South, West top growth list
By Furniture Today Staff -- Furniture Today, December 29, 2002
Furniture and bedding sales will increase by 7% between 2002 and 2007 if projections by the San Diego-based research firm Claritas hold.
Claritas expects the fastest furniture and bedding sales growth to take place in the South and West — about 10% each. Sales in the Midwest are expected to track slightly faster than the nation as a whole, at a 7.2% level, while sales in the Northeast are expected to rise only about 2%.
Four metro areas, all in the Southwest, are expected to increase furniture sales by more than 25% — Austin-San Marcos, Texas, 34%; Fort Collins-Loveland, Colo., 27%; and Boulder-Longmont, Colo., and Provo-Orem, Utah, 26% each. In all, Claritas expects 126 of the 318 metro areas to have furniture sales growth higher than the national average.
In the Midwest, Sioux Falls, S.D., is expected to have the fastest furniture sales growth — 21.5%, rising from $41.5 million this year to $50.4 million in 2007.
In the Northeast, Claritas projects the fastest growth over the five-year period for Portland, Maine — 8.4%, rising from $68.9 million to $74.7 million.
Of the three metro areas in the Northeast with the greatest furniture sales — New York, Boston and Philadelphia — only Boston is expected to top the national average for sales increases. Claritas projects a 7.2% increase in furniture and bedding sales for the Boston metro, a 2.4% increase for the Philadelphia metro and a slim 1.3% increase for the New York metro area.
In the South, all four metros that currently have furniture sales of more than $1 billion are expected to exceed the national average in sales growth. The Dallas metro is expected to increase furniture and bedding sales by 18%, the Atlanta metro, by 17%, and the Houston metro by 14%. The D.C. metro is expected to see a 9% furniture sales increase by 2007.
The Minneapolis-St. Paul, Minn.-Wis. metro is expected to join the $1 billion dollar club by 2007, with a projected furniture sales increase of 17% over 2002. The other two $1 billion metros in the Midwest are not expected to see such a dramatic increase in sales. Claritas projects an 8% increase in furniture and bedding sales for the Chicago metro and a 5% increase for the Detroit metro area.
In the West, only the Los Angeles-Long Beach, Calif. had more than $1 billion dollars in furniture and bedding sales in 2002, according to Claritas estimates. By 2007, sales of furniture and bedding are expected to increase by only 0.6% in the L.A. metro.
Up the coast, the Seattle-Bellevue-Everett, Wash. metro area is expected to increase furniture and bedding sales by 19%, bringing its total to $1.06 billion.
| projected $ increase 2002–2007 | |
|---|---|
| Atlanta | $203.6 |
| Chicago | 195.1 |
| Dallas | 188.4 |
| Washington-Md.-Va.-W.Va. | 171.9 |
| Seattle-Bellevue-Everett, Wash. | 169.6 |
| Minneapolis-St. Paul, Minn.-Wis. | 158.3 |
| Houston | 150.6 |
| Denver | 150.6 |
| Boston-N.H. | 137.9 |
| Austin-San Marcos, Texas | 137.8 |
| Phoenix-Mesa, Ariz. | 124.8 |
-
Furniture spending to grow 23% by 2010
Jan 8, 2006 -
Spending will increase by 27% by 2011
Jan 7, 2007 -
South, West driving growth
Jan 9, 2005 -
West
Jan 7, 2007 -
Furniture spending to grow 23% by 2010
Jan 10, 2006
Specialty retailer LoveSac introduces new store design
Kincaid Furniture honors Jimmy and Rosalynn Carter for Habitat work
Belfort Furniture, Lawrance Furniture are NHFA Retailers of Year
Singapore furniture show expecting increased turnout
Omnia Furniture ends relationship with Kathy Ireland Worldwide
Featured Company
-
FurnitureCore.com
FurnitureCore.com is a dynamic web application aimed at the furniture industry. Retailers and manufacturers alike will find our deep reserve of tools to be exactly what their furniture business needs.www.furniturecore.com... more
VIEW ALL GALLERIES
