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Furniture Buying Index Drops Two Points

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The Furniture Buying Index drops another two points to a reading of 74. Consumers willingness to spend money continues to weaken as parents gear up for back-to-school shopping. Britt Beemer, Chairman of America’s Research Group, said, “the Index is still running above 70, which is good because should the Furniture Buying Index drop below 70 shopping levels in furniture stores could drop another 10 to 15 percent.” Beemer added, “in addition, significant increases at the supermarket are taking a toll on the American family.” 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. August 2005 index = 87 August 2006 index = 75 August 2007 index = 74 12 month low = 74 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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