All Other Home Furnishings Retailers (U.S.) — NAICS 2022: 449129

An investor's primer for a general audience — relevant to both public-market and private investors. Core figures are cited to federal statistics; company and market figures to filings and named research; forward-looking statements are flagged as judgments.

1. Overview

This is the business of selling the "everything else" of the home — the kitchenware, dinnerware, glassware, bath goods, bed linens, lamps, candles, picture frames, and decorative housewares that fill a house after the furniture is in place [1]. It is the specialty-store slice of a much larger home-goods economy: federal statistics put the sales of these specialty retailers at about $65 billion a year across roughly 9,800 firms [2].

For an investor, the appeal and the danger are the same thing: this is a highly cyclical, thin-margin, discretionary category whose fortunes track housing activity and consumer confidence. Over 2023–2026 it produced one of retail's most dramatic shakeouts — Bed Bath & Beyond, Tuesday Morning, Big Lots, The Container Store, and At Home all passed through bankruptcy — while a smaller group (premium Williams-Sonoma; off-price HomeGoods) took share and prospered [11][14][16]. That split of spectacular failures alongside durable winners is the central story of the sector.

There are two ways to get exposure. Public markets offer a handful of listed retailers plus diversified companies that carry home goods as one line among several. Private markets hold most of the industry: independent shops, foreign-owned chains, private-equity and family-owned operators, suppliers and logistics businesses, and — a recent feature — lenders who took ownership of over-leveraged chains through restructuring. Names, tickers, and how-to-invest detail are in Sections 4 and 10.

2. What it is and how it is structured

Scope. NAICS — the North American Industry Classification System — code 449129 covers stores primarily engaged in retailing new home furnishings other than furniture, floor coverings, and window treatments [1]. In plain terms: kitchenware and housewares shops, chinaware and glassware stores, linen and bath shops, lamp stores, custom picture-frame shops, and wood-stove dealers [1]. In the 2017 and earlier NAICS editions this same industry was numbered 442299 (All Other Home Furnishings Stores); the 2022 revision renamed and renumbered it, so older data sits under 442299 [5]. The same 2022 revision also redistributed parts of the former electronic-shopping and direct-selling categories into merchandise-specific retail codes, so an online home-goods seller can overlap this category economically without being cleanly tagged to it [6].

What it explicitly excludes, and where those adjacent businesses sit [1]:

• Furniture → 449110 (Furniture Retailers)
• Floor coverings (rugs, carpet) → 449121 (Floor Covering Retailers)
• Window treatments (blinds, shades, curtains) → 449122 (Window Treatment Retailers)
• Lighting fixtures and mirrored glass → 444180 (Other Building Material Dealers)
• Electronics and appliances → 449210 (Electronics and Appliance Retailers)
• Used home furnishings → 459510 (Used Merchandise Retailers)
• Making blinds/shades (manufacturing, not retail) → 337920

Critically, the same merchandise sold by general-merchandise giants (Walmart, Target, Costco — department stores 455110 and warehouse clubs/supercenters 455211) and by online/mail-order sellers (Amazon, Wayfair — electronic shopping 4541) is not counted here. Those channels move far more home goods by dollar volume than the specialty stores in this code; 449129 captures the specialty-store channel only (see the Section 3 caveat).

Ownership mix. The base of the industry is thousands of small, often single-location independents — the neighborhood kitchen store, gift shop, or frame shop. Above them sit a few national chains split among publicly traded companies, private-equity-backed operators, foreign-owned and foundation-controlled groups, and — newly prominent — lender-owned businesses that emerged from restructuring. The federal data do not publish a public-versus-private split.

3. How big it is

Federal ground-truth figures for NAICS 449129:

Some rough unit economics fall out of these numbers: about $5.9 million in sales per establishment, roughly 12 employees per store, and average pay near $24,500 per worker — a low-wage, high-turnover retail workforce [2][3]. The SBA (U.S. Small Business Administration) size standard of $33.5 million is an eligibility threshold for federal small-business programs, not a typical-firm revenue estimate; still, the vast majority of firms in this code fall under it [4].

