In 2022, the US imported home textiles worth US $ 22.025 billion, marking the second year of a declining trend. Due to personal preferences and economic concerns, home textiles segment, after a steep rise in imports during 2020, is facing hurdles.
The Asia-Pacific region accounted for 81 per cent of the US imports amounting to US 18 billion, making it the largest supplier.
Record growth in imports was seen in 2020, reaching US $ 32 billion, up from US $ 18 billion in 2019, largely due to lockdowns related to Covid, making people stay at home and making demands surge.
Imports have been on a downward trend since 2021, where imports dropped to US $ 24 billion and due to changing consumer preferences the downward trend continues since people preferred to buy garments instead of home textiles as lockdowns eased.
High inflation and unemployment in the latter half of 2022, dried up consumers’ pockets so that discretionary purchases like home textiles and garments became less viable. Brands also struggled to clear stock in their showrooms and had to slow down sourcing, with some even postponing or cancelling purchase orders.
Source: https://apparelresources.com/