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From Home Furnishing Business
FastFact: Furniture Sales Hit 7-Year High
February 23,
2015 by in Economic News, Industry
Furniture industry sales have nearly rebounded to their pre-recession levels eight years ago.
Total sales for furniture and bedding reached $87.5 billion in 2014, a 3 percent increase from sales of $84.95 billion in 2013.
Since 2009, industry sales have continued to increase incrementally year over year. In 2009, industry sales dropped to $74.2 billion, the lowest point in the seven-year span between 2007 and 2014.
At $87.5 billion for 2014, furniture industry sales have nearly rebounded to pre-recession levels in 2007 when sales hit $89.8 billion.
Furniture sales, excluding bedding sales year-to-year, increased 2.7 percent with sales of $74.9 billion. Bedding’s year-end sales for 2014 were up 5 percent, hitting a total of $12.6 billion.
The complete, enlarged FastFact can be viewed here.