January 9,
2015 by in Relevant 
In 2003, the average annual household expenditure on Major Appliances was less than 50% of Furniture expenditures -- $196 versus $401. During the recession (2009) Major Appliances grew to 57% of Furniture and have remained close to that expenditure in 2013 (56%). As new home building recovers, Major Appliances and Furniture should get further bumps in growth.
Meanwhile, the average household spent $100 annually on Televisions in 2003, only 25% of the amount spent on Furniture of $401. By 2009, that ratio had grown tremendously to 44% as innovations in TVs peaked consumer demand. In 2013, the amount spent on Televisions had fallen slightly to 40% of Furniture -- $151 versus $382.
Of the three major home furnishings consumer products, Furniture was hardest hit during the Great Recession, but has shown more growth in the recovery than its sister products Major Appliances and Televisions. Yet none of the home furnishings products has reached historic average household sales levels attained between 2006 and 2008.
Source: U.S. Department of Labor, Bureau of Labor Statistics, “Current Expenditure Survey”
January 5,
2015 by in Relevant
This factoid compares the dollar growth in personal consumption of three major home furnishings consumer products - Furniture, Major Household Appliances, and Televisions.
The Television industry has more than doubled since 2000, growing 140%. However most of that growth occurred before and during the recession. Since the recession, the Furniture industry has outperformed both Televisions and Appliances, growing 15.2% since 2009 compared to 9.1% for Appliances and 3.3% for Televisions.
Source: U.S. Department of Commerce, Bureau of Economic Analysis, “Personal Consumption Expenditures”
December 23,
2014 by in Current
This is the first in a series of three Factoids detailing the Furniture industry’s growth in share of the three major home furnishings product categories – Furniture, Major Household Appliances, and Televisions. Furniture has lost share over the last 14 years, slightly to Major Appliances, but sharply to the rapid innovation in Televisions.
Furniture and Bedding continues to claim the largest share of the three home furnishings product categories at 55.4% but has lost 6.8 market share points, primarily to televisions. Since 2000, total personal consumption of furniture products has grown 28% (2014 Q2 annual rate) to $97.1 billion, the lowest growth rate of the three home furnishings categories.
Appliances have also lost market share slightly to Televisions, falling from 24.8% to 22.8% between 2000 and 2014 Q2. However the Major Appliance category has gained slightly on Furniture and Bedding. In terms of growth, the $39.5 billion Major Appliance industry has grown 32% compared to Furniture’s 28%.
The innovation in Televisions has been the major home furnishings consumer expenditure story early on, growing from 13.1% of the home furnishings category to 21.8% over the 14-year period. However, next week’s Factoid will show that Television growth peaked in 2008 and has remained stagnant, while Furniture and Appliances have continued to grow.
Source: U.S. Department of Commerce, Bureau of Economic Analysis, “Personal Consumption Expenditures”
December 18,
2014 by in General
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..
December 12,
2014 by in General
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.
December 5,
2014 by in General
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
December 1,
2014 by in General
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).
November 24,
2014 by in General
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..
November 14,
2014 by in General
The Industry continued its slow growth in Quarter 3 increasing 1.1% over last quarter (2014Q2) Q3 sales totaled $22.06 billion, primarily on the strength of a good quarter in Bedding. Combined Furniture and Bedding increased 2.4% from the third quarter of 2013.
While Furniture (excluding Bedding) experienced an increase of 1.9% over 2013Q3, sales were essentially flat over the second quarter of 2014 – down by (-0.3%). Bedding sales were up 4.9% from 2013Q3 and rose significantly over last quarter – up 9.2%.
November 7,
2014 by in General
Wonder where the money is in the U.S.? This factoid compares the percentage breakdown between the number of counties and their total personal income. It looks at the distribution of personal income among the 3,141 counties by total county income range and categorizes the highest to lowest total personal income.
The highest income counties (over $50 billion in personal income) only number 46 (1% of total counties); however, they are responsible for one-third of the total U.S. personal income.
Top 10 Counties (over $50 Billion in personal income)
1. Los Angeles, CA –Los Angeles-Long Beach-Glendale Market
2. Cook, IL –Chicago-Joliet-Naperville Market
3. Harris, TX –Houston-Sugarland-Baytown Market
4. New York, NY –New York-White Plains-Wayne Market
5. Orange, CA –Santa Ana-Anaheim-Irvine Market
6. San Diego, CA –San Diego-Carlsbad-San Marcos Market
7. Maricopa, AZ –Phoenix-Mesa-Glendale Market
8. Santa Clara, CA –San Jose-Sunnyvale-Santa Clara Market
9. King, WA –Seattle-Bellevue-Everett Market
10. Dallas, TX –Dallas-Plano-Irving Market
Although the top two county income ranges, Over $50 Billion and $10 Billion to $50 Billion, are only 8% of total counties (238 counties), they make up 68% of total personal income . The middle range, $1 Billion to $10 Billion, contribute 27% to personal income and has the largest number of counties –39% and totaling 1,214.
Well over half the counties in the country (1,664) are responsible for just 5% of total personal income.