Industry Sales by Quarter 2011 Q4 to 2018Q4 Furniture & Bedding
2019 by Laurie Northington in General
Note: The U.S. Department of Commerce, Bureau of Economic Analysis, revised its estimates of Personal Consumption Expenditures (PCE) in all consumer product areas, including furniture and bedding. This historical revision is customary prior to each 10-year U.S. Census. The PCE estimates are tied to the GDP and these changes are important. Revised back to 2010, the net impact is an average 8 percent cumulative reduction in furniture and bedding expenditures. Impact Consult
The combined Furniture and Bedding industry reached 26.97 billion in the fourth quarter, up 4.8 percent over the same quarter last year, but down 0.9 percent over the third quarter of 2018. Despite the slower fourth quarter growth, the total industry finished the year 6.8 percent higher than 2017.
Furniture (excluding Bedding) in the fourth quarter increased 5.2 percent versus the same quarter in 2017 totaling $23.36 billion. Compared to the third quarter of 2018, sales we up by only 1.2 percent. Year end furniture sales excluding bedding reached $90.82 billion, up 7.6 percent over 2017.
The Bedding industry’s historical growth in the fourth quarter is generally down double digits compared to the third quarter. The industry continued this trend with sales down 12.9 percent compared to Q3. Initial estimates of $3.6 billion put 2018 Q4 sales up 2 percent over 2017 Q4. Preliminary estimates of year end sales total $15.51 billion up 2.6 percent over 2017.
The second and third quarters of 2018 saw growth in combined furniture and bedding sales exceed 8 percent compared to 2017. In the fourth quarter, however, performance slowed in both product categories to 4.8 percent growth over the same quarter of last year. Compared to the previous third quarter, sales fell slightly by 0.9 percent.
Year end industry sales in 2018 totaled $106.33 billion, an increase of 6.8 percent over 2017. Furniture, excluding bedding, grew a healthy 7.6 percent to $90.82 billion and Bedding increased 2.6 percent to $15.51 billion.
Source: Impact Consulting Services, Inc.’s FurnitureCore.com industry model
Note: 2010 to 2018 data updated based on revisions by the U.S. Department of Commerce, Bureau of Economic Analysis, Personal Consumption Expenditures survey.