By Shefali Kapadia
Around the Bob’s Discount Furniture office, corporate has a saying: “Value is always in vogue,” according to Ramesh Murthy, the retailer’s COO.
That philosophy has enabled Bob’s to expand at a time when the overall home retail category is stagnating. Furniture and home furnishings store sales have fallen since their peak of $12.7 billion in January 2023 to $11.8 billion this May.
Meanwhile, Bob’s announced plans to open 20 new stores this year. Fellow furniture retailer Ikea is opening eight new locations across the U.S. this spring and summer.
While these two retailers differ greatly, they share commonalities that cater to today’s consumer and have been instrumental in their expansion despite category softness: a focus on low prices and a penchant for convenience that seamlessly blends online and in-store shopping into a true omnichannel experience.
SHEFALI KAPADIA 