From Home Furnishing Business
FastFact: Boomers, GenX Pace Consumer Spending on Furniture
Despite their waning influence as they age out of their prime spending years, Baby Boomers still control the greatest portion of consumer spending on furniture and bedding, according to the Bureau of Labor Statistics.
The Bureau’s 2016 Consumer Expenditure Survey showed that Boomers were responsible for 34.7% of consumer spending on furniture and bedding, edging out Generation X, which had 34%.
Millennials were responsible for 22.4% of spending, but spending for that group is growing rapidly as their household incomes rise and they begin having families.
For a detailed look at the numbers, click here.