Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In

Q3 Index - Home Goods and Improvement Sector

by 
Tali Rozenman
 on 
November 19, 2019
Q3 Index - Home Goods and Improvement Sector

We’re continuing our Q3 Retail Index with something that really hits home, the Home Goods & Improvement sector that is. Did this quarter deliver results after a strong spring season? We dove into foot traffic data to see. 

Most Improved

In Q2 only two of the ten companies analyzed experienced a drop in traffic from the previous quarter - Bed, Bath & Beyond and IKEA. This round, things didn’t look as good for the Home Goods chains, as only half of the retailers saw growth in Q3 compared to Q2. This speaks less to a wider problem and likely indicates the hype around Home Improvement products that surge in the spring, though many of these same brands also saw decreases Year-over-Year.

On the flip side, Bed, Bath & Beyond and IKEA showed the highest quarter over quarter growth of 31.2% and 30.4% respectively, followed by HomeGoods with 13.5% growth. The average quarter over quarter growth of the entire sector was 4.27%. The numbers for Bed, Bath & Beyond are particularly interesting considering the negative sentiment that abounded earlier this year.

Coming Back For More 

We also looked at customer loyalty, or visits per visitor, for each retailer. When it came to this metric, The Home Depot (2.63) and, surprisingly, Menards (2.54) had the highest values, meaning that customers come back on average almost once a month. Lowe’s too was in the top three, with 2.35 visits per visitor. The average of the rest of the group was only 1.47,  meaning one less visit per customer this quarter. At scale, this results in a huge impact on total traffic. When it comes to basic, ongoing Home Improvement needs, The Home Depot, Lowe’s and Menards have clearly been better established as top-of-mind, go-to destinations.

IKEA was on the lower end, with 1.47 visits per visitor on average, but it’s important to note the length of stay per visitor here. Just like in Q2, customers stay in IKEA for 80 minutes on average, which is twice as much as the group average. This shows that IKEA is strongest when it comes to providing visitors with an end-to-end shopping experience. 

Top Two

When it comes to market share, The Home Depot and Lowe’s continue to dominate, holding 65.7% of total market share for the sector. Home Depot takes 38% of the Home Improvement cake while Lowe’s has 27.7% market share. HomeGoods and Menards are far behind at 7.9% and 7%, leaving the two leaders far ahead of the pack. Even with the recent struggles of Home Depot, this metric clearly underlines the strong position from which the brand is making its adjustments.

Takeaways

While The Home Depot and Lowe’s are the clear Home Improvement sector kings, IKEA continues to hold the throne when it comes to visit duration. How will IKEA’s urban expansion pan out in 2020? What will happen with Bed, Bath & Beyond’s brand family? And will the giants slay the holiday season? Check back in at the Placer.ai blog. 

