Prime Furniture Purchasing Age Groups Average Annual Furniture Expenditures (Households) by Age Segment in Selected Years 2002 to 2013 Q2

January 17, 2014  by in General   

Prime Furniture Purchasing Age Groups Average Annual Furniture Expenditures (Households) by Age Segment in Selected Years 2002 to 2013 Q2

 

Source:  U.S. Department of Labor, Bureau of Labor Statistics, “Current Expenditure Survey”

After the recession bottomed out in 2009, expenditures in most age segments have been steadily rising to meet or surpass the average annual furniture purchases of 2002.  However, only one age group in 2012 has surpassed spending levels in 2005, the 45 to 54 age group.

 Ages 25 to 34:  This young group is the smallest of the furniture buying population (as shown in Factoid 1 of this series), but still spent on average $431 per household in 2012.  This group was the least sensitive in its spending habits during the recession compared to the older households.

Ages 35 to 44:  Although in a population decline (as shown in Factoid 1 of this series), this group has traditionally spent the most per household on furniture and continues to do so with an increase of 35% from 2009.  In 2012 the average household in this age group spent $527 annually.

Ages 45 to 54:  Now the most populated of the segments (as shown in Factoid 1 of this series) these middle-aged households spent the second highest amount per household on furniture at $423 and is the only group to surpass 2005 spending levels.

Ages 55 to 64:  While leading the growth in the furniture buying population, these Baby Boomers have been less inclined to spend money on furniture, increasing only 15% in average dollars spent from 2009.  Average expenditures are still down (-22%) from 2002 at $378 per household.  This fast-growing group spent 28% less per household on furniture than the 35 to 44 group in 2012.