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From Home Furnishing Business
FastFact: Consumers Boost Furniture Spending
August 25,
2014 by in Economic News, Industry 
Consumers have boosted their annual furniture spending since the end of the recession in 2009.
According to this week’s FastFact, all but one age group as broken down by the U.S. Department of Labor had increased its annual furniture buy through the second quarter of 2013.
While last week’s FastFact was similar to this, this week we look beyond 2012. Today, we take it farther through the second quarter of 2013. Today’s data includes the 2008 recession. Our FastFact shows the increase in average furniture expenditures following the end of the recession in 2009.
All consumer groups combined spent an average of $393 through the second quarter of 2013. During 2009 that annual number was $343.
Lagging behind the other groups, 25-to-34-year-olds spent an average of $432 during 2009, and only spent $420 through the second quarter of 2013. While there is still time for the group to catch up, it is behind compared to other groups included in the examination.
According to the U.S. Department of Labor, only the 45-to-54-year-old age group has come close to reaching its 2005 spending level. This group has increased its annual spending on home furnishings by 38 percent.
The 35-to-44-age group spends the most annually on furniture, and it has experienced a 35 percent increase from 2009. This group spent an average at $527 on home furnishings for the second quarter of 2013. This age group historically has been the big spenders on home furnishings in part because they’re the age group raising families and buying larger homes.
The complete Factoid is available online.