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From Home Furnishing Business
Fast Fact: Married Couples with Young Children are Highest Spending Furniture Consumers
August 26,
2019 by Laurie Northington in Business Strategy, Industry
The majority of top-spending furniture consumers are high-earning married consumers, in their late 30s and early 40s with young children, living in urban areas.
According to data from the U.S. Bureau of Labor Statistics’ 2017 Consumer Expenditure Survey, young married families with the oldest child under age six had the highest average furniture expenditure at $886. The next older cohort, married households with children between 6 and 17 years of age spent 12% less at $780 annually.
Married couples with children spend more per furniture expenditure but account for less in overall furniture purchasing. Married couples without children control the largest portion of furniture purchases at 32.3 percent while single consumer units without children spend 25.7 percent.
For a closer look at the numbers, click here.