Insight Flash: CE Data Reveals Market Gains for Home Furnishings Stores Near Christmas Tree Shops Closures
Home goods retailer Christmas Tree Shops (CTS) has started closing its stores since filing for bankruptcy in May 2023. CE Transaction data is showing strong market share gains for Homegoods (+4% y/y) among cardholders that live in the areas of the recent CTS store closures (based on cardholder 3-digit ZIP), with Kirkland’s (+1% y/y) also seeing a bump. These gains could signal that the Brick & Mortar operations of those banners may benefit more broadly as CTS continues to shutter stores.
Cross-shop data can reveal which brands could stand to benefit the most from another company’s woes. Focusing the analysis on Brick & Mortar locations since CTS does not sell online, CE Transaction data shows that overall customer overlap is highest with Homegoods, Bed Bath & Beyond, At Home, Ikea, and Cost Plus World Market.
Consumer Edge is the leading provider of alternative data for consumer spending behavior, and the only provider of global revenue signals. If you’d like to benefit from using Transact US or other products for home furnishings, retail, and other industry data year-round to track trends and dynamics like these, reach out to insights@staging.consumer-edge.com.
