2003 Retailers Survey—Analysis

FL has done about twelve different surveys over the past fifteen years. Most of this information is archived on our website. We have always been careful to preface our analysis with the disclaimer, that since most privately held companies are reluctant to reveal sales figures and unit volumes, we are left with "the best educated guess," philosophy as a means to achieve an acceptable level of accuracy (±6%) in the numbers we publish.

This year’s survey, which asked questions very similar to the last two retail surveys we have done, came back with a very different mix of companies than the 2001 survey. In 2001 about 28% of the sample were futon specialists. This year a much larger percentage (47%) of the respondents were futon sofa sleeper specialists, and 77% of all respondents were specialty stores of one kind or another, a 12% increase from two years ago. Another aspect to note regarding this year’s group of respondents is the fact that no single company or individual store (for chains) had total sales of over five million dollars, and over 94% had sales of less than two million. This means that our sample (this year) represents smaller futon retailers across the board. Of the one hundred and thirty seven respondents ninety-four mailed in their survey, and forty-three were called at random for their response.

The best news we can report is an increase across the board in average price points for a futon sofa sleeper ensemble. In 1998 the average price point for a full size futon sofa bed with mattress and futon cover was $440.00. In 2001 it went down a bit to $410.53. This year it shot up to an all time high of $452.85 for the entire sample. Futon specialty stores moved from $453.00 in 2001 to $457.24 (a 1% increase); all specialty stores went from $364.64 in 2001 to $440.70 this year (a 21% increase); and full line stores jumped almost 28% from $384.44 in 2001 to $489.31 today. This is a significant figure when you consider that the most recent F/T consumer buying trends survey (V27N25, 2.24.03) said that the mean average a consumer is willing to pay for a "futon" (see side bar on pg. 21) was $200. They all seem to have found a way to upscale this versatile product into the $500.00 price range.

The remainder of the results offers no real surprises by falling almost point by point into the same brackets as our last two studies. Eighty-three percent of all futon sofa sleeper buyers are 45 years old or less, and eighty percent are women.

Full size, all (solid) wood bi-fold futon frames dominate the market with over eighty percent of all sales, and the guest/den/TV room once again remains the room of choice with 67% of shoppers. Kids rooms remain a puzzlingly low 5% of the market. Either parents don’t see the futon sofa sleeper as an option or the dealers aren’t really finding out where customers are putting these futon frames.

IFAM Vegas Show to Debut in February

Bentley International Group, the long-standing Trade Show and Association Management company headquartered in Las Vegas is set to launch their annual “To-The-Trade” futon furniture and accessories event.

The International Furniture & Accessories Marketplace will be held in Las Vegas, at the Las Vegas Convention Center, February 4–6, 2004. IFAM is a worldwide event created to serve the Futon Furniture & Accessory Retailers, Wholesalers and Interior Designers and Decorators across the entire spectrum of the industry as well as hospitality, contract buyers etc.

Show organizers are recommending that any company looking to participate should contact them immediately as floor space is limited.