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Factoids

Factoids offer brief snapshots of current topics pertinent to the Furniture industry based on our on-going research. Increase your grasp of current trends, consumer attitudes, and shifts within the industry through solid statistics and concise insight.

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Industry Growth Quarter to Quarter 2011 to 2014 Q4 Furniture & Bedding



The chart above shows the performance quarter to quarter from 2011Q4 through the fourth quarter of 2014.

 

Increasing from $21.6 Billion in 2013Q4, Industry sales were $22.5 Billion for the 4th quarter of 2014.  Combined Furniture and Bedding experienced a jump of 4.0% in sales from 2013Q4 and 1.4% over 2013 Q3. The Industry finished 2014 up 3% over 2013.

 

Furniture (excluding Bedding) increased 4.0% with sales of $19.7 Billion in 2014Q4 – up from $18.9 Billion in 2013Q4.

 

Although Bedding experienced a cyclical drop in the 4th quarter (-19.4%) compared to the previous quarter, sales are up 3.4% over 2013Q4.  Due to strong sales in the first and third quarter of 2014, Bedding sales totaled $12.62 Billion for the year – up 5% over 2013.   


Industry Sales by Quarter 2008 Q1 to 2014 Q4 - Furniture & Bedding


 

The Industry continued its positive momentum through 2014 by increasing 3% over last year – totaling $87.53 billion. A strong 4th quarter contributed to the growth. Combined Furniture and Bedding increased 1.4% over 2014 Q3 and 4.0% over the fourth quarter of last year.  Combined Furniture and Bedding totaled $22.48 billion in fourth quarter sales – the highest one-quarter sales since the fourth quarter 2007.

 

Furniture (excluding Bedding) increased 4.1% over 2013Q4 and 5.3% over quarter 3 of this year. Although Bedding had it’s typical 4th quarter sharp decline – down (-19.4%) compared to 2014Q3, it is up 3.4% from quarter 4 of 2013. Year-to-date, Furniture sales are up 2.7%, while Bedding sales are up 5.0%.

Total Personal Consumption Expenditures Furniture as a Percent of Durable Goods Expenditures 2006 to 2014Q2


 

Not only have Durable Goods continued to lose share to consumer expenditures on Services (see Factoid #1 of this series), Furniture as a percent of Durable Goods expenditures has declined by an average of 0.2 percentage points a year from 2006 to 2014Q2.  Overall, Furniture’s share has dropped 1.2pts from 8.7% of Durable Goods in 2006 to 7.5% in 2

Total Personal Consumption Expenditures - Furniture as a Percent of Total Personal Consumption : 2006 to 2014Q2


 


Furniture as a percent of Total Personal Consumption has consistently dropped over the past eight years with an average loss of (-0.03) percentage points per year.  Overall, Furniture has declined 0.27pts from 2006 to 2014Q2.

 

Source: U.S. Department of Commerce, Bureau of Economic Analysis



Total Personal Consumption Expenditures Durable Goods Losing Ground to Consumer Services Percent of Durable Goods, Non Durable Goods, and Services: 2006 to 2014Q2


 

In terms of consumer expenditures on goods and services, Durable Goods (where Furniture is a subcategory) is losing ground to expenditures on consumer Services.

 

This is the first in a series of factoids detailing Furniture as a percent of Personal Consumption Expenditures.  Durable Goods, Non Durable Goods, and Services are the three main categories of Personal Consumption.  Durable Goods (with Furniture as a subcategory) has dropped by (-1.5) percentage points from 2006 to 2014Q2, while expenditures on Non Durable Goods has maintained its share at 22.4%.  What percentage share Durable Goods has lost, Services has gained during the same time period – up by 1.5pts. 

Source:  U.S. Department of Commerce, Bureau of Economic Analysis

 

Industry Sales 2007 to 2014 Q3 (YTD) Bedding Industry


 

With strong sales in the third quarter, Bedding proves to be a catalyst for positive growth in the Furniture Industry for 2014.  Jumping 9.3% from 2014 Q2, Bedding sales are $9.7 Billion year-to-date – up 4.5% over the same quarter last year.

 

*2014 Q2 data has been revised..

 

Industry Sales 2007 to 2014 (YTD) Furniture & Bedding


 

 

Combined Furniture and Bedding sales for 2014 (YTD) are up 2.6% over the same period last year.  Furniture (excluding Bedding) is up 2.2% and Bedding is up 4.5%.


Based on the first three quarters of sales, the Industry is on track to increase total sales from 2013.  Combined Furniture and Bedding sales are $65 Billion in the third quarter – up 2.6% over the same period last year.  Furniture (excluding Bedding) increased by 2.2% from 2013Q3 with sales at $55.3 Billion year-to-date.  Showing the most growth, Bedding has sales totaling $9.7 Billion in 2014Q3 – up 4.5% from sales of $9.3 Billion in the quarter 3 of 2013. 

 

 

Industry Growth Quarter to Quarter 2011 to 2014 Q2 Bedding Industry


 


The chart above shows the performance quarter-to-quarter for 2011Q2 through the second quarter of 2014.  While the Bedding Industry had a slight decline of (-1.8%) from the previous quarter, sales are up 4.0% quarter-to-quarter (2013Q2 to 2014Q2).

 

*Historical data has been revised


Industry Growth Quarter to Quarter 2011 to 2014 Q3 Furniture & Bedding


 

The chart above shows the performance quarter to quarter from 2011Q3 through the third quarter of 2014.

 

With slow but steady growth, Industry sales are up 2.4% compared to 2013Q3 and continue to increase since the second quarter of 2014 – up 1.1%.

 

Furniture (excluding Bedding) increased 1.9%, while Bedding jumped 4.9% quarter to quarter (2013Q3 to 2014Q3). 

 

Industry Sales by Quarter 2008 Q1 to 2014 Q3 Bedding Industry


 

The third quarter is almost always Bedding’s best performer, with 2014Q3 following suit.  Bedding Sales increased 9.3% from 2014Q2 and 4.9% compared to sales in the same quarter last year. Nine month bedding sales for 2014 are at $9.7 million, up 4.3 percent from the same nine-month period in 2013.

 

 

*2014 Q2 data has been revised..

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