The undercount caveat — this matters here. The $64.9 billion figure is the specialty-store channel only. Broad market-research estimates that count every channel put total U.S. "home décor" spending at roughly $190–215 billion in 2025, with one forecast reaching about $263 billion by 2030 [7][8]. The gap is real: most Americans buy their sheets, glassware, and décor at Walmart, Target, Costco, Amazon, and Wayfair, all classified in other NAICS codes. Two further undercounts apply — County Business Patterns counts only employer establishments, so the long tail of nonemployer sole-proprietor shops (independent frame shops, boutiques, artisan sellers) is omitted [3]; and the census can tag a store to this code only if home furnishings is its primary line. Treat $64.9 billion as the size of the specialty channel, not of consumer spending on these goods.

4. The investable universe

There is no large, pure-play public company that sits entirely inside NAICS 449129. Major listed players combine these products with furniture, flooring, appliances, general merchandise, or services. The closest large-cap, Williams-Sonoma, straddles this code and furniture; the biggest home-goods chain of all, HomeGoods, is a division of a much larger off-price parent. The rest is a mix of micro-caps, private chains, and lender-owned survivors.

Public companies (tickers; approximate scale/role):

Major private and other owners:

• IKEA — the store network is operated mainly by Ingka Group, which is owned by the INGKA Foundation (private; Netherlands/Sweden) [20].
• Crate & Barrel Holdings (Crate & Barrel, CB2, Crate & Kids, Hudson Grace) — part of Germany's privately held Otto Group [21].
• The Container Store — emerged from a prepackaged Chapter 11 in early 2025 owned by its former lenders (~$850M revenue), then was acquired by Bed Bath & Beyond, Inc. on July 8, 2026 and is being overhauled under that owner [14][15].
• At Home — private big-box décor operator; filed Chapter 11 in June 2025, shed roughly $2 billion of debt, and emerged owned by its creditors; its restructuring update reports about 229 stores open [16][17].
• Hobby Lobby (Green family), Sur La Table, Cost Plus World Market, Michaels (custom framing), and many regional/independent specialists — privately held.
• Mass merchants (Walmart, Target, Costco, Amazon) sell enormous home-goods volume but are not in this code.

The practical takeaway for a public-market investor: Williams-Sonoma and TJX are the two clean, quality ways to own this theme. Everything else on the listed side is either adjacent (furniture) or a speculative micro-cap turnaround. Most of the industry's economic mass is only reachable privately.

5. How the money works

Owners here make money on the spread between what they pay for merchandise and what they sell it for, minus the cost of the store. The metrics that matter are retail's standard toolkit applied to a discretionary, seasonal category:

• Comparable-store sales ("comps"). Year-over-year sales from stores open at least a year — the cleanest read on whether a chain is healthy or declining.
• Gross (merchandise) margin. Off-price players run in the low-30s percent — TJX's gross margin was about 32.6% in a recent quarter [11]. Premium vertically integrated players earn more: Williams-Sonoma runs an operating margin near the high-teens (about 17.5–18%), unusually high for retail, because it designs and brands its own goods and sells much of it directly online [9].
• Inventory turns, sell-through, aged inventory, and markdown rate. Home goods are bulky, seasonal, and fashion-driven; slow-turning inventory that must be marked down is the fastest way to destroy margin. Cash is tied up in inventory — buy the wrong style or buy too early and you eat markdowns; buy too little and you lose the sale.
• Sales per square foot and occupancy cost (rent as a share of sales), plus four-wall economics — whether an individual store covers its own costs. Rent is the big fixed cost that turns a sales dip into a loss.
• Digital penetration and its economics — average order value (AOV), customer-acquisition cost (CAC), return rate, and fulfillment/delivery cost. Online broadens assortment but adds marketing, parcel shipping, damage, and returns.

Two winning models have pulled apart from the pack:

1. Premium, vertically integrated, direct-to-consumer (Williams-Sonoma). Design and brand your own product, sell it at full price mostly online and through your own stores, and keep the margin a middleman would otherwise take [9].
2. Off-price "treasure hunt" (HomeGoods / TJX). Buy other retailers' and manufacturers' excess and cancelled inventory opportunistically, price it low, turn it fast, change the assortment constantly, and lean on stores rather than e-commerce [10][11].

The squeezed middle — leveraged, mid-price, big-box chains selling commodity home goods (Bed Bath & Beyond, At Home, Big Lots, The Container Store) — is where the money stopped working. These businesses often carried heavy debt from private-equity ownership; when demand dipped and import costs jumped, thin margins turned negative and the debt did the rest [16]. Net margins in this industry are low single digits in a good year, so operating leverage (rent) and financial leverage (debt) both cut hard on the way down.

