Like numbers? Here’s just what you’re looking for
An insider's view
Jerry Epperson -- Furniture Today, April 28, 2005
Ready to talk statistics? Boy, have we got some for you! While many folks discuss only annual numbers, we try to evaluate them quarterly, and sometimes we get some surprises.
For example, total retail sales of furniture and bedding were up 6.4% in the fourth quarter and up 7.8% for the entire 2004 year. Did you do that well?Domestic wood furniture factory shipments grew last year by 4.2%, the first gain since 2000. Coincidently, domestic wood shipments in the fourth quarter grew 4.2% as well. All imports of wood furniture grew 14.3% in the fourth quarter and 13.6% for the year.How much did wood furniture imports from China grow in the fourth quarter? Want a hint? They grew at a compounded annual growth rate of 32.9% for the past 10 years and were up 16.3% for all of 2004. Answer: Wood furniture shipments from China grew 11.1% in the fourth quarter, less than the “all imports” number of 14.3%. We cannot remember the last time that happened.By the way, in the fourth quarter, shipments from Malaysia grew 25.9%, Thailand 24.6% and Vietnam 153.7%, so Asia is still doing fine, in case you were concerned. Of course, they all are shipping much smaller quantities than China.For you history buffs, wood furniture shipments over the past 10 years grew 15.7% for domestic manufacturers, 269.5% for all imports, and 1,630.6% from China. How’s that for numbers?Domestic upholstery factory shipments grew a healthy 10.4% in 2004, and 6.6% in the fourth quarter. For the year, imported upholstery grew 17.3%, and for the fourth quarter 11.5%.In 2004, China for the first time shipped more upholstery to the United States than the former largest supplier nation, Italy. Needless to say, the majority of the units from both sources was leather. But the fourth quarter saw some dramatic shifts, as upholstery shipments from China grew 50.2% while Italy declined 30%. Mexico grew 14.7%.Over the past 10 years, domestic upholstery shipments grew 69.5%, all upholstery imports grew 448.1%, Italian upholstery imports grew 97.1%, and upholstery from China grew (are you sitting down? — on upholstery, of course!) 7,418.9%. In 1994, we imported $10.6 million in upholstered furniture from China; last year it was $797 million.By our measure, 54% of all wood furniture consumed in the United States in 2004 was imported, with 23.8% of all wood furniture sold here coming from China. For upholstery, 17.2% of all upholstery consumed was imported, with 6.7% of the total coming from you know where.And you thought numbers weren’t exciting. Thanks to the AHFA, the ITA and other initials for the data.
Featured Company
-
Brandwise Inc.
Brandwise serves a model - not just an industry - by integrating, automating, and optimizing the entire sales channel, from wholesale Suppliers to their Reps and the Retailers they service. In short, our software helps Reps and Suppliers sell more and create... more
VIEW ALL GALLERIES
