President’s Day Furniture Sales Economic Indicator

Posted at: 02/18/2013 7:57 PM
Updated at: 02/18/2013 10:57 PM
By: Chris Egert

It is hard to believe that our founding fathers would have ever imagined pillow-topped mattress in their honor.

But President's Day has become a very important three-day weekend for Mattress Firm and other Twin Cities retailers to bounce back from the recession.

Mattress Firm regional manager Brian Gotch said, “We've been really busy today, we've had a lot of guests in here, we've sold a lot of mattresses today."

Kids are out of school, and many offices are closed, so couples can make major purchases together.

Bobbi Goodwin saw lots of people furniture shopping on Monday, “And this isn't the only store we've been to, we were also at Ashley Furniture, so I saw a lot."

When folks like Goodwin are confident in their jobs, they're willing to crack open their checkbooks.  Experts tell Bloomberg news there is a direct correlation between consumer confidence and furniture sales.

Gotsch elaborated on what he’s seeing from customers, “A mattress is something everybody needs, but when the economy is struggling a little bit, they will prioritize it down a little bit."

When more homes are remodeled, or new homes are built, many of those homeowners purchase new furniture.  Places like HOM Furniture in Plymouth feel a direct impact.

Store sales manager Rich Maund explained, "We've seen a nice increase in our traffic, this weekend will hopefully be a big indicator for us as well."

We also spoke with officials in the corporate offices of Mattress Firm, and HOM Furniture today.

They both agreed say January sales were a little bit soft and blame tax cuts expiring, and people's paychecks shrinking.  But that overall, sales Monday appeared strong, and the many in the furniture industry are hopeful that 2013 will be a good year.