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Industry Profilers and PowerPoints
Up-to-date reports on more than 150 retail sectors.
Homes Sales Drive Furniture Sales
- The US Census Bureau reported that sales of new single-family houses during August 2014 were at a seasonally adjusted annual rate of 504,000 units, or an 18% increase over July’s 427,000 homes and 33% more than August 2013’s 379,000 homes.
- For September 2014, sales of existing US homes decreased 1.7% or an adjusted annual rate of 4.75 million; however, the median price increased 11.3% compared to September 2011.
- As the median price continues to increase, more owners will put their homes on the market and, coupled with mortgage rates at almost their lowest ever, most housing experts expect to see improvement in existing home sales.
Automotive Update Reports
Latest topics and issues in the automotive industry and dealerships.
WILL AGING CARS BOOST NEW SALES?
Approximately 34 million new light vehicles were sold during 2014 and 2015, and through October 2016, an additional 14.47 million, or a grand total of 48.47 million. Add November and December 2016, and the three-year total will likely exceed 51 million.
Why, therefore, did the average age of cars and light trucks on the road increase to 11.6 years during 2016? IHS Markit estimates that the total number of light vehicles on US roads is 264 million, and 18.4% of them are those 48.47 million new vehicles sold during the last 34 months.
IT’S TIME FOR SMALL BUSINESSES TO HITCH THEIR STAR TO VIDEO
According to a February 2017 report from BIA/Kelsey, local businesses may be using online videos in multiple channels for advertising and promotions, but only a small percentage of them.
It’s time local businesses made video an integral – if not their primary online marketing content – as Cisco’s Visual Networking Index forecasts that “the global consumer Internet video traffic will account for 80% of all consumer Internet traffic” by 2019.
In-depth reports on the most important media, retail, marketing and demographic topics.
The Evolving Consumer
Consuming in a World of Contrasts
It appears many (if not most) Americans are living one life with two contrasting mindsets. Understanding these mindsets is the first step in understanding how consumers are evolving and creating challenges and opportunities to retailers.
The Positive Mindset
- More of them are working, with more disposable income to spend.
- They’re buying new vehicles in record-setting numbers and are able to afford a first or new home with historically low mortgage interest rates.
- Inflation is less than 2% and is forecast to increase to a moderate 2.4% for all of 2016.
- According to the American Automobile Association, every driver had an extra $550 in his or her pocket during 2015 because of the very low gasoline prices. Research shows that much (80%) of the $115 billion in gas-pump savings was spent.