Furniture Buying Index Inches Up Gradually

Furniture World Magazine

According to research performed by America’s Research Group, the Furniture Buying Index is up slightly to a reading of 76. The Index has been virtually stagnant over the past three months and gradually inching upward this month. Britt Beemer, Chairman of America’s Research Group, said, “Consumers are focused more on the outside of their home rather than the inside, which is why the Furniture Buying Index has made virtually no movement.” He continued, “Income tax refunds are not being filled as early this year, which is a reason for the sluggishness of the Index.” Beemer added, “Consumers still do not have extra cash from their income tax refund, and this lack of discretionary income has resulted in slow sales for furniture retailers.” April 2004 index = 90 April 2005 index = 89 April 2006 index = 76 12 month low = 75 12 month high = 89 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.