Growth in spending on home improvement and home furnishing boomed during the pandemic and remains elevated. Consumers are shifting home spending to online channels. Online home spending was already growing at >30% but accelerated to 136% last year, and is still 75% above levels seen two years ago.
Companies offering goods for the home online such as Wayfair, Overstock.com and Ashley Furniture grew their number of shoppers by 30% to 200% last year. Large numbers of new consumers have experienced that buying furniture and decorations for their home can also be done from the comfort of their home.
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