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Factoids offer brief snapshots of current topics pertinent to the Furniture industry based on our on-going research. Increase your grasp of current trends, consumer attitudes, and shifts within the industry through solid statistics and concise insight.

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Prime Furniture Purchasing Age Groups: Growth in Furniture Buying Population (Households) by Age Segment: 2000 to projected 2020

 

Source:  U.S. Department of Commerce, “Current Population Report Projections” and Impact Consulting Services model.

 

Based on current population projections, Households in the Age Segment 55 to 64 will continue to increase at a staggering rate.  With an estimated rise of 77% from 2000 to 2020, Ages 55 to 64 will make up the vast majority of the furniture buying population.  While Ages 25 to 34 are projected to rise 15% over the 20 year span,  Ages 35 to 44 (considered the prime furniture purchasers) are estimated to fall (-7.5%) with Age Group 45 to 54 finishing flat at a 0% growth in 2020.  In 2020,  Age Segment 55 to 64 is projected to make up 19% of the furniture buying population, while the three younger generations will each be responsible for roughly 16%.

 



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FastFact: Baby Boomers Expected to Increase Householdshttp://furniturecore.com/HFBusiness/HFBNow/ArticleID/11421/fastfact-baby-boomers-expected-to-increase-households1.aspx
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