Gen X & Y increasing market share in furniture sales

It might not be the most scintillating heading ever, but its another exhibit in the growing body of research that is showing the importance of the generations AFTER the Baby Boomers. In Furniture Today, the results of new research were recently released. It may not be interesting to everyone, but it is indicative of the fact that Gen X and Y are growing up, and that their new lifestages are pushing them into new consumer segments. They’re not just “kids” anymore – they’re serious consumers.

“The combination of the higher purchase rates and the tendency to buy better beds gives Generation X (defined in this survey as born 1965 to 1975) and Y (defined as born 1976 to 1994) consumers a big edge in the marketplace. Households in Generation Y spent $3.1 billion on bedding last year — tops among all groups — while Generation X shelled out $2.4 billion, the Furni-ture/Today research indicated.

Younger Baby Boomer households spent $2.1 billion on bedding last year, with Older Baby Boomers not too far behind at $1.8 billion.

The two other major demographic groups — the Happy Days Generation (consumers born between 1936 and 1945) and Senior Seniors (born in 1935 or before) — were far behind the younger groups. The former spent $700 million on bedding last year, with Senior Seniors bringing up the rear at $500 million.”

Details of the survey available here.

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