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--Shoppers still have furniture on radar screen--
Charleston, SC-- June 1, 2000 - --- The Furniture Buying Index held
at the same level as last month, 89, even in the face of end-of-the-school-year
events, transitions and activities.
Britt Beemer, chairman and senior retail analyst of America's Research
Group, said today that the Index holding at the same level indicates
just how strong furniture buying intentions are.
"The end of the school year always brings a major distraction
to many furniture-buying households," he added. "Our research
shows even with graduations, summer plans, vacations and such, shoppers
are still intent on improving the interiors of their homes."
"Some manufacturers are reporting a slight slowdown in orders,
but you have to understand that what's slowing is the rate of growth
compared to last year, which was a very, very good year. The fact
that furniture has not left the consumer radar screen shows just
how much strength there is in this current market," Mr. Beemer
stated.
"And, what really excites me about this continued strength
is the potential for the balance of the year, not necessarily the
rest of the second quarter or early third, but if this level holds
to the last few months of the year, I believe it will set the stage
for a terrific year-end. You could see double-digit sales increases
in the 4th quarter compared to 1999," Mr. Beemer 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. This month's reading, 89, means that some
71% of American households have definite plans to purchase furniture.
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.
For more information call:
C. Britt Beemer or P. Michael Kelly
800-723-3253
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