HomeGoods Competitors and Similar Companies

HomeGoods is an interior decor subsidiary company owned by TJX. The brand is a chain of home refurbishment stores headquartered in Framingham, Massachusetts. It was initiated as a small-scale enterprise in 1992, providing home domestic appliances like; minor pieces of furniture, beddings, curtains, sofa cloths, quilts, and other fabric materials used indoors. 

HomeGoods has grown to hundreds of locations throughout the United States. HomeGoods sells furniture, linen, cookware, art, and other household items.

HomeGoods (owned by TJX) is a sister company of Maxx, Sierra Trading Posts, and Marshalls. The operation and size of each store in each region depend on the location. There are places in the United States where both HomeGoods and other TJX brands are located. Maxx or Marshalls store the brand in one building.

In Canada and Europe, HomeGoods’ parent company operates a similar chain store called ‘HomeSense.’ In August 2017, TJX announced that it would open approximately 400 HomeSense stores across the United States.

HomeGoods has a related app called ‘The Goods’ that allows customers to see what is available in their stores.

NAME	HomeGoods Inc.
FOUNDED	1992
HEADQUARTERS	Framingham, Massachusetts, USA
SIC CODE	5714
STATUS	Unlisted Private Company
INDUSTRY SECTOR	Retail
EMPLOYEES	1,500
TRADING SYMBOL	NYSE: TJX S&P

How HomeGoods makes money

Houseware Ecommerce

HomeGoods sells varieties of bedding, furniture, housewares & lighting items on ‘The Goods.’ There’s a discount on every item sold, and HomeGoods makes a commission for the digital service rendered. Similar products from other brands (taxed) are also itemized.

Packing/Shipping

HomeGoods charges a packing/shipping fee (with commission) for remote buyers buying items less than $120 online. 

The US home decor market is a product (house furniture, home furniture, floor, wall decoration, lighting and lamps, accessories, and other home decor products) and distribution channels (supermarkets and hypermarkets, specialty stores, online, And other distribution channels) 

Due to the rapidly changing lifestyle and increasing household goods, the US home decor market is experiencing the highest growth in the North American region, with a market share of over 60%. The upholstery market is growing as the number of homes in the country increases. Upholstery products such as furniture, textiles, and floor coverings that make living spaces beautiful are becoming increasingly important. One factor responsible for the rapid growth of the home decor market is the expansion of the real estate industry. 

Many people go to online retail stores to decorate their homes. Other factors that influence market growth are increased disposable income and improved people’s lifestyles. However, some restrictions are slowing the growth of the upholstery product market, including B. Rising prices for raw materials such as wood and leather for some products.

_US Home Decors Market Statistics | Industry Size, Share 2022 – 27 (mordorintelligence.com)

HomeGoods Similar Companies 

The 10 biggest rivals to HomeGoods are;

1. HomeClick
2. Bed Bath & Beyond
3. Plush Home
4. West Elm
5. Crate and Barrel
6. Pottery Barn
7. CB2
8. Nordstrom Rack
9. Birch Lane
10. Parachute

Now, let’s discuss more of the top 10 Home Goods alternatives; 

HomeClick

HomeClick LLC., founded in 2015., Since 2000, HomeClick has been a one-stop shopping resource for branded household interior decoration items. HomeClick offers a wide range of products at an affordable price. The brand specializes in bathrooms, indoors and outdoors, lighting, and appliances. 

The goal is to provide products that allow customers to reshape their spaces and remodel their homes the way they want at a lower price. The company provides decoration guides that will guide customers through the process of filling their spaces with a collection of decorative items.

HomeClick has an almost equal size of customers and marketing strategy compared to HomeGoods’.

Similarities between HomeClick and HomeGoods

• Both companies offer an ever-changing fashion of unique home items, including kitchen essentials, beddings, lighting, furniture, etc.

