May 27,
2014 by in General 
The Industry continues a gradual decline since its peak growth in 2013Q3, with sales totaling $21.14 billion. Although dropping (-0.9)% from the previous quarter, Combined Furniture and Bedding increased 0.9% from the first quarter of 2013.
Furniture (excluding Bedding) experienced a slight increase of 1.0% over 2013Q1, but declined (-2.7)% over last year’s final quarter. Bedding jumped 11.5% from 2013Q4, while maintaining a flat growth of 0.2% compared with quarter 1 of 2013. Year-to-date, both Furniture and Bedding are up less than 1%.
May 16,
2014 by in General
All of the income segments were affected by the recession that peaked in 2009. As the data shows, spending levels for the higher income groups declined the most, but are now bouncing back at a higher rate.
Households making $150,000 and over spent 44% less from 2007 to 2009 but increased 26% from 2009 to 2013Q2 with an average annual expenditure of $1,311. After spending 35% less from 2007 to 2009, those making $100,000 to $149,999 upped their annual spending by 25% in 2013Q2.
Median household income has dropped from $56,080 in 1999 to $51,017 in 2013. Average annual spending for the income group closest to the national average ($50,000 to $69,999) has shown the same trend -decreasing since 2003 (with a flat growth of 2% from 2009 to 2013Q2).
Spending for those making $20,000 to $49,999 stayed relatively static from 2003 to 2013Q2 (down slightly by 3%). While households making $20,000 and under dropped by (-18% ) over the same period –averaging just $103.
Source: U.S. Department of Labor, “Consumer Expenditure Survey” and Impact Consulting model.
May 9,
2014 by in General
When it comes to average annual furniture purchases, households making $150,000 and over are spending exponentially more than lower income households. With an average annual expenditure of $1,311 in 2013Q2, the $150,000 and over group (just 9.5% of the total furniture buying population) is spending almost double those households making between $100,000 to $149,000.
Source: U.S. Department of Labor, “Consumer Expenditure Survey” and Impact Consulting model.
May 5,
2014 by in General
Looking at growth patterns for Prime Furniture Purchasing Income Groups between 2000 and 2012, the trends are pretty clear. Household growth lies squarely in the higher end. The number of households with incomes over $75,000 is up 62%, while the number of households making under $75,000 has a flat growth of 0.3%.
Households making over $150,000 saw by far the highest jump in overall population (a cumulative growth rate of 133%). Households making between $75,000 and $150,000 also saw double-digit population growth - rising more than 26%.
The remaining lower income groups all declined from 2000 to 2012. These households dropped from 75% of the total furniture buying population in 2000 to 67% in 2012.
Source: U.S. Census Bureau, Current Population Survey.
March 21,
2014 by in General
While the third quarter of 2013 experienced its traditional jump in sales, likewise the fourth quarter experienced its traditional – down -14.8%. Although the Bedding Industry did decline over last quarter, it is up 4.7% over 2012Q4. Year-to-date, sales are up 2.42%.
March 17,
2014 by in General
Combined Furniture and Bedding sales for 2013 (YTD) are up 2.4% over the same period last year. Furniture (excluding Bedding) is up 2.36% and bedding is up 2.42%.
March 3,
2014 by in General
The chart above shows the performance quarter to quarter for 2011 through the fourth quarter of 2013.
While Industry Sales continued to increase slowly quarter by quarter in 2013, combined Furniture and Bedding showed good growth over the poor performance of Q4 last year. Q4 to Q4 sales rose 8.3% .
Furniture (excluding Bedding) increased 8.8%, while Bedding grew 4.7% quarter to quarter (2012Q4 to 2013Q4).
February 10,
2014 by in General
Industry Growth : Bedding Industry - 2011 to 2013 Q4
The chart above shows the performance quarter-to-quarter for 2011 through the fourth quarter of 2013. While the Bedding Industry declined (-14.8)% over the third quarter in 2013, sales are up 4.7% over the fourth quarter of 2012. Overall, the Bedding Industry has shown positive growth in 2013 – up 2.42% from the previous year.
January 31,
2014 by in General
Industry Sales by Quarter 2008 Q1 to 2013 Q4
The Industry is at its highest one-quarter level since 2007 with overall Furniture and Bedding sales totaling $19.42 Billion. Fourth quarter sales were essentially flat compared to the preceding quarter 3 showing a slight increase of 0.2%. Combined Furniture and Bedding jumped 8.3% over the same 4th quarter of last year.
Furniture (excluding Bedding) increased 8.8% over 2012Q4 and 2.8% over quarter 3 of this year. Although Bedding did have a sharp decline of (-14.8)% growth compared to 2013Q3, it is up 4.7% from quarter 4 of 2012. Year-to-date, both Furniture and Bedding sales are up 2.4%.
January 27,
2014 by in General
Source: U.S. Department of Commerce, “Current
Population Report Projections” and Impact Consulting Services model.
Based on current population projections, Households in the Age Segment
55 to 64 will continue to increase at a staggering rate. With an estimated rise of 77% from 2000 to
2020, Ages 55 to 64 will make up the vast majority of the furniture buying
population. While Ages 25 to 34 are
projected to rise 15% over the 20 year span,
Ages 35 to 44 (considered the prime furniture purchasers) are estimated
to fall (-7.5%) with Age Group 45 to 54 finishing flat at a 0% growth in 2020. In 2020,
Age Segment 55 to 64 is projected to make up 19% of the furniture buying
population, while the three younger generations will each be responsible for
roughly 16%.