Americans are also putting off major home improvement projects.  For example, 81% of the members of my proprietary HomeTrend Influentials Panel say they are reluctant to undertake major home improvement or remodeling projects right now.

There is a group of consumers who are spending on home furnishings, housewares, and home decor regardless of the economy and that is new movers.  According to marketing services firm Epsilon, the average new resident spends $7,300 on everything from window treatments to take-out meals in the three months following a move.  During the year of their move, they spend 52% more than non-mover households on home decor and home furnishings.   And while the number of new movers may be down (20% decine year-over-year in November 2008 according to Epsilon), the number of households who will be moving this year is still huge -- in excess of 14 million.  

Targeting the new mover is always a smart marketing move but in times like this when most consumers are cutting back on what they spend on "non-essentials", it may be one of the only ways to grow your business.

To learn more about the new mover market, click here to go to Epsilon's "Target: New Mover" report.