Annual Revenue	Funding	Headquarters	EMPLOYEES
$240,000	$65.00 Million	Edison, New Jersey, US	12

Bed Bath & Beyond

Bed Bath & Beyond Inc. is an omnichannel retailer that sells a wide assortment of home interior domestic products – goods and household textiles. It is operated under names such as Bed Bath & Beyond, Christmas Tree Shops, and Harmon. The company also operates Decorist, an online interior design platform that provides personalized home design.

The company operates a retail chain with its subsidiaries, selling various household items such as bedding and related products, bathroom items, and kitchen textiles. Other items sold include; household furniture, kitchen utensils, luxury table tops, basic household items, general furniture, consumables, and certain children’s products. 

Bed Bath & Beyond offers healthcare, beauty care, gifts, and baby items.

Similarities between BB&B and HomeGoods

• The two home items dealers sell similar brands of kitchenware, rugs, etc. c which are of premium qualities

Annual Revenue	Funding	Headquarters	EMPLOYEES
$7.86 billion	$150 million	Liberty Avenue, NJ, US	55,000

Plush Home 

Plush Homes Co., Ltd., Originally established as a division of MG Resources Ltd., was established to act as an investor in real estate development by providing construction support services in the industry. 

Plush Homes Ltd. became registered to offer a wide range of products and services, primarily for constructing and designing elegantly finished residential and commercial spaces. 

The company has a strong team of experienced professionals trained to design and transform spaces to create a new modern atmosphere.

Similarities between Plush Home and HomeGoods

• Both companies do not offer buyers a guide to selecting collections for interior decorations

Annual Revenue	Funding	Headquarters	EMPLOYEES
$1-10 million	–	West Hollywood, CA	1-10

West Elm

West Elm was founded in 2002. The company offers retail sales of furniture and household items. Their headquarters are in Brooklyn, New York. The company is a subsidiary of Williams-Sonoma, Inc., a listed consumer retailer in the United States that sells kitchenware and furniture. 

The company is headquartered in San Francisco, California, USA. The company has 625 physical stores and sells in more than 60 countries under brands such as Williams Sonoma, Williams Sonoma Home, Pottery Barn, Pottery Barn Kids, PBteen, West Elm, Mark and Graham, and Rejuvenation. Williams-Sonoma, Inc. operates through eight related websites and one website. 

The company is one of the largest e-commerce retailers in the United States and one of the largest multi-channel professional retailers in the world. In 2019, Williams-Sonoma, Inc. was named the Fortune 500 Company for the first time in history.

Similarities between West Elm and HomeGoods

• Both offer relatively affordable mid-century modern furniture and décor online

Annual Revenue	Funding	Headquarters	EMPLOYEES
$32.61 million	–	Brooklyn, New York	6,072

CB2

CB2 is Crate and Barrel’s sister brand. Timeless style and classic design are hallmarks of CB2 furniture, home goods, and decor. From sofas to kitchenware, their pieces are now staples in homes across the country. CB2 is a decor inspiration center where you can go to add modern flair and a touch of whimsy to your space.

Similarities between CB2 and HomeGoods

• Both interior decor companies are popular and have active coupon codes.

Annual Revenue	Funding	Headquarters	EMPLOYEES
$16 million	—	Chicago, Illinois	441

Crate & Barrel

Crate and Barrel Holdings is a global furniture company founded in 1962. The company has its headquarters in Northbrook, Illinois. It also has franchises in European countries and employs 7,500 people in more than 100 stores in the United States and Canada.

Crate & Barrel Holdings has 22 offices in Canada, Colombia, Costa Rica, Taiwan, United Arab Emirates, and others. 

In September 2008, Crate & Barrel opened its first space outside the United States at the Yorkdale Shopping Center in Ontario, Canada.

