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Online home decor market size to grow by USD 58.99 billion from 2021 to 2026: A descriptive analysis of customer landscape, vendor assessment, and market dynamics – Technavio
Online home decor market size to grow by USD 58.99 billion from 2021 to 2026: A descriptive analysis of customer landscape, vendor assessment, and market dynamics – Technavio
PR Newswire
NEW YORK, Jan. 16, 2023
NEW YORK, Jan. 16, 2023 /PRNewswire/ …
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Online home decor market size to grow by USD 58.99 billion from 2021 to 2026: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio
PR Newswire
NEW YORK, Jan. 16, 2023
NEW YORK, Jan. 16, 2023 /PRNewswire/ -- The global online home decor market size is estimated to increase by USD 58.99 billion from 2021 to 2026. The market's growth momentum will accelerate at a CAGR of 8.92% during the forecast period - request a sample report
Global online home decor market – Vendor analysis
Vendor offerings -
- Amazon.com Inc. – The company offers online home decor such as clocks, paintings, photo frames, posters, artificial flowers, and stickers.
- Ashcomm LLC - The company offers online home décor such as bedroom sets, study tables, mirrored dressers, nightstands, and headboards.
- Bed Bath and Beyond Inc. - The company offers online home decor products such as plant hangers, paintings, wall art, mirrors, and frames.
- Herman Miller Inc. - The company offers various home decor products such as desks and tables.
- For details on vendors and their offerings – Buy the report!
Vendor landscape –
The global online home decor market is fragmented, with the presence of several vendors. A few prominent vendors that offer online home decor in the market are Amazon.com Inc., Ashcomm LLC, Bed Bath and Beyond Inc., Century Furniture LLC, Chairish Inc., Coyuchi Inc., D decor Home Fabrics Pvt. Ltd., Herman Miller Inc., Hoffner Online GmbH & Co. KG, Home24 SE, Inter IKEA Holding BV, LaZBoy Inc., Otto GmbH & Co KG, Pier 1 Imports Inc., The Home Depot Inc., Urban Ladder Home Decor Solutions Pvt. Ltd., Urban Outfitters Inc., Walmart Inc., Wayfair Inc., and Williams Sonoma Inc. and others.
Market players compete on many different factors, including price, quality, brand, and variety. They use various marketing strategies to increase their market shares. The acquisition of new brands will provide the leading competitors an opportunity to maintain their dominance in the global online home decor market during the forecast period. They are also adopting the practice of sustainability. These factors will encourage market players to focus on customization. Major competitors are focusing on mass customizing their products by interacting with consumers with AR. Such technological advances are expected to drive the growth of the global online home décor market during the forecast period.
Global online home decor market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –
- Key purchase criteria
- Adoption rates
- Adoption lifecycle
- Drivers of price sensitivity
Global online home decor market - Segmentation assessment
Segment overview
Technavio has segmented the market based on product (online home furniture, online home furnishings, and other online home decorative products).
- The online home furniture segment will grow at a significant rate during the forecast period. The preference for online shopping is increasing, owing to the growing Internet penetration rate and the rising number of smartphone users worldwide. The online channel allows manufacturers to expand their distribution networks by partnering with third-party e-retailers or establishing their own online shopping portals.
Geography overview
Based on geography, the global online home decor market is segmented into Europe, North America, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global online home decor market.
- Europe will account for 42% of the market's growth during the forecast period. The UK, and Germany are the key markets for online home decor market in Europe. However, market growth in this region will be slower than the growth of the market in APAC. The expansion of the urban population base is expected to increase the need for residential construction projects. This, in turn, will drive the online home decor market growth in Europe during the forecast period.
Global online home decor market – Market dynamics
Leading drivers - The rise in online spending and smartphone penetration is driving the market growth. The popularity of online shopping through smart devices has increased over the years owing to the high penetration of Internet services, improved economic growth, and the upgrade of purchase and delivery options with the emergence of m-commerce. Security features for online payments, free delivery, improved online customer services, and the customer-friendly designs of online shopping websites are also leading to the growth of the market.
