Tax Refund Checks Boost Furniture Buying Index

March 3, 2012  by in UnCategorized   

By Home Furnishings Business in economic news on March 4, 2012 The Furniture Buying Index rose two points this month to a reading of 72 bringing the index back to its level at the end of last year, according to America's Research Group.
 
"Many consumers have money from income tax refunds arriving this month," said Britt Beemer, chairman of America's Research Group. "These consumers feel better about spending money on big ticket items like furniture."

Beemer said consumers remain concerned about the economy and their bills and debts, so decisions about where to spend the refunds weigh heavily. "Retailers must offer great sales to entice these consumers to shop their stores," he said.

The Furniture Buying Index is compiled each month by America's Research Group from interviews with 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.