Just the Stats: Formal dining
Furniture/Today Market Research -- Furniture Today, August 6, 2009
The Just the Stats series gathers in one place data Furniture/Today's Market Research team has compiled on specific product categories; in this case, formal dining. Drawn from special research reports published throughout the year, the data points spotlight what's going on with the category.
Dining retail sales
| 2008 estimated spending in $billions | % of total furniture and bedding market | % change from 2007 |
Casual dining | $3.6 | 5% | -4.7% |
Formal dining | $5.5 | 7% | -8.1% |
Total Dining | $9.1 | 12% | -6.7% |
Source: Easy Analytic Software and Furniture/Today market research
Formal dining in furniture stores• Accounted for 5% of furniture store sales for fiscal year 2007.
- • Accounted for 6% of selling space in furniture stores in 2007.
- • Median SKUs, 10, and median number of lines, 4.
- • Median best-selling price points for a table and 4 chairs, $1,550.
Source: Furniture/Today Furniture Store Performance Report, 2008
Formal dining style trends- • Contemporary styles claimed the biggest chunk of market share in terms of units at 53% at low price points ($999 and below for a table, four side chairs and two arm chairs, priced at retail).
- • Other Traditional, 25%, and Contemporary, 24%, shared as leaders of unit market share at middle price points ($1,000 to $2,999 for a table, four side chairs and tow arm chairs, retail).
- • At high price points, Other Traditional scored as unit market share leader, with 31%, with European Country, 28%, running a close second.
- • Cherry was the best-selling wood or finish at both low and middle price points. At high price points, cherry and mahogany shared the top spot.
- • Formal dining room features that retailers perceived as gaining favor among consumers included self-storing table leaves, buffet/servers, tables longer than 84 inches and nickel or pewter hardware. Features losing consumer favor were skirted chairs, brass hardware and fully upholstered chairs.
Source: Furniture/Today Case Goods Style Survey, 2008
Consumers and formal dining- • 61% of responding consumers would first shop a traditional furniture store for formal dining
- • 29% of consumers expect to pay between $1,000 and $1,999 for a new formal dining table and chairs; 23% expect to pay between $2,000 and $2,999; and 19% expect to pay $3,000 or more
- • 37% of consumers want to know more about formal dining room furniture's construction and 32% want to know more about the quality of the furniture
Source: Furniture/Today and HGTV Consumer Views Survey, 2009
To purchase full copies of the special reports referenced above, click on the links below.Furniture/Today & HGTV Consumer Views Survey: Spotlight on Dining
Dining furniture potential report, February 2009
Furniture store performance report, September 2008
Case good style survey, July 2008
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