The federal statistics contain no category-level margin, inventory-turn, comp-sales, or e-commerce-profitability data; the figures above come from company filings and named research, not the census.

6. What drives demand

• Housing turnover / existing-home sales — the single biggest cyclical driver. People furnish and re-décor when they move, and Federal Reserve research finds home purchases trigger large jumps in furnishings spending. With mortgage rates elevated and the resale market subdued, housing activity has stayed soft: in May 2026, U.S. housing starts ran at a seasonally adjusted annual rate of 1,177,000 units, down 8.7% from a year earlier, with building permits at 1,413,000 [29].
• New construction and household formation. Housing starts and new households create first-time furnishing demand.
• Renovation and an aging housing stock. A second, somewhat less move-dependent demand pool. Harvard's Leading Indicator of Remodeling Activity (LIRA) projected homeowner remodeling-spending growth of about 2.1% in mid-2026 easing to 1.6% by year-end, with homeowner improvement spending reaching roughly $518 billion by the end of 2026 [28].
• Discretionary income and confidence. These are deferrable purchases; when budgets tighten, a new set of dishes waits.
• The pandemic cycle. 2020–2021 "nesting" pulled demand forward dramatically; 2022–2024 was the payback and normalization that helped push weaker chains under.
• Seasonality and gifting. The fourth-quarter holidays and spring refresh concentrate sales; housewares are heavily gifted, and weddings/registry demand adds a steady base.
• Channel shift and trend cycles. E-commerce reached 16.9% of total U.S. retail sales in Q1 2026 (the 449129-specific share is not published) [30], and social platforms — Instagram, Pinterest, TikTok — drive fashion-like demand spikes in specific categories and colors.

7. Regulation

Retailing itself is lightly regulated at the federal level; the binding rules govern the products sold and, increasingly, the cost of importing them.

• Product safety — CPSC. The Consumer Product Safety Commission enforces safety standards on housewares. The Flammable Fabrics Act (FFA) (1953, expanded 1967) sets flammability standards for textiles, rugs, mattresses, and related goods; the CPSC also maintains candle fire-safety standards and lead/phthalate limits (heavier on children's items) [23]. Retailers must monitor recalls, stop selling recalled products, and promptly report information suggesting a product may pose a substantial hazard [23].
• Import certification — CPSC eFiling. Importers of regulated goods provide retailers a General Certificate of Conformity (GCC) or, for children's products, a Children's Product Certificate (CPC). Beginning July 8, 2026, importers of most regulated consumer products must electronically file certificate data with U.S. Customs and Border Protection (CBP) through the CPSC's eFiling process — a new compliance burden that falls hardest on direct-import and private-label retailers [24].
• Labeling — FTC. The Federal Trade Commission's Textile Fiber Products Identification Act and Wool Products Labeling Act require fiber-content, country-of-origin, and care labeling on linens and textiles [25]. Unqualified "Made in USA" claims require a product to be "all or virtually all" made in the United States [26].
• Electrical safety. Lamps and electric goods are typically sold with UL (Underwriters Laboratories) listings — a private standard, but effectively mandatory because insurers and large retailers require it.
• Imports and tariffs — the dominant policy variable now. Much of this category is imported, historically a large share from China (estimated at about 27.7% of U.S. home-goods imports). U.S. Trade Representative (USTR) Section 301 tariffs and the sharp 2025 escalation (peaking at reported rates as high as 145% on some Chinese goods) directly raise merchandise cost for a heavily import-dependent, thin-margin category — a proximate cause cited in the At Home bankruptcy [18][16].
• Sales tax. The Supreme Court's South Dakota v. Wayfair (2018) let states require out-of-state and online sellers to collect sales tax, leveling the field between stores and e-commerce while adding a multi-state compliance burden [27]. State chemical-warning regimes (e.g., California's Proposition 65) add further product-labeling obligations.

8. Competitive dynamics and consolidation

The industry is fragmented but topping out — a concentrated national layer sitting atop a very long tail of small independents. Federal concentration data show a Herfindahl-Hirschman Index (HHI) of just 802.6, well within the "unconcentrated" range, yet the four largest firms already hold 51.3% of the specialty channel's sales, the top eight 65.4%, the top twenty 74.7%, and the top fifty 79.9% [2].

