Furniture Buying Index Steady Since February

Furniture World Magazine

The Furniture Buying Index is down by one point to a reading of 76. The Index is still not as strong as it was in January, but has remained steady since February. Britt Beemer, Chairman of America’s Research Group, said, “Because the Furniture Buying Index has remained fairly consistent since the beginning of the year, furniture retailers have not seen much change in sales growth.” He continued, “Consumers are cautious about furniture buying because of higher gas prices, and many consumers will wait until Fall to see how gas prices will affect their furniture buying decisions.” Beemer added, “With the summer holidays approaching, furniture retailers will have to advertise ‘hot deals’ to combat this cautious consumer.” June 2004 index = 91 June 2005 index = 89 June 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.