November 2008 - FURNITURE BUYING INDEX DROPS ANOTHER TWO POINTS
Charleston, SC November 1, 2008 – The Furniture Buying Index dropped two points this month to a reading of 54. This is the lowest reading recorded in the last fifteen years.
Britt Beemer, Chairman of America’s Research Group, said, "The tough economic climate coupled with high credit card debt continue to raise havoc on consumers’ willingness to make major purchases."
"The furniture industry will have to continue to fight the battle because consumers are delaying furniture purchases for as long as possible," Beemer commented.
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.