From Home Furnishing Business
FastFact: Millennials to Boost Housing
As millennials begin to edge out the baby boomers and gen Xers, the housing and home furnishings industry is going to see some major changes.
Over the next decade, more and more millennials will be buying starter homes and investing more money into home furnishings. Already, we have seen that millennials have had little tolerance for “business as usual,” with the millennial-driven rise of companies like Casper Sleep and Ikea.
By the end of the year, boomers will no longer be the largest living generation, and as the heart of the millennial generation starts to graduate from college and move from dorms to apartments and homes, the online generation will undoubtedly bring some changes to the industry.
While we can’t be sure of what changes are in store, one thing is certain about this generation: they push for innovation. The next 10 years will be an exciting time for the furniture industry.
The complete FastFact is available online.