Key trends - The growing demand for eco-friendly home decor items is a trend in the market. Environmental concerns and stringent government regulations are encouraging brand owners to adopt eco-friendly products. The rising awareness about the environment has increased the demand for eco-friendly furniture and other furnishings. This has motivated various home decor manufacturers to provide eco-friendly home decor items. Thus, the growing use of eco-friendly materials for manufacturing home decor is positively influencing the global online home decor market.
Major challenges - Strict competition from the offline channel will challenge the online home decor market during the forecast period. Consumers prefer purchasing home decor, home furnishings, and furniture from offline stores, as they can physically examine the products before making their purchase decision. Consumers explore options from different stores to get the best value and quality. Moreover, the offline segment is highly influenced by the increasing number of product specialty stores and brand-specific stores. Thus, offline stores will pose a threat to the global online home decor market growth during the forecast period.
What are the key data covered in this online home decor market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the online home decor market between 2022 and 2026
- Precise estimation of the size of the online home decor market and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the online home decor market across Europe, North America, APAC, South America, and Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of online home decor market vendors
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Online Home Decor Market Scope | |
Report Coverage | Details |
Page number | 140 |
Base year | 2021 |
Forecast period | 2022-2026 |
Growth momentum & CAGR | Accelerate at a CAGR of 8.92% |
Market growth 2022-2026 | USD 58.99 billion |
Market structure | Fragmented |
YoY growth 2021-2022 (%) | 7.49 |
Regional analysis | Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution | Europe at 42% |
Key countries | US, Canada, China, UK, and Germany |
Competitive landscape | Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
Key companies profiled | Amazon.com Inc., Ashcomm LLC, Bed Bath and Beyond Inc., Century Furniture LLC, Chairish Inc., Coyuchi Inc., D decor Home Fabrics Pvt. Ltd., Herman Miller Inc., Hoffner Online GmbH & Co. KG, Home24 SE, Inter IKEA Holding BV, LaZBoy Inc., Otto GmbH & Co KG, Pier 1 Imports Inc., The Home Depot Inc., Urban Ladder Home Decor Solutions Pvt. Ltd., Urban Outfitters Inc., Walmart Inc., Wayfair Inc., and Williams Sonoma Inc. |
Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse for Technavio's consumer discretionary market reports
Table of contents
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 24: Chart on Product - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
- 5.2 Comparison by Product
- Exhibit 26: Chart on Comparison by Product
- Exhibit 27: Data Table on Comparison by Product
- 5.3 Online home furniture - Market size and forecast 2021-2026
- Exhibit 28: Chart on Online home furniture - Market size and forecast 2021-2026 ($ billion)
- Exhibit 29: Data Table on Online home furniture - Market size and forecast 2021-2026 ($ billion)
- Exhibit 30: Chart on Online home furniture - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Online home furniture - Year-over-year growth 2021-2026 (%)
- 5.4 Online home furnishings - Market size and forecast 2021-2026
- Exhibit 32: Chart on Online home furnishings - Market size and forecast 2021-2026 ($ billion)
- Exhibit 33: Data Table on Online home furnishings - Market size and forecast 2021-2026 ($ billion)
- Exhibit 34: Chart on Online home furnishings - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Online home furnishings - Year-over-year growth 2021-2026 (%)
- 5.5 Other online home decorative products - Market size and forecast 2021-2026
- Exhibit 36: Chart on Other online home decorative products - Market size and forecast 2021-2026 ($ billion)
- Exhibit 37: Data Table on Other online home decorative products - Market size and forecast 2021-2026 ($ billion)
- Exhibit 38: Chart on Other online home decorative products - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Other online home decorative products - Year-over-year growth 2021-2026 (%)
- 5.6 Market opportunity by Product
- Exhibit 40: Market opportunity by Product ($ billion)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 42: Chart on Market share by geography 2021-2026 (%)
- Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 44: Chart on Geographic comparison
- Exhibit 45: Data Table on Geographic comparison
- 7.3 Europe - Market size and forecast 2021-2026
- Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
- Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
- Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.4 North America - Market size and forecast 2021-2026
- Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.5 APAC - Market size and forecast 2021-2026
- Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
- Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
- Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
- Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
- Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
- Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ billion)
- Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ billion)
- Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 Germany - Market size and forecast 2021-2026
- Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ billion)
- Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)
- Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.10 China - Market size and forecast 2021-2026
- Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ billion)
- Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ billion)
- Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.11 UK - Market size and forecast 2021-2026
- Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ billion)
- Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
- Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
- 7.12 Canada - Market size and forecast 2021-2026
- Exhibit 82: Chart on Canada - Market size and forecast 2021-2026 ($ billion)
- Exhibit 83: Data Table on Canada - Market size and forecast 2021-2026 ($ billion)
- Exhibit 84: Chart on Canada - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on Canada - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ billion)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 90: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 91: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification
- 10.3 Amazon.com Inc.
