September retail sales offered a mixed bag. Furniture sales for the month dropped slightly.
WASHINGTON — Furniture and home furnishings sales in September logged a slight dip in month-to-month comparison and an increase in year-over-year results, according to advance monthly estimates from the U.S. Department of Commerce.
The month’s adjusted sales of $12.023 billion was up 0.9% from September 2021’s $11.974 billion. When compared with August’s results, monthly sales dropped 0.7% from $12.596 billion.
The September results include Labor Day weekend, typically a strong sales event for home furnishings retailers who share with Furniture Today that the weekend netted strong sales and traffic.
Year-to-date furniture retail sales climbed 2% to $105.45 billion for the same nine-month period last year.
Overall, retail sales remained relatively steady for the month at $684 billion from the previous month likely in response to continued inflation and higher interest rates. Year-to-year comparison showed a 8.2% increase from September’s sales of $609.4 billion. Total retail sales for the three-month period between July and September climbed 9.2% compared with the same period last year.
Interestingly, September sales at gas stations climbed 20.6% when compared with the same month last year but dipped 1.2% from August sales.
Month-to-month winners in September included health and personal care stores (0.5%); food and beverage stores (0.4%) likely due to inflation; general merchandise stores (0.7%); clothing and clothing accessories (0.5%) as a key month for back-to-school shopping; food services and bars (0.5%); and non-store retailers (0.5%).
Motor vehicle and parts dealers posted a 0.4% drop; miscellaneous store retailers dropped 2.5%; and building material, garden equipment and supplies dealers dipped 0.4%.
The DOC’s advance estimates are based on a sub-sample of the U.S. Census Bureau’s full retail and food services sample. A stratified random sampling method is used to select approximately 5,500 retail and food services firms whose sales are then weighted and benchmarked to represent the complete universe of more than 3 million retail and food services firms.
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I’m Sheila Long O’Mara, executive editor at Furniture Today. Throughout my 25-year career in the home furnishings industry, I have been an editor with a number of industry publications and spent a brief stint with a public relations agency where I worked with some of the industry’s leading bedding brands. I rejoined Furniture Today in December 2020 with a focus on bedding and sleep products. It’s a homecoming for me, as I was a writer and editor with Furniture Today from 1994 until 2002. I’m happy to be back and look forward to telling the important stories impacting bedding retailers and manufacturers.
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October 14, 2022 at 09:25PM
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Furniture sales slip in September as consumers grow increasingly weary of inflation - Furniture Today
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