Furniture Stores Top Selling Months:
Big Sales Events and Monthly Index of Furniture Sales
This is the first factoid in a series of four factoids detailing monthly Furniture Store sales and the top selling times of the year to buy furniture and home furnishings. Many life events spur home furnishings purchases. But along with buying a new home, marriage, and having children, the time of the year plays an important part in overall Furniture Store sales.
Economic events can always alter consumer confidence, but the overall monthly ebb and flow of Furniture Store sales has changed through the years. Once the pinnacle of furniture purchases, the November/December holiday season has lost some of its sales glamour, not only with furniture but will all consumer products as a total group. It is still the biggest season in total retail sales of consumer goods, but no doubt the 4th quarter has lost market share. For Furniture Stores, May and August have always been steady and strong, but March has emerged as a huge sales month. Online filing of income tax returns has resulted in quick returns for the end of February and especially throughout March.
Throughout the 1990’s and up until the mid 2000s leading up to the Great Recession, November and December trended as the largest sales months for Furniture Stores, often combining to capture 18 percent to 19 percent of annual sales. The exception was in December 2002 and 2007 when economic downturns and uncertainty impacted Furniture Store performance in December. However, since coming out of the Great Recession, the entire 4th quarter has garnered less importance to the Furniture Industry.
Note that an index of 100 represents the average month (annual sales divided by 12 months). An index of 115, for example, indicates sales were 15 percent higher this month than the average.
Source: U.S. Census Bureau, Monthly Retail Trade and Food Services