When it comes to purchasing big-ticket furniture items, consumers have seemingly put their spending desires to bed.
Major furniture companies have reported falling revenues in recent months, with luxury brand RH reporting a 19% Q2 drop and manufacturer Hooker Furnishings reporting a 36% revenue decline in the same period.
The shifting spending trends come after the furniture industry experienced boosted sales prompted by the Covid-19 pandemic.
Now, it remains to be seen if the furniture industry can pull itself out of this post-pandemic slump.
