FURNITURE BUYING INDEX DROPS FIVE POINTS
Charleston, SC February 1, 2008 – The Furniture Buying Index is down five points this month, bringing it to a reading of 66. This is a big drop in consumer buying for furniture.
Britt Beemer, Chairman of America’s Research Group, said, "The Furniture Buying Index is now under a level of positive sales performance for dealers." Beemer continued, "With a level this low, free offers are all that will get consumers motivated to purchase furniture."
Beemer added, "The Index has not dropped below the critical level of 70 since November, 2001 when it was at a reading of 69. Therefore, retailers must be extremely promotional and resort to free promotions to get consumers out to buy the category."
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.