May 2010 - INDEX CREAPS OVER ALL IMPORTANT 70 POINT LEVEL
Charleston, SC May 3, 2010 – The Furniture Buying Index rose another two points this month to a reading of 71. This is the sixth consecutive month the Index has experienced an increase.
Britt Beemer, Chairman of America’s Research Group, said, “Pent-up demand and larger than expected tax refunds helped drive the Index up two points this month.” “When the Index reaches 70 points or higher, the success of retail furniture sales goes up dramatically,” he stated.
“This is a good sign especially considering that Memorial Day weekend is historically a very strong furniture weekend,” he 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.
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.