Furniture Market 2022 Presentation

A Return to Moderate Sales

• For the furniture market, as with most other retail verticals, sales have moderated during 2022 both because of inflation and the end of consumers having stimulus dollars and excess savings to spend.
• According to US Bureau of Economic Analysis data, the SAAR (seasonally adjusted annual rate) for personal spending on furniture increased 14.3% YOY during Q4 2013 but then decreased to a 5.3% YOY increase during Q1 2022 and +4.8% YOY during Q2 2022.
• Another indication of moderate furniture sales during 2022 was July’s SAAR of $58.95 billion increased 6.4% YOY but increased by less than 2.0% when compared to any of the first six months of 2022.

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