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July 2008 - FURNITURE BUYING INDEX DOWN ANOTHER POINT
Charleston, SC July 1, 2008 – The Furniture Buying Index is down another point this month to a reading of 57. This reading is the lowest ever recorded since America's Research Group began compiling the Index in 1992.
Britt Beemer, Chairman of America's Research Group, said, "Gas prices continue taking a toll on consumers’ willingness to spend money on big ticket items." "There is no relief in sight, but I am hopeful the Index will rise before the all important Labor Day weekend," 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.
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.