Youth bedroom furniture expectations promising
By Daphne Garland-McLean -- Kids Today, 4/1/2009 12:00:00 AM
Though economic woes continue to plague the country, growth expectations for youth bedroom furniture are promising. According to the latest data from Easy Analytic Software Inc. (EASI), based in New York, youth bedroom furniture is expected to grow 12.7%, from $4.6 billion in 2008 to $5.2 billion in 2013.
Metro outlook
A healthy growth pattern is expected for many metros in the West. Fernley, Nev., St. George, Utah, and Pahrump, Nev., in particular, are all expecting to increase youth bedroom furniture sales at rates above 30%. By 2013, Fernley, Nev. expects to see a 37.5% increase in sales. St. George, Utah, is estimated to grow by 34.8% and Pahrump, Nev., will generate a 30.7% sales growth.
Metropolitan areas in the South are also on track to soar with regards to youth bedroom furniture sales. Three Florida metros top the list of the fastest-growing and seem to be on target to experience exceptional growth rates over the five-year timeframe. As in past years, Palm Coast, Fla., leads the way among not only the South's fastest-growing but among all metros, with its anticipated 44.8% growth rate. It is followed by The Villages, Fla., with an expected 33.8% increase and Cape Coral-Fort-Myers, Fla., with a projected 28.9% jump in youth bedroom furniture sales.
Sioux Falls, S.D., is expected to be the fastest-growing metro in the Midwest. This metro is expected to increase youth bedroom sales from $3.6 million in 2008 to $4.3 million in 2013, showing 19.9% growth. Not far behind, East Stroudsburg, Pa., is anticipating growth at 18.7% giving it the top spot among the fastest-growing in the Northeast.
Glimpse into the largest markets
The 10 largest markets for youth bedroom furniture, based on sales dollar volume, range in growth rates from 8% for the Greater New York market to 21.2% for the Atlanta-Sandy Springs-Marietta, Ga. market. Four of the 10 largest markets for youth bedroom furniture are expected to produce sales figures by 2013 that exceed the national growth average of 12.7%. The Greater Atlanta market with its expected increase from $78.9 million to $95.7 million takes the lead. Dallas-Fort Worth-Arlington, Texas is forecasted to grow by 20.5% and Houston-Sugar Land-Baytown, Texas is predicted to reach a 19.9% growth level. Washington-Arlington-Alexandria, D.C.-Va.-Md.-W. Va. at 12.9% growth, rounds out the four largest markets with estimated growth above the national average.
EASI's figures are based on changes in population levels, age, ethnicity and household growth within the various regions. However, changes in local or national economic conditions, such as plant closings or the credit crunch are not taken into account. EASI assumes an inflation rate that does not vary from one metropolitan area to another.
25 fastest-growing metros for youth bedroom furniture 2008-2013
consumer spending in millions
| Metro | 2008 estimated | 2013 projected | percent change |
| Source: Easy Analytic Software Inc. and Kids Today market research |
|||
| Palm Coast, Fla. | $1.6 | $2.3 | 44.8% |
| Fernley, Nev. | 0.8 | 1.1 | 37.5 |
| St. George, Utah | 1.8 | 2.4 | 34.8 |
| The Villages, Fla. | 1.3 | 1.7 | 33.8 |
| Pahrump, Nev. | 0.7 | 0.9 | 30.7 |
| Cape Coral-Fort Myers, Fla. | 10.4 | 13.4 | 28.9 |
| Bend, Ore. | 2.4 | 3.1 | 28.8 |
| Culpeper, Va. | 0.7 | 0.9 | 28.8 |
| Heber, Utah | 0.3 | 0.3 | 27.9 |
| Cedar City, Utah | 0.5 | 0.7 | 27.9 |
| Raleigh-Cary, N.C. | 16.9 | 21.5 | 27.7 |
| Myrtle Beach-Conway-North Myrtle Beach, S.C. | 4.1 | 5.2 | 27.2 |
| Bozeman, Mont. | 1.4 | 1.8 | 26.9 |
| Las Vegas-Paradise, Nev. | 27.7 | 35.1 | 26.8 |
| Greeley, Colo. | 3.5 | 4.5 | 26.7 |
| Austin-Round Rock, Texas | 25.0 | 31.4 | 26.0 |
| Phoenix-Mesa-Scottsdale, Ariz. | 63.2 | 79.6 | 26.0 |
| Ocala, Fla. | 5.5 | 6.9 | 25.5 |
| Gainesville, Ga. | 2.5 | 3.1 | 25.5 |
| Prescott, Ariz. | 3.6 | 4.5 | 25.3 |
| Boise City-Nampa, Idaho | 8.6 | 10.8 | 25.0 |
| Charlotte-Gastonia-Concord, N.C.-S.C. | 25.9 | 32.3 | 24.7 |
| Wilmington, N.C. | 5.7 | 7.0 | 24.3 |
| Port St. Lucie, Fla. | 6.8 | 8.4 | 24.0 |
| Provo-Orem, Utah | 5.3 | 6.6 | 23.9 |
Top 10 largest metro markets for youth bedroom furniture 2008-2013
consumer spending in millions
| Market | 2008 estimated | 2013 projected | percent change |
| Source: Easy Analytic Software Inc. and Kids Today market research |
|||
| New York-Northern New Jersey-Long Island, N.Y.-N.J.-Pa. | $285.9 | $308.7 | 8.0% |
| Los Angeles-Long Beach-Santa Ana, Calif. | 173.9 | 190.2 | 9.4 |
| Chicago-Naperville-Joliet, Ill.-Ind.-Wis. | 140.8 | 155.8 | 10.7 |
| Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md. | 91.2 | 99.9 | 9.5 |
| Dallas-Fort Worth-Arlington, Texas | 91.1 | 109.7 | 20.5 |
| Miami-Fort Lauderdale-Pompano Beach, Fla. | 85.9 | 96.2 | 12.1 |
| Washington-Arlington-Alexandria, D.C.-Va.-Md.-W. Va. | 83.5 | 94.2 | 12.9 |
| Houston-Sugar Land-Baytown, Texas | 80.6 | 96.6 | 19.9 |
| Atlanta-Sandy Springs-Marietta, Ga. | 78.9 | 95.7 | 21.2 |
| Boston-Cambridge-Quincy, Mass.-N.H. | 72.9 | 78.8 | 8.1 |
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