“Often furniture as a category tracks closely to consumer sentiment around personal economic conditions which should bode well for this category over the holidays, which is consistent with the projected growth in home furnishing of 33% versus 2014. “Consumers are feeling better about their personal economic circumstances which typically leads to higher holiday spending,” Sides said. Half of shoppers said they would spend on themselves, up from 43% last year and 39% from 2012. More than half of respondents (56%) said they would spend the same amount as last year while 19% said they would spend more. The jump in décor spending is seen at $30. The smallest percentage increase in the Deloitte survey was on gifts, up 6% to $487, which translates into an extra $19. “This optimism and increase can also be attributed to lower fuel prices, a positive outlook on job prospects and stable employment.” “Traditionally furniture hasn’t been a holiday purchase, although the market is being driven, in large part, by the housing market and an increased consumer confidence coupled with more disposable income,” Hudgens said. invites customers to “get a guest room ready for the holidays” - and then promotes a bed, table and stool on the Christmas section of its website. Has a section on its website, Holiday Chic, that includes both decorative crystal items like candle holders and ornaments - and a couch for $7,695.Ĭrate & Barrel Inc. Bedroom and dining room furniture are among the areas doing particularly well. This growth “compares very favorably to the overall economy,” the report said. The furniture industry is growing at a 6% to 7% clip this year, Hudgens wrote in a recent furniture outlook report, quoting Smith-Leonard Accounting Firm. The actual purchase is typically made at the beginning of the year, when bonuses and tax returns hit consumer bank accounts, Hudgens said. Large furniture items hit the sales floor during the holiday shopping season, making for good window shopping. In response, retailers are putting product on their floors as people are holiday shopping,” Hudgens said. the time of year where people are beginning to think about buying bigger ticket items. This gives retailers an opportunity to not only sell holiday items, but to plant the seed for a new couch, dining-room table, or other large piece of furniture, according to Mike Hudgens, southeast regional manager of CIT Commercial Services We expect growth in many of the categories of furnishings,” Rod Sides, the retail and distribution practice leader at Deloitte, wrote in an email. “As consumers spend more time entertaining, they are spending more on accessories and soft goods to adorn their homes. The biggest increase year-over-year was for home and holiday furnishings, up 33% to $124. 22, found that consumers plan to spend $1,440 on average this holiday season, 12.5% more overall compared to 2014, on everything from socializing to decorating to gifts. The survey, which polled 4,009 consumers between Sept. See also: Retailers not ready for the wave of online shoppers picking up purchases at store
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