Steady growth! U.S. furniture and home furnishings spending increased 16% in the past five years

Recently, Giving Assistant released its latest research report on US consumer spending .

Data shows that in the past five years, American households have increased their spending on home and household goods by 16%.

Looking at the products in each category, household products have seen the fastest spending growth in the past five years , up 29%, followed by laundry detergent, cleaning supplies and stationery products, with spending up 27.8%.

Judging from the sales of related products on e-commerce platforms, Amazon and Wayfair have seen a significant increase in revenue from home furnishings and household goods in recent years.

Across all U.S. e-commerce platforms, the products with the fastest online revenue growth are furniture, building materials, and electronics . Since 2019 , online sales of these products have increased by more than 200%.

At the same time, online sales of gardening supplies and household items are also growing rapidly.

Because of the impact of the epidemic, consumers were forced to stay at home and started to have more time to decorate their living spaces and make them more comfortable , so such products have ushered in rapid growth.

It is worth noting that in the past five years, the expenditure on public utilities has also shown a rapid growth trend. It mainly includes water and electricity bills, rent, telephone bills, gas bills and other public services.

As for rent alone, it has been rising steadily in the U.S. for more than a decade. In 2015, the monthly rent in the U.S. was about $800. Today, the monthly rent in the U.S. has reached $1,225.

It is worth mentioning that due to the epidemic control restrictions on Americans' offline shopping and dining out, food and food delivery have also become important and rapidly growing categories in the online market.

According to the e-commerce sales report released by the US Department of Commerce , online sales in the United States reached US$870 billion in 2021 , an increase of 50.5% compared to 2019 , higher than the rapid growth in 2020 .

Many economists predict that the growth rate of consumer spending in the US online market is slowing down this year due to the impact of the epidemic, inflation and supply chain disruptions. However, the future economic outlook and consumer spending in the United States are still full of uncertainties.

The current US market is full of opportunities and challenges. For cross-border sellers, they must fully utilize their own low-cost advantages and develop categories that cater to the habits of American consumers in order to seize greater opportunities in the market.

US e-commerce market