- Exhibit 93: Amazon.com Inc. - Overview
- Exhibit 94: Amazon.com Inc. - Business segments
- Exhibit 95: Amazon.com Inc. - Key news
- Exhibit 96: Amazon.com Inc. - Key offerings
- Exhibit 97: Amazon.com Inc. - Segment focus
- 10.4 Ashcomm LLC
- Exhibit 98: Ashcomm LLC - Overview
- Exhibit 99: Ashcomm LLC - Product / Service
- Exhibit 100: Ashcomm LLC - Key offerings
- 10.5 Bed Bath and Beyond Inc.
- Exhibit 101: Bed Bath and Beyond Inc. - Overview
- Exhibit 102: Bed Bath and Beyond Inc. - Product / Service
- Exhibit 103: Bed Bath and Beyond Inc. - Key news
- Exhibit 104: Bed Bath and Beyond Inc. - Key offerings
- 10.6 Herman Miller Inc.
- Exhibit 105: Herman Miller Inc. - Overview
- Exhibit 106: Herman Miller Inc. - Business segments
- Exhibit 107: Herman Miller Inc. - Key offerings
- Exhibit 108: Herman Miller Inc. - Segment focus
- 10.7 Inter IKEA Holding BV
- Exhibit 109: Inter IKEA Holding BV - Overview
- Exhibit 110: Inter IKEA Holding BV - Product / Service
- Exhibit 111: Inter IKEA Holding BV - Key news
- Exhibit 112: Inter IKEA Holding BV - Key offerings
- 10.8 Urban Ladder Home Decor Solutions Pvt. Ltd.
- Exhibit 113: Urban Ladder Home Decor Solutions Pvt. Ltd. - Overview
- Exhibit 114: Urban Ladder Home Decor Solutions Pvt. Ltd. - Key offerings
- 10.9 Urban Outfitters Inc.
- Exhibit 115: Urban Outfitters Inc. - Overview
- Exhibit 116: Urban Outfitters Inc. - Business segments
- Exhibit 117: Urban Outfitters Inc. - Key offerings
- Exhibit 118: Urban Outfitters Inc. - Segment focus
- 10.10 Walmart Inc.
- Exhibit 119: Walmart Inc. - Overview
- Exhibit 120: Walmart Inc. - Business segments
- Exhibit 121: Walmart Inc. - Key news
- Exhibit 122: Walmart Inc. - Key offerings
- Exhibit 123: Walmart Inc. - Segment focus
- 10.11 Wayfair Inc.
- Exhibit 124: Wayfair Inc. - Overview
- Exhibit 125: Wayfair Inc. - Business segments
- Exhibit 126: Wayfair Inc. - Key news
- Exhibit 127: Wayfair Inc. - Key offerings
- Exhibit 128: Wayfair Inc. - Segment focus
- 10.12 Williams Sonoma Inc.