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Placer.ai Free
Oops! Something went wrong while submitting the form.
Ollie’s Bargain Outlet and Five Below: Q1 2024 Treasure Troves
CAVA Still Going Strong
Driving Success: Auto Parts Chains in 2024
Checking in With DICK’S Sporting Goods
Mother’s Day Shopping and Dining Trends
Placer.ai Mall Index: April 2024 Recap – Retail Resilience Heading into Spring
Dollar Stores Still Gaining Momentum
Off-Price Apparel Chains After Q1 2024: Demographics in the Balance
Walmart, Target, and Wholesale Clubs Continue to Thrive
Home Improvement and Decor Check In
Placer.ai Office Index: April 2024 Recap – Recovery Continues
Movie Theaters in Q1 2024: A Preview of Coming Attractions?
Let’s Get Physical: Fitness In 2024
Where Are Workers Returning to Office in 2024?
2024 Wins: Sweetgreen & First Watch on the Rise
A Full-Service Turnaround: Bloomin’, Dine, and Texas Roadhouse
Wendy’s and Denny’s: Breakfast and Late Night Dining Drives Success
Coffee Chains: Q1 2024 Update and What’s Changed Since COVID
Checking in with RBI and YUM!
Chipotle & McDonald's Serving Up Success
Wingstop & Shake Shack Continue Growing Their Reach 
Strong Start for Sprouts in 2024
Crocs’ Footwear Fairytale
Who Attends NCAA Final Four Events?
Eclipse Fever: How Did the (Retail and Hospitality) Stars Align?
Exploring Albertsons Companies’ Grocery Growth
Placer.ai Mall Index: March 2024 Recap – Malls Rise Again
Placer.ai Office Index: March 2024 Recap
Florida Spring Break Break-Up? Travelers Still Love Florida!
Provo-Orem and Ogden-Clearfield Emerging As Utah Hotspots 
Three Formulas for Experiential Retail in 2024
Aldi & Lidl Making The Cut
Texas Suburbs on the Rise
Exploring Luxury Hotel Brands’ Guest Segmentation
The St. Patrick’s Day Effect
How Can JOANN Make a Comeback?
Panera Bread Well Positioned for Possible IPO
Who Will Benefit From Family Dollar’s Downsizing?
Dave & Buster’s and Main Event Entertainment: Food and Fun for Everyone
Darden Brands: Location Analytics and Consumer Behavior
Nike and lululemon: a Strong 2023, Sprinting into 2024
Where Is Retail and Dining Foot Traffic Thriving in Early 2024?
Placer.ai White Paper Recap – February 2024
Three Retail & Dining Chains That May Surprise in 2024
Specialty Discount Chains Rock Retail Therapy
Placer.ai Mall Index: February 2024
Placer.ai Office Index: February 2024 Recap
Ulta Beauty Continues To Shine
First Watch Sails Into 2024
Hibbett Sports and DICK’S Sporting Goods: A Psychographic Analysis
Checking in With Discount & Dollar Stores
Peeking Behind The Curtain: Movie Theaters in 2023 and Beyond
Diving Into Brick-and-Mortar Eyewear
Getting Into Gear: Exploring The Auto Part Industry
Recapping Valentine’s Day 2024 Foot Traffic Trends
Fitness: A Strong Start to 2024
Dutch Bros. Continues To Percolate Visits
Super Bowl 2024: Placer.ai’s Postgame Foot Traffic Analysis
CAVA & sweetgreen Are On the Rise
Hats Off For Off-Price
Who Is Shopping at Malls?
Drilling Down Into Home Improvement
Walmart, Target, Costco & Superstore Space 2023 Recap
Catching Up With Shake Shack and Wingstop
Something To Chew On: Demographic Shifts at Steakhouse Chains
Placer.ai Office Index: Looking Back at 2023
Recapping RBI & Yum! Brands’ 2023 Foot Traffic Performance
Placer.ai White Paper Recap – January 2024
Who Shops at Anthropologie and Urban Outfitters?
Three Taco Chains to Watch in 2024
Starbucks and Dunkin’: 2023 in Four Data Points
Who Visits CVS and Walgreens?
Fashionably Frugal: Apparel in 2023
Catching Up With Fast Food
The Grocery Sector in 2023: An End-of-Year Recap
3 Mall & Shopping Center Trends for 2024
Bakery Chains Rising To The Top
Placer.ai and Esri Partner to Deliver Geospatial Analytics
Tampa Tourism Trends
Going For The Green: The Changing Dynamics Of Country Clubs
Christmas Day Dining Recap
Major Urban Shopping Districts – Holiday Season Recap
Placer.ai Office Index: December 2023 Recap
Recapping the 2023 Holiday Shopping Season
Placer.ai White Paper Recap – December 2023
7 Retail & Dining Segments to Watch in 2024
Diving Into Holiday Season Favorites
Super Saturday and Christmas Eve Eve: A Winning Combination
3 Budget Grocery Chains Finishing 2023 On a High Note
Making It In America: International Chicken Chains Bring The Heat
Domestic Tourism at a Glance: A Q3 2023 Roundup
Five Pizza Chains On The Rise
Jewelry Brands Taking Advantage of the DTC Opportunity
Secondhand News: Kids' Thrift Shops
Recapping 2023’s Dining M&As
MetLife Stadium Kicks Off Football Season
Placer.ai Office Index: November 2023 Recap
Small Coffee Chains Brewing Big Success
Placer.ai White Paper Recap – November 2023
Thanksgiving Travel 2023 Recap