2015 Buyer's Guide — Patio Data
Note: The estimate of patio specialty retailers in the U.S. and Canada is derived from Hearth & Home’s circulation database. All other data are from recent surveys.
| FAST FACTS | ||||||||||||||||
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| ▲ | Patio Furnishings Specialty Retailers - U.S. |
1,963 |
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| ▲ | Specialty Retailer Gross Revenues - Patio furnishings and accessories |
U.S. |
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| ▲ | Average Average sales ticket (U.S.) in 2012 |
$1,949 |
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| ▲ | Percent of Patio Specialty Retailers with indoor and outdoor patio selling areas |
54% |
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| ▲ | Indoor patio selling area (median sq. ft.) |
4,000 |
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| ▲ | Outdoor patio selling area (median sq. ft.) |
3,000 |
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| ▲ | Average number of manufacturers from whom retailers purchased furniture in 2014 |
9 |
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| ▲ | Patio Retailers operating more than one store |
22% |
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| ▲ | Patio sales made up by special orders in 2014 |
41% |
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| ▲ | Average number of years retailing patio furnishings |
22 |
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| Through The Years U.S. Sales of Patio Furnishings |
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U.S. sales of patio furnishings though the specialty retailer network posted the best year-over-year increase in this century. |
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| Patio Retailers’ Product Mix | |||
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| Product Category | % Retailers Selling | ||
| Patio | 33% | ||
| Patio | Hearth | 9% | |
| Patio | Hearth | Barbecue | 35% |
| Patio | Barbecue | 23% | |
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Close to half (44%) of patio furnishings retailers also sell hearth products; 58 percent also sell barbecue products. |
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| Retailers’ Market Area | |
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Sixty-six percent of patio furnishing retailers are in market areas with populations over 100,000. |
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| Years Retailing Patio Furnishings | |
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Sixty-five percent of respondents have been retailing patio furnishings for more than 15 years. |
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| Number of Patio Furnishings Retail Stores Operated | |
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Twenty-two percent of responding specialty retailers operate more than one store. |
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| Derivation of Gross Revenues | |
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In 2014, responding patio furnishings retailers derived 51 percent of their gross revenues from Outdoor Furniture and Wicker & Rattan; Hearth Products accounted for 13 percent and Barbecue Products 12 percent. |
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| Retail Sales of Outdoor Furniture and Related Accessories 2014 |
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Twenty-three percent of patio dealers gross over $1million in patio products alone. |
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| Patio Products Selling Area | |
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Close to half (47%) of responding patio retailers devote at least 5,000 indoor sq. ft. in season to the category. |
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| Compared to a Year Ago Retailers Up, Down, Same |
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More than half (52%)of responding retailers had better patio sales in 2014 than in the prior year. |
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| Patio Retailer Margins in 2014 Actual vs Target | |
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Seventy-nine percent of patio retailers did not realize their targeted margins in 2014, 11 percent exceeded their target and 10 percent hit their goal. |
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| Percent of Business Over the Internet |
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Seventy-three percent of patio specialty retailers reported that they did not have any revenue transactions for patio furnishings over the Internet in 2014. |
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| Purchase From How Many Manufacturers? | |
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About a quarter (24%) of patio retailers purchased from more than 10 manufacturers. |
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| Purchase From How Many Manufacturers Compared to Three Years Ago |
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Most retailers stayed with the same number of suppliers, however, 14 percent purchased from fewer manufacturers, and 18 percent from more. |
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| Gross Revenue by Category 2014 |
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Outdoor furniture accounts for only 45% of the average patio retailer’s sales; hearth and barbecue products account for another 25%. |
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| Special Orders as Percent of Patio Revenues | |
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In 2014, special orders accounted for more than half of patio revenues for 29 percent of responding retailers. |
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| Actual Gross Margin | |
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Forty-three percent of patio retailers reported actual gross margins greater than 40 percent. |
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| Retailers’ Expectations Sales Outlook for 2015 vs. 2014 | |
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In all areas of the country, patio retailers are forecasting a strong year once again. |
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Sales Expectations for 2015
| Retailers with a BETTER 2014 than 2013 | |
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| Retailers with a 2014 the SAME as 2013 | |
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| Retailers with a LOWER 2014 than 2013 | |
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Eighty-one percent of patio retailers who had a better 2014 than 2013, and 45 percent who had a lower 2014 than 2013, believe this year will be a better sales year than 2014.
