HIGH POINT — Retail executives have a more pessimistic view of consumers’ attitudes toward furniture and home décor purchases than shoppers’ actual attitudes reveal, according to a First Insight/WWD survey.
The disconnect between retailers and consumers extends to overall confidence in shoppers’ attitudes heading into the holidays, with retailers generally more guarded in their outlook than consumers.
While 40% of retail executives for instance, felt consumers were cutting back on furniture and home décor purchases because of higher prices, just 22% of shoppers said they were actually doing so, an 82% difference between perception and reality.
Retailers also were more likely to see cost increases for furniture and décor as impacting consumers’ daily lives, with 17% of retailers citing it vs. just 11% of consumers. Overall, price increases associated with home furnishings were near the bottom of the list of items affecting individuals. Instead, necessities such as groceries, gas and dining out headed up the list.