- Exhibit 129: Williams Sonoma Inc. - Overview
- Exhibit 130: Williams Sonoma Inc. - Business segments
- Exhibit 131: Williams Sonoma Inc. - Key news
- Exhibit 132: Williams Sonoma Inc. - Key offerings
- Exhibit 133: Williams Sonoma Inc. - Segment focus
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 134: Inclusions checklist
- Exhibit 135: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 136: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 137: Research methodology
- Exhibit 138: Validation techniques employed for market sizing
- Exhibit 139: Information sources
- 11.5 List of abbreviations
- Exhibit 140: List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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US: +1 844 364 1100
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Email: media@technavio.com
Website: www.technavio.com/
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Uncategorized
One city held a mass passport-getting event
A New Orleans congressman organized a way for people to apply for their passports en masse.
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While the number of Americans who do not have a passport has dropped steadily from more than 80% in 1990 to just over 50% now, a lack of knowledge around passport requirements still keeps a significant portion of the population away from international travel.
Over the four years that passed since the start of covid-19, passport offices have also been dealing with significant backlog due to the high numbers of people who were looking to get a passport post-pandemic.
Related: Here is why it is (still) taking forever to get a passport
To deal with these concurrent issues, the U.S. State Department recently held a mass passport-getting event in the city of New Orleans. Called the "Passport Acceptance Event," the gathering was held at a local auditorium and invited residents of Louisiana’s 2nd Congressional District to complete a passport application on-site with the help of staff and government workers.
'Come apply for your passport, no appointment is required'
"Hey #LA02," Rep. Troy A. Carter Sr. (D-LA), whose office co-hosted the event alongside the city of New Orleans, wrote to his followers on Instagram (META) . "My office is providing passport services at our #PassportAcceptance event. Come apply for your passport, no appointment is required."
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The event was held on March 14 from 10 a.m. to 1 p.m. While it was designed for those who are already eligible for U.S. citizenship rather than as a way to help non-citizens with immigration questions, it helped those completing the application for the first time fill out forms and make sure they have the photographs and identity documents they need. The passport offices in New Orleans where one would normally have to bring already-completed forms have also been dealing with lines and would require one to book spots weeks in advance.
These are the countries with the highest-ranking passports in 2024
According to Carter Sr.'s communications team, those who submitted their passport application at the event also received expedited processing of two to three weeks (according to the State Department's website, times for regular processing are currently six to eight weeks).
While Carter Sr.'s office has not released the numbers of people who applied for a passport on March 14, photos from the event show that many took advantage of the opportunity to apply for a passport in a group setting and get expedited processing.
Every couple of months, a new ranking agency puts together a list of the most and least powerful passports in the world based on factors such as visa-free travel and opportunities for cross-border business.
In January, global citizenship and financial advisory firm Arton Capital identified United Arab Emirates as having the most powerful passport in 2024. While the United States topped the list of one such ranking in 2014, worsening relations with a number of countries as well as stricter immigration rules even as other countries have taken strides to create opportunities for investors and digital nomads caused the American passport to slip in recent years.
A UAE passport grants holders visa-free or visa-on-arrival access to 180 of the world’s 198 countries (this calculation includes disputed territories such as Kosovo and Western Sahara) while Americans currently have the same access to 151 countries.
stocks pandemic covid-19 grantsUncategorized
Fast-food chain closes restaurants after Chapter 11 bankruptcy
Several major fast-food chains recently have struggled to keep restaurants open.
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Competition in the fast-food space has been brutal as operators deal with inflation, consumers who are worried about the economy and their jobs and, in recent months, the falling cost of eating at home.
Add in that many fast-food chains took on more debt during the covid pandemic and that labor costs are rising, and you have a perfect storm of problems.
It's a situation where Restaurant Brands International (QSR) has suffered as much as any company.
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Three major Burger King franchise operators filed for bankruptcy in 2023, and the chain saw hundreds of stores close. It also saw multiple Popeyes franchisees move into bankruptcy, with dozens of locations closing.
