z Boy Furniture Galleries has since extended this technology from recliners to sofas, sectionals, and loveseats. It also sells home accents, dining tables, and bedroom furniture. As of 2022, the company had 12,800 employees.
Like Target Corporation (NYSE:TGT), Walmart Inc. (NYSE:WMT), and Costco Wholesale Corporation (NASDAQ:COST), La-Z Boy Furniture Galleries is among the most popular furniture providers in the US.
11. Mattress Firm
Overall Rating: 8.2
Customer Satisfaction Rating: 8.1
Mattress Firm is a Texas-based mattress store chain. It was founded in 1986.
The company has about 10,000 employees and operated about 2300 stores in 2021. Mattress Firm has acquired a range of similar businesses since 2007 when it first acquired Mattress Pro. In 2014, it acquired Sleep Train for $425 million, and in 2015, it also acquired Sleep Country USA. It later also acquired Mattress Barn, Sleepy’s, and Sleep America. Through these acquisitions, Mattress Firm has consistently been buying out its competitors to retain its dominance in the mattress market.
10. IKEA
Overall Rating: 8.3
Customer Satisfaction Rating: 8.4
IKEA is a provider of furniture, home accessories, design ideas, and more. It is based in the Netherlands and was founded in 1983.
The company is known as the world’s largest furniture retailer since 2008. IKEA gained recognition for its modernist designs and interior design work. As of 2021, the company operates about 445 locations, and as of 2022, it has 231,000 employees.
Just like Target Corporation (NYSE:TGT), Walmart Inc. (NYSE:WMT), and Costco Wholesale Corporation (NASDAQ:COST), IKEA is among the largest furniture retailers across the globe, offering quality products to its customers.
9. Macy’s
Overall Rating: 8.7
Customer Satisfaction Rating: 8.6
Macy’s is a consumer discretionary company based in New York. It operates stores, websites, and mobile applications through which it sells home furnishings, apparel, and more.
As of this January, Macy’s had a market share of 18.6% in the Department Stores industry. It generated sales of $1.1 billion in 2019 and has over 88,000 employees as of 2023. The company has invested in launching a digital marketplace where it can sell third-party brands as well.
8. The Citizenry
Overall Rating: 9.3
Customer Satisfaction Rating: 9.3
The Citizenry focuses on the environment, local artisans, and unique small-batch styles. The store offers a range of furniture products such as rugs and lounge chairs.
The store also provides tables, headboards and bedding, and decor products like baskets. Prices for its products range from $55 to $1395 and above.
7. Burrow
Overall Rating: 9.4
Customer Satisfaction Rating: 9.3
Burrow has been revolutionizing couches and modular seating for lower prices since its inception. The store offers beds, shelves, tables, rugs, and more.
Prices for Burrow’s products range from $15 to over $3995. It uses stain and scratch resistance olefin fiber and Baltic Birch frames, and three-layer foam cushioning for its seating and upholstered furniture.
6. Floyd
Overall Rating: 9.4
Customer Satisfaction Rating: 9.4
Floyd is a furniture store that started with a vision to familiarize modern designs with quality materials and ease of assembly. The store offers sofas, tables, bed frames, and more.
Prices for the store’s products range from $185 to over $3825. Floyd products use real wood with birch, pine, and walnut used in most items. The store’s top picks are its beds and bed frames, sofas, and storage products such as shelves.
Click to continue reading and see the 5 Best Furniture Stores in 2023.
Suggested articles:
- 10 Best Home Builder Stocks To Invest In
- 10 Best Home Appliance Stocks To Invest In
- Largest Homebuilders in USA
Disclosure: None. 21 Best Furniture Stores in 2023 is originally published on Insider Monkey.
