From Home Furnishing Business
FastFact: Baby Boomers Expected to Increase Households
Over the next six years, the 55-to-64-year-old age group will continue to grow and will continue to increase in the number of furniture buying households.
The subset of the baby boomers is projected to make up 19 percent of the furniture buying population by 2020.
Research from the U.S. Department of Commerce and Impact Consulting Services suggests that by 2020, this age group will have 26 million furniture buying households. That figure was 22 million in 2010.
Unlike the 55-to-64-year-old group, the other three buying groups—25-to-34-year-olds, 35-to-44-year-olds and 45-to-54-year-olds—represented on our graph will likely experience some decrease in numbers over the next six years.
The 35-to-44 group, considered the prime furniture buying group, is expected to hold relatively steady from now through 2020, while the 45-to-55-year-old group will steadily decline over the next six years.
The younger group, 25-to-34-year-olds, are projected to rise 15 percent between 2000 and 2020.
The complete factoid can be found online.