Specialty retailers are squeezed from three directions at once: mass merchants (Walmart, Target, Costco) win on price and one-stop convenience; online sellers (Amazon, Wayfair) win on selection; and off-price (HomeGoods) wins on value and the treasure-hunt experience. Scale advantages — purchasing and freight leverage, demand-forecasting systems, private-label development, omnichannel fulfillment, and spreading technology/compliance/marketing costs — accrue to the largest players, leaving the mid-price specialty store in the weakest position.

The result was a distress wave in 2023–2026 that reshaped the industry:

• Bed Bath & Beyond collapsed and liquidated its entire store fleet in 2023; its brand and IP were bought by Overstock, which renamed itself Bed Bath & Beyond, Inc. and is reviving the name online and through small-format stores [12].
• Tuesday Morning liquidated (2023) and Big Lots filed Chapter 11 (2024), with parts of its footprint acquired and re-opened by other operators.
• The Container Store filed a prepackaged Chapter 11 in December 2024, wiped out roughly $88M of debt, and emerged private under its lenders in about 35 days [14] — then was acquired by Bed Bath & Beyond, Inc. on July 8, 2026 and put through a nationwide overhaul [15].
• At Home filed Chapter 11 in June 2025, eliminated nearly $2 billion of debt, and emerged owned by its creditors with about 229 stores open [16][17].

A distinct new pattern is brand recycling — distressed but recognizable brands (Bed Bath & Beyond, Overstock, buybuy Baby, Kirkland's Home, The Container Store) consolidated under Bed Bath & Beyond, Inc. and its store-operating partner The Brand House Collective into an asset-light, license-plus-store revival [13][15]. The opportunity for buyers is operational improvement; the danger is overpaying for weak brands, underestimating working-capital needs, or assuming store and technology synergies arrive quickly. Whether the model works is, at this point, unproven.

9. Risks

• Cyclicality. Demand is tied to housing turnover and discretionary spending, both of which fall sharply in downturns and when mortgage rates are high [29].
• Import-cost / tariff shock. A China-heavy supply chain against thin margins means a tariff jump lands almost directly on profit; 2025 made this the defining risk [18][16].
• Channel disintermediation. Mass merchants and online marketplaces continually pull volume out of the specialty channel — the same dynamic that makes the federal figures an undercount — and raise price transparency and customer-acquisition costs.
• Inventory and markdown risk. Seasonal, fashion-driven goods that don't sell must be discounted, and discounts fall straight through to the bottom line.
• Leverage and fixed cost. Many casualties were over-levered from private-equity ownership; rent plus debt give these store-heavy businesses two forms of leverage that both bite in a downturn [16].
• Product liability. Defects, recalls, fire hazards, chemical exposure, or mislabeling can hit cash flow and brand trust and, under CPSC rules, force reporting and removal.
• Supplier concentration, cybersecurity, and labor. A few factories or vendors can disrupt supply; retailers hold payment and customer data and rely on third-party technology; rising wages and consumers trading down to mass/off-price both pressure the specialty model.
• Low barriers at the small end. Easy entry for independents keeps the base fragmented and competitive while scale buying power accrues to the largest players — a structural squeeze on the middle.

10. How to invest and the outlook

Public routes.

• Williams-Sonoma (WSM) — the quality large-cap: a premium, self-branded, digitally led model with retail-leading margins, a dividend, and buybacks [9]. The cleanest way to own the "winning" premium model.
• TJX (TJX) — diversified off-price, with HomeGoods as a genuine growth engine; note you are also buying its apparel business, so it is a diffuse rather than pure home-goods play [10][11].
• Speculative micro-caps — Bed Bath & Beyond, Inc. (BBBY) and The Brand House Collective (TBHC) are turnaround/brand-revival bets with real bankruptcy history and unproven models; high risk [12][13]. RH, Arhaus (ARHS), Wayfair (W), and Urban Outfitters (URBN) give adjacent home-goods exposure.
• Funds — there is no pure-play home-furnishings ETF; broad retail ETFs (for example SPDR S&P Retail, XRT; VanEck Retail, RTH) offer only diffuse exposure.

