July 2010 - FURNITURE BUYING INDEX DROPS TWO POINTS
Charleston, SC July 1, 2010 – The Furniture Buying Index dropped two points this month to a reading of 70. This halts the slow increase the Index has experienced in the past seven months.
Britt Beemer, Chairman of America's Research Group, said, "There is a greater sense of job uncertainty among Americans which caused the drop in the Index this month." "This drop moves the Index back to the all-important level of 70 points or higher, where furniture retailers experience dramatic increases in sales," he stated.
"Consumers with less money to spend this summer are reducing vacation plans and putting more big ticket purchases on hold," 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.