Key Highlights
- In cautious economic times, people can mostly pause, or even cancel, furniture purchases.
- “Furniture, of course, is many times a discretionary and deferrable expense, so weakness in the overall economy or declines in consumer confidence, like we’ve seen the last few months, can impact consumers’ willingness to spend,” Laferriere, an assurance partner at Smith Leonard and member of its furniture practice group, told Homes. com.
- Prices are not going to come down in the near future, which is something over which retailers don't have much control.
- “There will be some impact on pricing as their costs have increased (not only because of tariffs), which ultimately must be passed along to consumers,” he said.
- “Most ‘domestic’ manufacturers still have some exposure to tariffs, whether that be imported fabric, hardware, or other components; however, the average consumer does not shop for furniture every day or even every year, and many times buying decisions are made upon style or functionality rather than only price.
