by Decline marks 19th consecutive drop in the furniture retail sector since February 2023
WASHINGTON — Year-over-year furniture store sales fell 2.3% in September, continuing an ongoing slump in furniture buying as consumers weigh other competing purchases ranging from vacations to spending on entertainment.
The decline was higher than the .7% increase reported in August, but also slightly lower than the 2.4% decline reported in July and the 4% decline in June.
According to figures released by the U.S. Department of Commerce Thursday, overall furniture store sales totaled $11.1 billion in September, down 2.3% from $11.3 billion in September 2023 and down 1.4% from $11.2 billion in August.
Overall retail sales rose 1.7% to $714.4 billion, from $702.2 billion in September 2023. They also were up .4% from $711.3 billion in August.
While furniture store sales continue to lag retail sales overall, there were some sectors that fared worse. For example, gasoline stations had the largest year-over-year drop, falling 10.7% to $51.1 billion, from $57.3 billion in September 2023, followed by a 4.6% drop at electronics and appliance stores, where sales totaled $7.4 billion, down from $7.8 billion and a 3.5% drop at sporting goods, hobby, musical instrument and bookstores, where sales totaled $8.2 billion in September, down from $8.5 billion a year earlier.
Motor vehicle and parts dealer sales were down .3% to $133.9 billion, from $134.2 billion in September 2023.
The sector with the biggest monthly increase was miscellaneous store retailers including pet stores, religious supply stores and florists, for example. Sales in this segment rose 7.9% to $15.8 billion, from $14.6 billion. It was followed by non-store retailers such as e-commerce platforms and catalogs, up 7.1% to $124.6 billion, from $116.2 billion; health and personal care stores, up 4.6% to $38.2 billion, from $26.6 billion; and restaurants and bars, up 3.7% to $96.4 billion, from $93 billion.
Other sectors that had an increase in September were clothing and clothing accessories stores, up 3.5% to $26.5 billion, from $25.6 billion; general merchandise stores including department stores, up 2.6% to $76 billion from $74.1 billion; food and beverage stores, up 2.5% to $84.1 billion, from $82 billion and building material and garden equipment and supply dealers up .5% to $41.2 billion, from $41 billion.
While furniture store sales were still down for the 19th straight month since February 2023, they were also up compared with pre-pandemic levels.
For example, the $11.1 billion in sales in September compares with $10.3 billion in September 2019, $9.9 billion in September 2018, $9.5 billion in September 2017, $9.5 billion in September 2016, $9.1 billion in September 2015 and $8.5 billion in September 2014.
