Furniture Index Remains Steady

Furniture World Magazine

Consumers' plans for furniture buying this fall may not have decreased, but they only remain steady. The National Furniture Buying Index is at 72 in October and has not changed since September. "Consumers are in a buying holding pattern, like an airplane circling above the runway, waiting to land," announced Britt Beemer, chairman of America's Research Group. "This stall is partly due to uncertainty in the stock market and the Asian economy crisis. These two situations are having a tremendous dampening effect on consumer spending this fall." "National issues surrounding the President are also taking their toll. Continuing concern over the situation has Americans reluctant to buy furniture. Now that people know the details, they are waiting to see what the next step will be. So at this point, shoppers are in limbo. Consumers are not driven to spend money when their confidence in the President is shaken," Beemer said. "The good news is that shoppers' plans for furniture buying have not decreased. But their hesitation to increase spending plans will disappoint many retailers this fall," Beemer concluded. The Furniture Buying Index predicts consumer spending activities for home furnishings and other large ticket items in the coming year. Opinion data is collected through thousands of consumer interviews conducted throughout the month. Britt Beemer has over twenty years experience in gathering, analyzing and interpreting consumer behavior data for companies interested in increasing their market share. He is the author of Predatory Marketing, available in both hardback and paperback, and chairman of America's Research Group, located in Charleston, SC.