Furniture Buying Index Drops Another Three Points
Furniture World News
In November, the Furniture Buying Index dropped another three points to a reading of 72. Consumers concern about making big ticket purchases drives down desires to buy furniture at the present time.
Britt Beemer, Chairman of America’s Research Group, said, “This is not good news for the furniture industry because the fall selling season is the highlight of the year for furniture shopping.” He continued, “Retailers will need to be even more promotional.”
Beemer added, “Offering bigger discounts and greater savings will be needed for retailers to hit last year’s sales figures.”
The Furniture Buying Index is compiled each month by America's Research Group from interviews with 5,000-8,000 consumers across the country. In a typical month, 80 percent of the consumers interviewed can name a specific furniture item they intend to buy. The Index=s mark signifies what percent of the benchmark 80% actually have a particular item in mind.
November 2005 index = 77
November 2006 index = 76
November 2007 index = 72
12 month low = 72
12 month high = 83
Britt Beemer is chairman of America's Research Group, a full-service consumer behavior research company based in Charleston, SC. ARG provides research and strategic planning services to leading manufacturers and retailers of consumer goods across North America.
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