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From Home Furnishing Business
FastFact: Average Furniture Buy by Age
August 18,
2014 by in Furniture Retailing, Industry 
This week’s factoid is a continuation of last week’s topic and examines the relationship between the furniture industry and the age of the population. The factoid presents the average annual furniture spending by age group.
The Baby Boomers are on the lowest end of the spectrum, with average furniture purchases of $378.
In a similar comparison to our most recent factoid, the group driving up furniture sales and expenditures is Generation Y.
Over the next 10 years, the youngest members of Gen Y will be about 20 years old. The majority of this generation will be established in the workforce, or entering it. If history repeats itself, Gen Y, falling only second in numbers behind Baby Boomers, will cash in their paychecks and start spending more on furniture.
Next week’s FastFact pair will examine further the furniture purchasing population along with income considerations.
See the full factoid online.