Retail Trends: Home Furnishings Edition

Styles, colors, and fashion trends are all very important factors in the furniture world. However, all of these mean nothing if furniture isn’t selling. In previous years, furniture sales have been down. This is because the furniture industry is cyclical and relies on the economy and the housing market to be profitable. If people are buying and building homes, furniture sales are great. One of the main reasons furniture suffers in a bad economy is because it is a post-ponable purchase. People would rather spend money on items that are seen more in public, like clothes and cars, if disposable income is limited.

The good news for retailers is that sales are up! According to Sarah Paxton, Vice President of Sales and Finance at LaDifference, “We are experiencing more consumers who tell us they are moving or building, and that is a very good sign” (via highpointmarket.org). Edward Massod, president of Home Furnishings of New Jersey and operator of four Thomasville stores, is positive, but remains cautious during this time of increased housing sales, saying, “We’re encouraged, but our direct benefit comes from new home sales. We’re seeing an uptick in the confidence level, but it hasn’t yet resonated across all our floors.” We are seeing increased consumer confidence which is being mirrored in an increased in traffic and sales.

I can’t wait to see what is to come for furniture stores and manufacturers in the upcoming years. I have a feeling we are going to be seeing a lot more work for retailers and interior designers coming soon!

You can read the full article here.

xx Meg