From Home Furnishing Business
FastFact: Top Income Tier Spends Double on Furniture than Next Group
As expected, higher income households tend to spend more on home furnishings than those in lower income brackets.
Households with incomes of $150,000 or more spent an average of $1,311 during the second quarter of 2013, according to the U.S. Department of Labor and the Impact Consulting model.
Although this income group makes up only 9.5 percent of the total furniture buying population, it is spending almost twice as much annual as those in the $100,000 to $149,000 income bracket. That group spend an average of $681 on home furnishings during the same time period.
To gain an understanding of the big picture, the lowest income group of $20,000 spent $103 on furniture in the second quarter of 2013.
The complete FastFact is available online.