Because of rising fuel and other raw-material costs, consumers will likely face higher prices for furniture in the coming months. They will also see more offerings at the high end of the market, say participants who are convening this week in High Point, N.C., at High Point Market, a twice-yearly meeting of the nation’s home-furniture manufacturers, retailers and designers. That is because more U.S. companies are abandoning the lower and middle-tier to the likes of Wal-Mart Stores Inc. and Rooms To Go to focus on lucrative luxury customers — and the interior designers they hire. Faux Fun: Painted Furniture Fun

The higher prices and bigger-ticket goods come as the U.S. furniture industry is facing tough times. U.S. retail sales of furniture and bedding rose 7.2% to $83.23 billion for the 12 months ended in June, according to a monthly furniture-industry report by investment bank Mann, Armistead & Epperson. But more of those goods are being made overseas, particularly by lower-cost manufacturers in Asia. Home Depot Inc. sources nearly 60% of its merchandise overseas. Overall, last year, 43.1% of all furniture sold in the U.S. was made overseas, compared with just 24.3% that was manufactured abroad 10 years ago.

click here for article

search for : , ,