Aug. 11, 2022
Furniture Orders Still Adjusting Post Pandemic
New furniture orders were up 47 per cent in 2021 over 2020, but this comparison can be misleading, says Smith Leonard Accountants & Consultants in its ‘July Furniture Insights.’ Approximately 91 per cent of participants in the survey reported lower new orders. Year-to-date new orders were down 25 per cent from 2021, but two per cent higher than 2019 figures. For May, new orders were down 41 per cent from May 2021, but May 2021 orders were up 47 per cent over May 2020. Year-to-date, new orders were down 25 per cent from last year, but the year-to-date numbers were two per cent higher than in 2019. This factors in the price increases in late 2020, all of 2021, and into the first part of 2022. Shipments were up 10 per cent over May 2021 and up seven per cent year to date. Shipments were up for 76 per cent of the participants year to date. As shipments exceeded new orders, backlogs dropped again falling four per cent from last May when they were up 214 per cent.