From Home Furnishing Business
Fast Fact: Gen X, Household Expenditures Top Baby Boomers
At a fraction of the population size of Baby Boomers and Millennials, Generation X is the top contributor in household spending – most importantly furniture spending.
Data from the latest Consumer Expenditure Survey by the Bureau of Labor Statistics shows that Generation X spent an average annual expenditure of $744 on furniture in 2016 – averaging 24 and 26 percent higher than Baby Boomers and Millennials.
The current spending by Gen Xers paired with the influx of Millennials maturing into furniture-buying years bodes well for the industry.
For an in-depth look at the numbers, click here.