Furniture Buying Index Holds Steady For August

Furniture World Magazine

The Furniture Buying Index compiled by America's Research Group remains the same this month at a reading of 75. While the Index holds steady, it is not as high at it has been in the past few years with reading as high as 91 in the summer of 2004. Britt Beemer, Chairman of America’s Research Group, said, “With Labor Day Weekend a critical sales weekend, this low but steady index does not bode well for Labor Day furniture sales.” He continued, “On the other hand, it is good that the index is holding steady and is not declining. While a steady index indicates steady sales, a decline would indicate a reduction in furniture sales, so a steady index is a positive sign.” Beemer added, “Generally, Labor Day weekend is a large sales weekend for furniture retailers, and furniture retailers will have to become inventive with their advertising over the holiday weekend to draw consumers into their stores.” 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 = 91 August 2005 index = 87 August 2006 index = 75 12 month low = 75 12 month high = 87 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.