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Furniture Industry Predicted to Enjoy Large Profits in 2012

As the economy continues to slowly improve due to increasing consumer confidence, many industries that previously felt the pressure of low demand are now experiencing a renewed customer base.

The woodworking business is one such industry that is enjoying an upward trend, and new statistics show that furniture companies stand to benefit the most in the upcoming fiscal years.

According to Woodworking News, IBM recently released a report that claimed sales of home furnishings in the United States are expected to increase by 8 percent in the second quarter of 2012, up to around $23.222 billion in total revenue. The combination of in-store and online sales are expected to increase around 16.6 percent.

Consumers are opting to give their home a new-look by remodeling and accessorizing. New towels, bedding or even a picture can really spruce up a room
Jill Puleri, retail leader IBM Global Business Services

Retailers can benefit from this behavioral shift by considering product mix, promotion and presentation and by marketing home accessories aggressively.

This statement also applies to wood machinery providers, who could gear a product like a CNC router to home furniture manufacturers. Such a device could help woodworking professionals improve the efficiency of their daily operations.