Strong Memorial Day weekend sales propelled a healthy uptick in revenues reported by many retailers in June. “It’s too early to forecast our recovery from the pandemic recession as a perfect “ V,” but business is coming back better than most expected,” said Ken Smith, Assurance Partner and Editor of Smith Leonard Accountants and Consultants’ Furniture Insights newsletter.
“There’s no historical precedent to help us anticipate the months ahead,” said Smith, “but anecdotal responses from our network are very encouraging.” In part, this optimism is based on indications that consumers have taken a fresh and often critical look at their surroundings as they spend more time at home. “Sitting on uncomfortable, outdated sofas for two months made people rethink their furniture choices,” he said.
For Christi Barbour, Founder and Partner with Barbour Spangle Design, this fresh look has translated into new business. “We heard a lot of ’I can’t take it anymore’ from clients who had delayed renovations before the pandemic. Once it was safe to do so, we’ve been meeting to get started because after weeks in lockdown, those projects have become their top priority.”