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August 2010 - CONSUMERS WORRY ABOUT BIG TICKET PURCHASING
Charleston, SC August 2, 2010 – The Furniture Buying Index dropped another three points this month to a reading of 67. This is the second consecutive month the Index has experienced a downward move.
Britt Beemer, Chairman of America's Research Group, said, "Consumers are more focused on back-to-school shopping and essentials, and any big ticket purchase is being delayed for as long as possible." "This drop moves the Index back below the all-important level of 70 points or higher, where furniture retailers experience dramatic increases in sales," he stated.
"Consumers continue to worry about the economy and those purchases which are not essential are being delayed," 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.