Whatever the label, evaluate direct category exposure, not the industry code: comp-sales quality, gross-margin resilience, inventory aging, cash generation, debt and lease obligations, sourcing flexibility, private-label penetration, and management's ability to close or remodel stores.

Private routes. Most of this industry is not investable on a public exchange. Institutional capital has lately played the space through distressed debt and restructuring — several major chains are now owned by the lenders who converted loans to equity in bankruptcy (Container Store, At Home) [14][17]. Foreign strategics (Otto Group, Ingka/IKEA) and private-equity/family holders own most of the rest. At the small end this is a classic small-business ownership industry — thousands of independent kitchen, gift, and frame shops under the SBA's $33.5M size standard [4]. Adjacent private plays include suppliers and logistics, retail software, payments, asset-based lending, and minority stakes in founder-owned operators; diligence should center on normalized store-level earnings, repeat-purchase behavior, inventory liquidation value, supplier terms, import compliance, lease flexibility, and realistic integration costs.

Outlook (forward-looking judgment). Near-term demand is gated by two variables largely outside operators' control: housing turnover (which needs lower mortgage rates to thaw) and import costs (which need tariff stability). A rate cut that unfreezes existing-home sales is the clearest upside catalyst; further tariff escalation is the clearest downside; remodeling should provide modest support. The base case is an uneven recovery, not a synchronized boom. Structurally, the barbell keeps winning — premium direct-to-consumer at one end, off-price scale at the other — while the leveraged mid-price big-box model stays challenged, and further store rationalization and consolidation look likely. The brand-recycling experiments now underway are the sector's most interesting wildcard, but they remain speculative until they show sustained sales; distressed acquisitions will reward operational discipline over financial engineering.

