Furniture Stores Top Selling Months: Percent of Annual Sales by Month in Selected Years : 3rd and 4th Quarters
2017 by Jane Chero in General
This is the final 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.
Since 2002, Quarter 3 has climbed to the best selling quarter of the year – mostly due to high August sales. The end of summer sales and the lead into Labor Day has kept the month of August percentage of sales at 8.8 percent until 2016. Last year the Labor Day holiday weekend fell solidly in September which boosted it to the highest performing month of the 3rd quarter. Meanwhile July 4th events are producing average sales during a traditional consumer vacation period.
Market share of November and December combined has dropped from 19 percent in 1997 to 17.2 percent in 2016. While still commanding above average sales, the holiday season has lost some appeal as more consumers are choosing to take advantage of income tax refunds in the early spring and late summer sales. In addition, other consumer goods and electronics also compete for consumer dollars during the holiday season. Meanwhile, October has become the second worst performing month behind January averaging 8.0 percent of sales since 2002.
Source: U. S. Census Bureau, Monthly Retail Trade and Food Services