HomeGoods is thriving during the pandemic. Young people have been investing in their home spaces this year, and YPulse’s No Place Like Home trend report found that 78% of 13-39-year-olds are trying to make their home a nicer place to spend time because of COVID-19. TJX Companies has been seeing much success as quarantined young consumers turn to their brand HomeGoods for home-based products and decor. According to the company, HomeGoods generated 15% open-only comparable store sales in its latest compared to last year, reaching $1.9 billion. They’re gearing up to launch their first full ecommerce site during the second half of 2021 to accommodate more online shoppers. Said one executive: “We believe the launch of homegoods.com next year could expand the consumer base and attract a younger consumer.” (Sourcing Journal, Retail Dive)
