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ARG: Furniture Buying Index Slips 2 Points
November 2,
2011 by in UnCategorized 
By Home Furnishings Business in economic news on November 3, 2011
The Furniture Buying Index dropped two points this month to a reading of 70the lowest index level reported in the past year, according to
America's Research Group.
Consumers who are looking to buy furniture are willing to purchase but only if they see big sale discounts, said Britt Beemer, chairman of Americas Research Group.
Consumers today expect 50 percent off as shown in a recent survey where 37.2 percent indicated they are ready to buy when they see items on sale at 40 percent to 50 percent off.
"That is the highest level in the five years we have been asking that question, Beemer said. Furniture retailers need to advertise big discounts to get shoppers in their door for the fall selling season."
The Furniture Buying Index is compiled each month by America's Research Group from interviews with between 5,000 to 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.