The Business and Institutional Furniture Manufacturer’s Association (BIFMA) has released its 2009 numbers for office furniture sales. If you think statistics are fascinating, you’ll want to check out their historical data and projected figures. Here are some highlights:
- 2009 consumption (production and imports minus exports) totaled $7.845 million
- From 2008 to 2009, production dropped 29.7% - the biggest decrease BIFMA has ever documented
- In the same time period, U.S. exports of office furniture to other countries dropped almost 28%
- Canada is the recipient of 50% of office furniture exported from the U.S.
- Manufacturers in Canada and China each account for 40% of office furniture imported by the U.S.
- 2010 is likely to see a further 2.5% drop in consumption
- The outlook for 2011 is rosier with an expected increase in consumption of 12.6%
According to BIFMA, these numbers don’t take into account the refurbished furniture market. By volume, restored office furniture accounts for about an additional 15% of consumption. Of course, with so many business owners putting off buying new furnishings, the recycled furniture industry is in a position to offer an excellent alternative.
Tags: office furniture sales
Let’s hope for a better year next year, those who survive should be fine in the long run.
Yes, this most recent economic downturn really is separating those companies that are just hanging on from those that have a really sound business model. I expect those with a decent product but poor financials will be acquired by some of their larger competitors.