This May, the furniture industry saw a 3% increase in conversion rate, while the mattress industry experienced a 9% boost in average ticket prices.

This week we will take a closer look at what drove these improvements in the industry and what they could mean for the future.

THIS WEEK’S HIGHLIGHTS

  • May in the furniture industry: How the furniture industry increased conversion rate by 3%.
  • May in the mattress industry: Less foot traffic, higher average ticket, and more time spent with customers.

  • Q1 2023 Benchmark Report: Click HERE to see how your store compares to the industry average.

FOOT TRAFFIC INDEX

Here’s a look at last week’s foot traffic compared to the same time last year.

CLICK HERE to subscribe to Daily Foot Traffic Index

FOOT TRAFFIC TRENDS

Industry insights so you can convert your foot traffic into more sales.

May 2023: Furniture industry

May 2023: Mattress industry

Retail Snippets

A new era: Retail industry ad spend on YouTube to top $4 billion this year.

 

2023 Predictions: 85% of Gen Z says social media impacts purchase decisions.

 

Warning signs: Target sales flat as retailer warns of $500M profit hit.

RANDOM IRRELEVANCE

Inflation: Consumer prices in May rose at slowest annual rate since April 2021.

 

Earth 2.0: James Webb’s ‘too massive’ galaxies may be even more massive.

 

Stream-worthy: The 20 best TV shows of 2023 (so far).