Furniture Buying Index Slips to 71November 5, 2012
The Furniture Buying Index dropped one point this month to a reading of 71, according to America's Research Group.
Britt Beemer, chairman of ARG, said many consumers are in pause mode due to campaign advertising.
"Since consumers are not seeing as much advertising for furniture, there is nothing driving consumers to shop and buy furniture," he said. "This decreased focus on products in advertising is impacting purchasing for major ticket items like furniture. Retailers must plan big sales after the election to jump-start the consumer to get them thinking about buying furniture again."
The Furniture Buying Index is compiled each month by America's Research Group from interviews with between 5,000 and 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 percent actually have a particular item in mind.