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Big-box Retailers Bet On Home Organization As The Next Big Category
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As seen in Modern Retail
A variety of big-box retailers are investing more in home organization solutions, as they are looking for new ways to drive sales in home goods.
Year-over-year, home organization and storage grew at three times the rate of the overall home category from December 2020 to November 2021, according to research firm 1010Data. Walmart is launching new products in partnership with The Home Edit, an organization service with a Netflix Show. Meanwhile, Target launched a new private label, Brightroom, while the Container Store acquired custom closet solution Closet Works for $21.5 million.
The broader home category has been a lifeline for brands during the pandemic. Home-focused companies Wayfair and Bed Beth & Beyond reported comparable sales increases in the back half of 2020, during a time when many other retailers were struggling. Now, retailers are in search of new growth in the category and are betting storage containers will do the trick. With their respective launches, Walmart and Target are hoping consumers want to tidy up their homes in the new year.