Who needs good news? This furniture buying survey is for you

LAS VEGAS — In its survey of furniture retailers attending the Las Vegas Summer Market, TD Bank found that attendees remained optimistic about purchasing volumes.

Two-thirds of respondents said furniture purchases will increase (40.5%) or remain stable (26.45%) for 2022, despite inflation, economic uncertainty and supply chain issues.

In fact, respondents ranked supply chain issues as their top concern for the next 12 months, at 35.54%, followed closely by an expected economic slowdown (34.71%) and a third highest. distant, the rise in inflation, to 17.36%.

Three-quarters of respondents said they had increased their prices, adjusting to the current inflationary environment. As a result, 57% of this group say that these price increases reduced their sales volume.

Even with volatile economic conditions, about half of respondents said they had seen no increase in the number of customers using financing over the past year. Despite this, 19% have expanded or plan to expand their financing offerings to provide more flexibility to their customers.

Furniture inspected by TD Bank retailers present at the Las Vegas market. Results are based on 121 respondents.

See also: Inventory overload? 3 retailers reveal their best coping strategies

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