Factoring 101 Blog - Acounts Receivable Factoring and Other Industry News

Chat Group Sales on the Rise

Chat group sales have been on the rise, and all signs show that they will continue to rise. According to Casual Living total sales for chat groups reached $1.09 billion in 2015, a 6.4% increase over 2014's $1.02 billion, and 37% of consumers that they surveyed plan to purchase chat group furniture to improve their outdoor spaces in 2016.

The most popular piece of furniture included in chat groups are chairs with 89% of chat groups including at least one chair. Chairs are closely followed by occasional tables which can be found in 73% of chat groups. After that the numbers drop down significantly. Only 36% of chat groups feature sofas, while 27% of chat groups contain a love seat. 24% of chat groups are centered around a fire pit, and 20% of them include an ottoman.

As for how many people chat groups can seat, 40% of chat groups in the US can seat 4 people comfortably, while 24% seat 6 comfortably. After that you will find the 18% of chat groups can only seat 2 people, while 13% of chat groups can seat 8 people. Only 5% of chat groups can seat 10 or more people comfortably. However, in the Northeast chat groups run a bit larger, approximately one third of chat groups in the Northeast are capable of seating 8 people comfortably.

When it comes to how long consumers expect their chat group to last, a little less than half of all consumers expect to only get as much as 5 years out of their chat group, while only one in ten consumers expects their chat groups to last more than 10 years. On average, consumers expect their chat group to last for about 6 years. These numbers do however vary my region and demographics. Those who live in colder climates tend to expect more life out of their chat groups. In the Northeast consumers expect their chat group to last for 10 years on average, while in the Midwest consumers expect to get 8 years out of their chat group. However, in the South consumers only expect to get 6 years out of their chat group on average, and in the West this number drops down to only 5 years. When it comes to income level, middle income consumers, those making between $50,000-$100,000 a year, expect to get 10 years of life out of their chat groups, while lower income and higher income consumers only expect to get 5 or 6 years out of their chat groups. Baby Boomers also expect a lot, they look to get 10 years out of their chat group, while Millennials and Generation Xers only expect to get 5 years.

The most popular months for buying furniture for a chat group, which should come as no surprise, are March thru June. May is by far the most popular month with nearly a quarter of all sales coming in that month. However, in the Midwest, consumers like to shop a bit early, making March the Midwest's most popular month for casual furniture sales. Sales are pretty flat in July, but pick up a little in August as retailers tend to put existing stock on sale before sales die down for the winter.

With the casual furniture industry headed into its busy season, its important that you are able to keep up with growing demand. As the orders are coming in, if you need help with your cash flow, give DSA Factors a call today at 773-248-9000. We have the experience and expertise you need to help grow your business and manage seasonal demands through our accounts receivable factoring.

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