Consumer Study From Shullman Research Reveals Furniture Buying Trends For 2013
Furniture Industry News Update -
Furniture World Magazine
The future looks bright for the home furnishings/furniture industry, as America’s affluent plan to spend more next year on remodeling or redecorating their homes, according to the first-ever Shullman Luxury & Affluent Monthly Pulse, just released by the Shullman Research Center.
This new monthly insights survey, created by affluent research guru Bob Shullman, covers what’s on the affluent consumers’ minds, including their current view of the U. S. economy and their own financial situations, as well as their spending plans for the next 12 months. A total of 1005 affluents in four sample Household Income groups were surveyed: $75,000 to $149,999; $150,000 to $249,999; $250,000 to $499,999; and $500,000 plus. This is a significant demographic group because the affluents represent the lion’s share of spending for all consumer goods and services.
The following comments apply to the attached presentation "Through The Looking Glass: The Home Markets in 2013 - What's Really on Consumer's Minds" pdf that can be downloaded from the furninfo.com website by clicking here.
Overall, more than 76% of the affluent think the U. S. economy is Doing Better/Same today compared with 12 months ago (Slide #7). At the same time, almost 66% are Very Satisfied/Satisfied with their own personal financial situation at this time (Slide #9), while almost 64% believe they will Definitely/Most Likely be better off financially 12 months from now (Slide #10).
When asked about their spending plans if the economy continues to improve,
38% say they will Increase A Lot/or Slightly More in the year ahead (Slide #11).
For the Home category, these findings show that 22% plan to remodel or redecorate a room next year, while over 21% plan to redecorate their home (Slide # 14).
Regarding the use of Home-Related Professionals Used In The Past 12 Months,
As for Remodeling Or Renovating Room Plans (Slides # 17-22); Redecorating Plans (Slides #23-25).
Putting all of these “Plan-To’s” together, it’s clear that 2013 bodes well for everyone in the Home category, as affluents are ready to get back into the game.
“Affluents have always been the drivers of our economy,” noted Bob Shullman, President of the Shullman Research Center, “ and the view from the driver’s seat is now more upbeat than we’ve seen in several years.”
For more information on the Shullman Research Center or to sign up for their e-newsletter, contact Bob Shullman at 203-990-0541 or email firstname.lastname@example.org.
A full explanation of the the services the Shullman Research Center provides can be found at www.shullman.net.
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