June 2016 Issue
Last year the furniture industry finally exceeded the volume experienced in the pre-Recession years of 2006 and 2007 growing 5.2 percent to $92.1 million in furniture and bedding sales.
While cocktail ottomans are gaining popularity as the place of choice for consumers to prop their feet or lay the remote, there’s no shortage of growth in the occasional table marketplace.
Millennials, Americans born roughly between 1982 and 2000, account for more than one quarter of the nation’s population. As of 2015, these 17 to 34 year olds numbered 83.1 million and have surpassed the 75.4 million Baby Boomers.
Literally every sales management training program I have seen during my forty years in our industry, has at some point made the statement “what is not measured cannot be changed” or something very similar!
From all indications the storm has passed in 2015. Total furniture and bedding sales exceeded the 2007 peak. Financial performance has improved significantly from last year’s breakeven level to a much better 3-4% range for all traditional retailers.