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Sources

1. U.S. Census Bureau, "2022 NAICS: 449129 All Other Home Furnishings Retailers" (definition and index of primary activities). https://www.census.gov/naics/?details=449129&input=449129&year=2022
2. U.S. Census Bureau, 2022 Economic Census — establishment/firm size and concentration, NAICS 449129 (receipts $64,851,987 thousand; 9,761 firms; CR4 51.3%, CR8 65.4%, CR20 74.7%, CR50 79.9%; HHI 802.6). https://data.census.gov/table/ECNSIZE2022.EC2200SIZECONCEN
3. U.S. Census Bureau, County Business Patterns 2023, NAICS 449129 (11,046 establishments; 137,006 employees; annual payroll $3,363,368 thousand; Q1 payroll $893,044 thousand). https://www.census.gov/programs-surveys/cbp/data/datasets.html
4. U.S. Small Business Administration, Table of Small Business Size Standards (13 CFR §121.201), NAICS 449129 ($33.5 million average annual receipts) (2023). https://www.sba.gov/document/support-table-size-standards
5. U.S. Census Bureau / NAICS Association, "NAICS Code 442299 — All Other Home Furnishings Stores" (2017 edition; predecessor to 449129). https://www.naics.com/naics-code-description/?code=442299
6. U.S. Bureau of Labor Statistics, "2022 North American Industry Classification System Revision." https://www.bls.gov/respondents/ars/2022-naics.htm
7. Mordor Intelligence, "United States Home Decor Market — Size, Trends & Forecast" (2025). https://www.mordorintelligence.com/industry-reports/us-home-decor-market
8. Barchart / Mordor Intelligence, "United States Home Decor Market Expected to Reach USD 263.21 Billion by 2030" (2025). https://www.barchart.com/story/news/36347594/united-states-home-decor-market-expected-to-reach-usd-263-21-billion-by-2030
9. Williams-Sonoma, Inc., Form 10-K and fiscal-year earnings releases (net revenue ~$7.7B; operating margin ~17.5–18%). https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000719955&type=10-K
10. The TJX Companies, Inc., Form 10-K / quarterly earnings releases (HomeGoods store count and segment sales). https://investor.tjx.com/financial-information
11. Retail Dive, "Off-price retailers TJX, Ross, Burlington neutralize tariff impact" (TJX gross margin ~32.6%; off-price model) (2025). https://www.retaildive.com/news/off-price-retailers-tjx-ross-burlington-neutralize-tariff-impact/806861/
12. Bed Bath & Beyond, Inc. (formerly Beyond, Inc./Overstock.com), "Beyond, Inc. Changes Name to Bed Bath & Beyond, Inc. and Reclaims Ticker Symbol BBBY" (2025). https://investors.beyond.com/news-events/press-releases/default.aspx
13. PR Newswire / SEC 8-K, Kirkland's Q1 FY2025 results and rebrand to The Brand House Collective (Nasdaq: TBHC), ~$431M revenue (2025). https://www.prnewswire.com/news-releases/kirklands-reports-first-quarter-fiscal-2025-results-302483222.html
14. Retail Dive, "The Container Store exits Chapter 11 bankruptcy" (prepackaged filing Dec 2024; ~$88M debt cut; lender-owned) (2025). https://www.retaildive.com/news/the-container-store-exits-chapter-11-bankruptcy/738572/
15. Bed Bath & Beyond, Inc., Form 8-K "Completion of The Container Store Acquisition" and "The Container Store Launches Nationwide Overhaul" (acquisition completed July 8, 2026). https://investors.beyond.com/news-events/press-releases/default.aspx
16. Retail Dive, "At Home files Chapter 11 bankruptcy, blames tariffs, consumer uncertainty" (2025). https://www.retaildive.com/news/at-home-files-chapter-11-bankruptcy-blames-tariffs-consumer-uncertainty/750784/
17. Retail Dive, "At Home exits bankruptcy, eliminates $2B debt, most stores open," and At Home "Official Restructuring Update" (~229 stores open). https://www.retaildive.com/news/at-home-exits-bankruptcy-eliminates-2b-debt-most-stores-open/803838/
18. Forbes, "How Tariffs on China Are Reshaping the Home Goods Sector" (China ~27.7% of U.S. home-goods imports; 2025 tariff escalation) (2025). https://www.forbes.com/sites/brinsnelling/2025/05/02/how-tariffs-on-china-are-reshaping-the-home-goods-sector/
19. Wayfair Inc., "Fourth Quarter and Full Year Results" (investor relations). https://investor.wayfair.com/news/default.aspx
20. IKEA Foundation / Ingka Group, "Funding and Governance" (Ingka Group owned by the INGKA Foundation). https://ikeafoundation.org/our-funding-and-governance/
21. Crate & Barrel Holdings / Otto Group (Crate & Barrel, CB2, Crate & Kids, Hudson Grace under Germany's privately held Otto Group). https://www.ottogroup.com/en/
22. Hobby Lobby Newsroom, "Corporate Background / Our Story" (Green-family private retailer). https://newsroom.hobbylobby.com/corporate-background
23. U.S. Consumer Product Safety Commission, "Flammable Fabrics Act (FFA)" and "Retailers: Product Safety and Your Responsibilities." https://www.cpsc.gov/Business--Manufacturing/Business-Education/Business-Guidance/Retailers-Product-Safety-and-Your-Responsibilities
24. U.S. Consumer Product Safety Commission, "Certificates of Compliance and eFiling" (CPC/GCC; electronic filing to CBP begins July 8, 2026). https://www.cpsc.gov/Business--Manufacturing/Business-Education/Business-Guidance/Certificates
25. Federal Trade Commission, "Threading Your Way Through the Labeling Requirements Under the Textile and Wool Acts" / Apparel and textile labeling. https://www.ftc.gov/business-guidance/resources/threading-your-way-through-labeling-requirements-under-textile-wool-acts
26. Federal Trade Commission, "Complying with the Made in USA Standard." https://www.ftc.gov/business-guidance/resources/complying-made-usa-standard
27. Oyez / U.S. Supreme Court, South Dakota v. Wayfair, Inc., 585 U.S. 162 (2018). https://www.oyez.org/cases/2017/17-494
28. Harvard Joint Center for Housing Studies, Leading Indicator of Remodeling Activity (LIRA), "Remodeling Growth Set to Downshift in Late 2026" (~2.1% mid-2026 easing to 1.6%; ~$518B homeowner improvement spending). https://www.jchs.harvard.edu/blog/remodeling-growth-set-downshift-late-2026
29. U.S. Census Bureau, "Monthly New Residential Construction, May 2026" (starts SAAR 1,177,000, down 8.7% y/y; permits 1,413,000). https://www.census.gov/construction/nrc/current/
30. U.S. Census Bureau, "Quarterly Retail E-Commerce Sales, First Quarter 2026" (e-commerce 16.9% of total retail). https://www.census.gov/retail/eCommerce.html