FURNITURE BUYING INDEX DOWN ANOTHER TWO POINTS (April 2008)
Charleston, SC April 1, 2008 – The Furniture Buying Index is down two more points this month to a reading of 62. The good news is things will get better with time.
Britt Beemer, Chairman of America's Research Group, said, "Normally 60% of income tax refunds are used to buy big ticket purchases of $500 or more." Beemer continued, "This leaves very little to buy furniture with."
Beemer added, "Things will get better, but it may take many months before furniture retailers see their stores crowded."
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.