June 2011 - FURNITURE BUYING INDEX DROPS ONE MORE POINT
Charleston, SC June 1, 2011 – The Furniture Buying Index dropped another point this month to a reading of 74. This drop moves the Index back to the February, 2011 reading.
Britt Beemer, Chairman of America’s Research Group, said, “The Furniture Buying Index dropped another point this month since consumer confidence remains low and consumers are cautious of spending money on big ticket items.”
“As consumers focus on paying down debt, they are attempting to pay for purchases with cash/check,” he added. “This cash attitude does not allow for big ticket purchases such as furniture,” 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.