The COVID-19 pandemic had a significant impact on the global economy and many industries, including the furniture industry. The pandemic caused supply chain disruptions, decreased consumer demand, and forced many furniture retailers to temporarily close their doors, which led to a contraction in the furniture market.
It’s worth noting that the impact of the pandemic on the furniture market varied across different segments of the industry. Online furniture retailers and those offering home office furniture experienced growth during the pandemic, while traditional brick-and-mortar retailers and those focused on hospitality and commercial projects struggled.
After the COVID surge however, some online retailers, including Wayfair had seen a drastic decline in sales and share of wallet. The beginning of 2023 however is showing that retailers like Wayfair are once again on the rise as they reposition in a post COVID world.
