Hello again Rpoel,
I'm delighted that you were pleased with my research on your other question.
Residential Furniture
An Industry in Transition and/or Trouble?
?According to North American Industrial Classification System (NAICS)
data compiled by the Census Bureau, domestic sales of furniture stores
now total about $53 billion annually. Over the last decade, sales
growth for these stores has averaged 5.0%, nearly inline with the 5.1%
rate of GDP growth but below both the 5.7% annual growth rate average
for personal consumption expenditures and 5.8% average annual growth
for all retail sales.
Since about 40% of furniture is sold in channels other than those that
are classified as furniture stores by the Census Bureau, the monthly
NAICS data misses a certain portion of the retail furniture market.
Similarly, most furniture stores sell more than furniture, including
accessories, lamps, and other décor items. Despite these issues, NAICS
data provides the only monthly data series to track near-term demand
patterns.?
(?)
?After making a series of analytical adjustments for these issues, we
estimate the value of wholesale wood and upholstery furniture
shipments in 2003 was about $30.6 billion, of which 33.5% were imports
and 66.5% were domestically produced. Imports, particularly those from
the Far East and China, remain the most important agent of change for
residential furniture manufacturers and investors. Our analysis also
indicates that wholesale shipments have grown at an average annual
rate of 5.5% during the past seven years.?
?Incorporating estimates for bedding, metal, and other types of
furniture, we estimate that the wholesale shipment market of
residential furniture was about $42 billion in 2003.?
According to Furniture Today, Raymond James Research, the residential
furniture market was worth $64 billion in 2001 and $66.7 in 2002.This
is a 4.2% change.
Home office furniture was worth $3.1 billion in 2001 and $2.9 billion
in 2002. This is a -6.5% change.
See page 17 Table 3
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Furniture Market at Retail, 2002
(Amounts in Billions)
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2002 % of Total
Total Upholstery $21.8 32.7%
Stationary Upholstery 14.3 21.4%
Motion Upholstery 2.4 3.6%
Motion Chairs 5.1 7.6%
Bedding 8.8 13.2%
Adult Bedroom 7.8 11.7%
Infant Bedroom 1.1 1.6%
Youth Bedroom 3.3 4.9%
Formal Dining 4.5 6.7%
Casual Dining 4.1 6.1%
Occasional 6.0 9.0%
Home Office 2.9 4.3%
Entertainment 3.1 4.6%
Outdoor/Other 3.3 4.9%
Total $66.7
Source: Furniture Today, Raymond James Research
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Furnishings Industry Report
February 25, 2004
Download the complete report here:
http://media.corporate-ir.net/media_files/nys/leg/reports/LEG022504.pdf
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Research and Markets: Value of American Residential Furniture Market
over $40 Billion at Wholesale Prices
Business Wire, Sept 27, 2004
http://www.findarticles.com/p/articles/mi_m0EIN/is_2004_Sept_27/ai_n6218524
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?According to UBS Investment Research, manufacturers? sales
of residential furniture in 2002 totaled nearly $24 billion, an
increase of 3.4 percent from 2001.?
American Furniture Manufacturers Association
April 2004
http://www.ahfa.us/uploads/documents/FPITestimony.pdf
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A figure from the year 2000
Hank Long, Hooker' Furniture senior vice president of merchandising,
estimates the home office furniture market is a $2 billion to $3
billion business, growing at least 10 percent annually.
Home Office Computing, March, 2000
http://www.findarticles.com/p/articles/mi_m1563/is_3_18/ai_60041509
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Search terms used:
Residential furniture market billion
Office furniture residential home office billion
I hope the information provided is helpful!
Best regards,
Bobbie7 |
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