Furniture Buying Index Holds Steady
Furniture World Magazine
The Furniture Buying Index is holds steady this month at a reading of 71. The Furniture Buying Index is holding steady which indicates some furniture buying is occurring.
Britt Beemer, Chairman of America’s Research Group, said, “Consumers are still sorting out debts and Christmas spending bills.” Beemer continued, “While consumers are still buying furniture, it is not at the level dealers had hoped.”
Beemer added, “The positive news is that the Furniture Buying Index remains above 70, because levels under 70 reflect extremely weak sales performance for dealers. Dealers will need to be more promotional and creative in 2008 if they are to capture a fair share of consumers’ wallets.”
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.
January 2006 index = 84
January 2007 index = 81
January 2008 index = 71
12 month low = 71
12 month high = 84
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.