Due to high unemployment rates, lower marriage rates, and a fallen median income, Millennials are arriving late to the home buying industry and in turn the home furnishings industry.
J.C. Penney reported a 2.2% quarterly same-store sales increase, and CEO Marvin Ellison stressed the importance of brick-and-mortar stores to expanding online sales.
There’s been slow growth in the bedding industry this year with bedding sales in the second quarter of 2016 up only 2.0 percent quarter over quarter totaling $3.42 billion.
According to a research study conducted by leading global technology research and advisory company Technavio, analysts forecast the recycled office furniture market in the US will reach $2.68 billion by 2020.
Tempur Sealy International, Inc. (NYSE: TPX), the world's largest bedding provider has reported its best quarter in the Company’s 20 year history for sales, adjusted EBITDA and adjusted EPS, for the second quarter that ended June 30, 2016.
The total value of furniture imports in the first half of this year recorded an all-time high breaking last year’s record, according to customs data on July 18.
Millennials, the cohort of Americans born between 1980 and the mid-2000s, are the largest generation in the U.S., representing one-third of the total U.S. population in 2013.