Daily News
From Home Furnishing Business
Fast Fact: Gen X are Prime Consumers, Millennials Close Behind
May 6,
2019 by Laurie Northington in Business Strategy, Industry 
A more affluent Generation X population paired with the sheer size of Millennials, now fully in adulthood, and Baby Boomers aging out of prime furniture buying years has created a shift in consumer spending over the past few years, according to data from the U.S. Bureau of Labor Statistics.
With the highest income and an average age of 44.3, Gen Xers are the industry’s prime consumers, while the average Millennial is yet to reach 30 with many earning years ahead. In fact, Millennials have now surpassed Gen Xers in the number of individuals in the U.S. workforce.
Generation X represents the bulk of families with children, thus a greater need for bigger homes with more furniture. In 2017, Gen X had an average of 3.1 people per household. Meanwhile, Millennials are starting to have children at a higher pace – bumping up the average size of a Millennial household to 2.6.
For an in-depth look at the data, click here.