Similarities between Crate & Barrel and HomeGoods

• Both companies offer frequent discounts and promotions on slow-moving products

Annual Revenue	Funding	Headquarters	EMPLOYEES
~ $1 billion	$140 million	Techny Rd, Northbrook	7,500

Pottery Barn

Pottery Barn is a full-scale (floor, wall, roof) interior/furniture e-commerce company with retail stores and supply chains in Canada, the United States, Mexico, and Australia. Pottery Barn is a division of Williams-Sonoma, Inc.

The company has its headquarters in California. Pottery Barn also operates several other variety shops, such as Pottery Barn Kids (PBK) and Pottery Barn Teen (PBT).

These stores sell three retail catalogs: A catalog of traditional pottery barns, a catalog of beds and baths in pottery barns, with a focus on the series of beds and baths. One is for patio furniture, and the other is for pool needs.

Similarities between Pottery Barn and HomeGoods

• Both brands are a pricey niche with high decorative product values 

Annual Revenue	Funding	Headquarters	EMPLOYEES
$2.2 billion	–	San Francisco, CA	1000+

Nordstrom Rack

Nordstrom Is a multipronged company with ties in the fashion and outlook business. The company is a leading fashion retailer offering attractive clothing, shoes, and accessories for men, women, and children. 

Nordstrom is committed to providing our customers with the best possible service and improving daily. This effort has grown from a small Seattle shoe store to today’s leading fashion retailer. 

Customers are serviced by full-line stores in the US and Canada, Nordstrom Rack locations, 7 Trunk Club Clubhouses, personalized styling services, Jeffrey boutiques, and clearance stores. 

Nordstrom also serves customers in many countries online through Nordstrom.com.  Nordstromrack.com operates in partnership with the private sales site ‘HauteLook,’ serving customers in the United States, Canada, and Australia. 

Free shipping and free returns, mobile shopping, and exciting new retail partnerships provide ongoing opportunities to serve more customers in diverse ways with a fresh and relevant shopping experience and exciting style.  

Similarities between Nordstrom Rack and HomeGoods

• Both platforms allow product managers to create artistic features of product pictures for sharing on social media.

Annual Revenue	Funding	Headquarters	EMPLOYEES
~ $10 billion	—	Seattle, Washington	687

Birch Lane

Birch Lane was founded in 2014 by the parent company, Wayfair. Birch Lane focuses on traditional-style furniture and decoration. Whether refreshing the corner of a book or the whole house, they believe that Birch Lane is like an instant home and will be loved every day for years. 

Birch Lane offers a fresh perspective on traditional furniture and decoration to provide shoppers with new sources of inspiration and achievable classic designs.

Similarities between Birch Lane & HomeGoods

• Both decor Ecommerce platforms sell durable pieces of furniture made with less expensive parts

Annual Revenue	Funding	Headquarters	EMPLOYEES
<$5 million	—	Copley, Boston	<20

Parachute

Parachute provides home interior decor useful necessities, including; bedding, bath linen, decorations, etc., that make you feel at home. 

The founder, Ariel Kaye, In 2014, launched Parachute as an online consumer brand focused on creating impeccable bedding. Since launching into the ecommerce and chain interior decor business, the company has expanded to many home areas and opened several physical stores nationwide, including the company’s hometown of Venice, California.

The company has created a loyal community that specializes in convenience both online and offline. 

Similarities between Parachute and HomeGoods

• Both platforms allow product managers to create artistic features of product pictures for sharing on social media.

Annual Revenue	Funding	Headquarters	EMPLOYEES
$22 million	$30 million	Venice, CA	181

CONCLUSION

HomeGoods biggest competitor is  HomeClick. HomeClick also offers all the furniture and lighting qualities that HomeGoods offers. Shipping and Delivery terms are fair, and reviews obtained from customer recommendations put them at a large market advantage. The future of the furniture and interior decoration industry in the US is 3D printed smart homes and Virtual Reality. 

However, average household spaces need to be managed using the best space management and interior design ideas since the home has become more of a workplace for Gen Z and posterity.