Houses are divided on buying furniture in Q4 of 2024.
Half of those surveyed by Consumer Insights Now (CIN) are holding off on at least some home furnishings purchases in the latter part of 2024. And don’t assume holiday shopping is to blame! Survey respondents cited inflation and plans to spend on experiences and high-ticket items in other categories as reasons to delay buying furniture until 2025 or later.
Domestic vacations topped the experience list for 47 percent of survey-takers, followed by concerts (25 percent), sporting events (20 percent), international vacations (14 percent), college costs (12 percent) and wedding expenses (7 percent). And the top non-furniture high-ticket items include cell phones (24 percent), TVs (19 percent), computers (18 percent), new cars (14 percent), home repairs (14 percent), gaming systems (13 percent) and home appliances (13 percent).
Which home furnishings categories will be impacted most?
Sofas/sectionals, mattresses, bedroom furniture, recliners and outdoor furniture are the top categories consumers plan to delay purchasing — in that order. Yet, it’s not all bad news for sofa and mattress retailers. While those two categories may be hardest hit this quarter, a larger percentage of people waiting till later do plan to buy a sofa (40 percent) or mattress (43 percent) in the first half of 2025. These shoppers are also more motivated by quality than price.
Overall, comparing quality to price, the CIN survey confirmed what might already be assumed — that older, higher income shoppers tend to focus more on quality, while younger generations and consumers with an income of less than $50,000 are more price-driven.
When do other consumers plan to purchase?
Let’s look at the full breakdown of those surveyed to compare the first half of 2025 with the second half of 2025 in the top delayed categories.
- Sofas/Sectionals: 40 percent first half, 37 percent second half
- Mattresses: 43 percent first half, 36 percent second half
- Bedroom Furniture: 38 percent first half, 38 percent second half
- Reclining Chairs: 35 percent first half, 42 percent second half
- Outdoor Furniture: 30 percent first half, 40 percent second half
And what about the categories that didn’t make the top of the list?
Fewer respondents plan to delay buying furnishings related to entertainment, office spaces, occasional tables, dining room and kitchen. And those who will wait are pushing the purchases back to the second half of 2025.
ON A POSITIVE NOTE
Despite these potential purchase delays, consumers remain optimistic. Of those surveyed, only 14 percent are buying less in 2024 than in previous years. Forty-four percent are spending the same amount and 42 percent are spending more.
And new years also bring in new trends to intrigue and attract customers who would otherwise not be in market. NMG staff and Members got a first-hand look at some of the top 2025 home furnishings trends at High Point Furniture Market this fall.
