Originally published in the December 7, 2009, print issue of Furniture Today
In order to better understand how the recession has affected the consumer’s overall spending habits and shopping and buying habits for home furnishings in particular, Furniture Today, in partnership with HGTV, fielded an online survey in September. The survey launched as part of HGTV’s Ideas newsletter.
More than half of consumers desire new home furnishings. This evidence of pent-up demand is part of the good news coming from Furniture Today and HGTV’s exclusive survey, The 2010 Consumer. In September more than 8,500 consumers shared their thoughts on how the recession has affected overall household spending and furniture and bedding spending, in particular, and weighed in on buying plans for next year.
According to the survey, 19% of responding consumers can afford new home furnishings right now. And, while 30% aren’t sure when they’ll be able to spend money on new furniture, a promising 22% think they’ll be able to next year. Another 16% cite 2011 as the year they’ll be able to afford.
The 2010 Consumer Survey received responses from 8,554 U.S. consumers. Because of the large sample size, the survey data can be projected within this population with a margin of error of plus or minus 1.1%.
The research was collected and analyzed by Furniture Today’s research department, led by Group Research Manager Dana French.
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