Home Furnishings Stores NAICS 44912

Mar 24, 2025 - Décor Vendors Plan Price Hikes

• According to Home Accents Today, several home accent vendors have notified customers of upcoming wholesale price increases due to recent tariffs and other factors. Vendors such as Accent Décor, DW Silks, and Kavana Décor cited their inability to absorb the costs of tariffs imposed by the Trump administration and elsewhere. Per the report, DW Silks announced it would raise prices between 5% to 15% beginning in April, and Accent Décor’s price increases, averaging 8%, went into effect in mid-March. In addition to evolving trade policies, HiEnd Accents cited higher costs of raw materials, labor, and global supply chain operations for its “modest increase” on many products.
• According to a report in CFO Dive, consumer confidence levels, an indicator of discretionary spending, have fallen due to consumer anxiety about tariff effects and economic uncertainty. The consumer sentiment index from the University of Michigan dropped 11% in March 2025, marking the third straight month of declines and hitting the lowest level since November 2022. In addition, the Conference Board index of consumer confidence in February 2025 marked the biggest decline since August 2021 and the third straight month of declines. According to Stephanie Guichard, senior economist for global indicators at the Conference Board, “There was a sharp increase in the mentions of trade and tariffs, back to a level unseen since 2019. Most notably, comments on the current administration and its policies dominated the responses.”

• Consumers are eager to embrace life’s special moments and year-round celebrations, according to the 2025 Occasions and 2025 At-Home Entertaining reports from the International Housewares Association (IHA). Inflation has been a factor in making the home a more attractive place for socializing, per the Occasions report. Nearly half of survey respondents held casual gatherings involving food and drink in 2024, and 24% of consumers say they are more likely to host a gathering in the upcoming year. The most likely time frame for a gathering is October to December, with nearly 50% saying they would entertain during this time. The most popular gathering style of serving food is buffet/self-serve (50%) followed by sit-down meals (37%). According to IHA President and CEO Derek Miller, “The pandemic’s lasting impact reshaped traditional gatherings and the way people mark important milestones. The survey results show consumers have adapted, rescheduled and reimagined key life events, settling into new traditions and rekindling their passion for at-home entertaining — a trend that shows no signs of slowing down.”
• A new study by the National Retail Federation (NRF) of the estimated impact of president-elect Donald Trump’s tariff proposals shows the tariffs could increase costs of major consumer product categories including apparel, toys, furniture, household appliances, footwear and travel goods. The study looked at the impact of Trump’s proposed universal 10-20% tariff on imports from all countries and an additional tax on imports from China. Per the study, consumers would pay $13.9 billion to $24 billion more for apparel, $8.5 billion to $13.1 more for furniture, and $6.4 billion to $10.9 billion more for household appliances with the proposed tariffs in place. The study showed the tariffs would have a “significant and detrimental impact” on the costs of a wide range of consumer products, in particular those products supplied primarily by China. US retailers would be unable to absorb the increased costs and would need to raise prices “higher than many consumers would be willing or able to pay.” According to Jonathan Gold, NRF vice president of supply chain and customs policy, “Retailers rely heavily on imported products and manufacturing components so that they can offer their customers a variety of products at affordable prices. A tariff is a tax paid by the U.S. importer, not a foreign country or the exporter. This tax ultimately comes out of consumers’ pockets through higher prices.”