Americas Research Group announced that The Furniture Buying Index remains flat this month at a reading of 57. Unemployment and job concerns leave the furniture Index at the current level.
Britt Beemer, Chairman of America’s Research Group, said, “With more consumers out of work and even more fearing their job security, Americans are delaying big ticket purchases such as furniture.”
“As people find jobs and as job security becomes less an issue, furniture stores should see more shoppers,” Beemer commented. “But, this is not good news considering the importance of the fall selling season, and the fact that it will be at least 10-12 months before Americans begin shopping in earnest again,” he concluded.
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.
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.