RBI also stepped in and purchased one of its key franchisees.
"Carrols is the largest Burger King franchisee in the United States today, operating 1,022 Burger King restaurants in 23 states that generated approximately $1.8 billion of system sales during the 12 months ended Sept. 30, 2023," RBI said in a news release. Carrols also owns and operates 60 Popeyes restaurants in six states."
The multichain company made the move after two of its large franchisees, Premier Kings and Meridian, saw multiple locations not purchased when they reached auction after Chapter 11 bankruptcy filings. In that case, RBI bought select locations but allowed others to close.
Image source: Chen Jianli/Xinhua via Getty
Another fast-food chain faces bankruptcy problems
Bojangles may not be as big a name as Burger King or Popeye's, but it's a popular chain with more than 800 restaurants in eight states.
"Bojangles is a Carolina-born restaurant chain specializing in craveable Southern chicken, biscuits and tea made fresh daily from real recipes, and with a friendly smile," the chain says on its website. "Founded in 1977 as a single location in Charlotte, our beloved brand continues to grow nationwide."
Like RBI, Bojangles uses a franchise model, which makes it dependent on the financial health of its operators. The company ultimately saw all its Maryland locations close due to the financial situation of one of its franchisees.
Unlike. RBI, Bojangles is not public — it was taken private by Durational Capital Management LP and Jordan Co. in 2018 — which means the company does not disclose its financial information to the public.
That makes it hard to know whether overall softness for the brand contributed to the chain seeing its five Maryland locations after a Chapter 11 bankruptcy filing.
Bojangles has a messy bankruptcy situation
Even though the locations still appear on the Bojangles website, they have been shuttered since late 2023. The locations were operated by Salim Kakakhail and Yavir Akbar Durranni. The partners operated under a variety of LLCs, including ABS Network, according to local news channel WUSA9.
The station reported that the owners face a state investigation over complaints of wage theft and fraudulent W2s. In November Durranni and ABS Network filed for bankruptcy in New Jersey, WUSA9 reported.
"Not only do former employees say these men owe them money, WUSA9 learned the former owners owe the state, too, and have over $69,000 in back property taxes."
Former employees also say that the restaurant would regularly purchase fried chicken from Popeyes and Safeway when it ran out in their stores, the station reported.
Bojangles sent the station a comment on the situation.
"The franchisee is no longer in the Bojangles system," the company said. "However, it is important to note in your coverage that franchisees are independent business owners who are licensed to operate a brand but have autonomy over many aspects of their business, including hiring employees and payroll responsibilities."
Kakakhail and Durranni did not respond to multiple requests for comment from WUSA9.
bankruptcy pandemicUncategorized
Industrial Production Increased 0.1% in February
From the Fed: Industrial Production and Capacity Utilization
Industrial production edged up 0.1 percent in February after declining 0.5 percent in January. In February, the output of manufacturing rose 0.8 percent and the index for mining climbed 2.2 p…
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Industrial production edged up 0.1 percent in February after declining 0.5 percent in January. In February, the output of manufacturing rose 0.8 percent and the index for mining climbed 2.2 percent. Both gains partly reflected recoveries from weather-related declines in January. The index for utilities fell 7.5 percent in February because of warmer-than-typical temperatures. At 102.3 percent of its 2017 average, total industrial production in February was 0.2 percent below its year-earlier level. Capacity utilization for the industrial sector remained at 78.3 percent in February, a rate that is 1.3 percentage points below its long-run (1972–2023) average.Click on graph for larger image.
emphasis added
This graph shows Capacity Utilization. This series is up from the record low set in April 2020, and above the level in February 2020 (pre-pandemic).
Capacity utilization at 78.3% is 1.3% below the average from 1972 to 2022. This was below consensus expectations.
Note: y-axis doesn't start at zero to better show the change.
The second graph shows industrial production since 1967.Industrial production increased to 102.3. This is above the pre-pandemic level.
Industrial production was above consensus expectations.
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