A special supplement to Furniture/Today
September 23, 2013
An in-depth look at who bought and who plans to buy master bedroom, casual dining and entertainment furniture Presentation sponsored by
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FURNITURE |TODAY
www.furnituretoday.com
SEPTEMBER 23, 2013
Exclusive Consumer Research
Survey: 5.5 million to buy master bedroom By Dana French Overall, 4.3% of U.S. households bought master bedroom furniture in 2012, spending a combined $8.8 billion. In 2013, 4.8% of households, amounting to 5.5 million, have master bedroom on their shopping and buying plans. Master bedroom’s purchase incidence rate has
fluctuated up and down for the past decade. In 2000, 3.9% of households bought, and by 2004 the figure had jumped to 5.4%. In 2010, the most recent time Furniture/Today conducted the Consumer Buying Trends Survey, 3.7% of households had purchased. All buyers spent a median of $599 on new master bedroom furniture last year,
Master bedroom
Amount spent
Nationally, the % of households that
Median
$599
Under $200
16%
$200-$399
20%
$400-$599
13%
$600-$999
13%
$1,000-$1,499
14%
$1,500-$2,499
12%
$2,500 or more
12%
6.8% 4.3%
4.8%
Shopped Bought Plan to for in in 2012 buy in 2013 2012
Buyer demographics Bought in 2012
Plan to buy in 2013
Age Under 35 35-44 45-54 55-64 65 and over
30% 16% 21% 17% 16%
26% 22% 18% 17% 17%
Household income Under $30,000 $30,000-$49,999 $50,000-$74,999 $75,000-$99,999 $100,000-$149,999 $150,000 or more
12% 19% 21% 21% 20% 7%
21% 17% 23% 20% 12% 7%
Residence type House Apartment Condominium Mobile home Other
65% 20% 9% 3% 3%
61% 26% 6% 4% 3%
By region
with households living in the Midwest spending the % of households living in the most, a median Midwest of $999 and Northeast 3.8% 4.4% $999 households 3.9% 4.2% $525 living in the Northeast West spending the least, a 4.5% 4.4% median of $549 $525. South Bought Plan to Median A full in 2012 buy in spent in 36% of buy2013 2012 4.8% 5.8% ers spent less $549 than $400 on new master bedroom furniture, while 26% spent between $400 and $999; 14% spent between $1,000 and $1,499; and These demographic groups plan to buy master bedroom in 2013 at a rate higher than their proportion of the population 24% spent $1,500 or more. Millennials, in the proPlan-to-buy index cess of forming new homes, Millennials 215 are excellent master bedroom prospects this year. Generation X 163 Adult Millennial members, 154 currently between the ages Household income $150,000 or more of 18 and 32, are 65 million Households living in the South 121 strong. They accounted for 27% of buying households Household income $75,000 to $99,999 117 last year and comprise 22% of those that say they’ll buy A plan-to-buy index of 100 indicates the group plans to buy the in 2013. Millennials plan product at the same rate as all U.S. households. An index number to buy at a rate 2.2 times greater than 100 indicates they plan to buy the product at a rate higher than all U.S. households. higher than their presence in the population. Baby Boomers com- sumers, Boomers accounted 57 spent a median of $849 prised two-fifth of all buy- for 58% of the total dol- and Older Boomers, curers in 2012 and since they lars spent on the category. rently between 58 and 67, paid, on average, two times Younger Boomers, currently spent the most, a median of more than younger con- between the ages of 49 and $1,549.
Target populations
About the data In this exclusive report, Furniture/Today presents the most detailed information available on consumer furniture shopping and buying plans. The consumer data originates from the responses of 3,000 U.S. households to an online survey conducted in December 2012. Furniture/Today worked with TNS, a Kantar Group Company, one of the world’s largest insight, information and consultancy groups. On a product-by-product basis, U.S. households told Furniture/Today what furniture they shopped for last year, what they actually purchased, how much they spent and what types of furniture they plan to buy in 2013. Because of the sample size and a respondent profile closely matching the demographics of all U.S. households, survey data can be projected nationally with a margin of error of plus or minus 1.8%. The research was analyzed by Furniture/Today’s research department, led by Director of Research Dana French.
Source: Furniture/Today Consumer Buying Trends Survey 2013
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FURNITURE |TODAY
www.furnituretoday.com
SEPTEMBER 23, 2013
Exclusive Consumer Research
Millennials and Younger Boomers are best prospects By Dana French This year, 4.1 million consumer households plan to buy casual dining furniture. In 2012, 5.6 million households shopped for casual dining and 62% of all shoppers, 3.6 million, actually purchased and spent $4.3 billion at retail. Those figures derive from Furniture/Today’s exclu-
Casual dining
Amount spent
Nationally, the % of households that 4.9% 3.1%
sive 2013 Consumer Buying Trends Survey. In 2010, the last time Furniture/Today conducted the survey, a slightly higher percentage of households purchased casual dining, 3.8%. All buyers spent a median of $259 on their purchase, with households living in the South spending the most, a median of $299 and those living in the West spending
3.6%
Shopped Bought Plan to for in in 2012 buy in 2013 2012
Median
$259
Under $100
21%
$100-$199
17%
$200-$299
15%
$300-$499
16%
$500-$999
20%
$1,000 or more
11%
Buyer demographics Bought in 2012
Plan to buy in 2013
Age Under 35 35-44 45-54 55-64 65 and over
28% 12% 21% 13% 26%
16% 10% 21% 24% 29%
Household income Under $30,000 $30,000-$49,999 $50,000-$74,999 $75,000-$99,999 $100,000-$149,999 $150,000 or more
15% 10% 23% 24% 14% 14%
22% 13% 29% 20% 12% 4%
Residence type House Apartment Condominium Mobile home Other
76% 15% 5% 3% 1%
72% 18% 5% 4% 1%
By region
the least, a median of only $99. Southerners recorded % of households living in the the highest purMidwest chase incidence Northeast rate as 4.0% of 3.1% $259 3.0% all Southern 4.0% 3.5% $249 households buying caWest sual dining last year. 3.9% $99 Overall, 2.8% 38% of buyBought Plan to Median ing houseSouth in 2012 buy in spent in holds paid 2013 2012 less than 4.0% $299 $200; 31% 2.7% spent between $200 and $499; 20% between $500 and $999; and 11% of consumers paid $1,000 or more for a new casual dining set. These demographic groups plan to buy casual dining in 2013 Millennials and Younger at a rate higher than their proportion of the population Baby Boomers will purchase Plan-to-buy index casual dining at significant rates this year. MillenniHousehold income $50,000 to $74,999 142 als, with adult members between 18 and 32, plan Millennials 139 to buy at a rate 1.4 times Younger Baby Boomers 125 greater than their presence in the population. Younger Household income $75,000 to $99,999 117 Boomers, currently ages 49 to 57, plan to buy at rates Households living in the South 111 1.3 times higher than their population presence. In A plan-to-buy index of 100 indicates the group plans to buy the 2012, Millennials spent product at the same rate as all U.S. households. An index number a m e d i a n o f $ 1 9 9 a n d greater than 100 indicates they plan to buy the product at a rate Younger Boomers spent a higher than all U.S. households. median of $349. The middle class, with incomes between $50,000 income buyers accounted earning $100,000 or more a n d $ 9 9 , 9 9 9 , c o m p r i s e for 47% of those buying yearly, were 28% of buyers the bulk of casual dining and 47% of the total dol- and comprised 37% of total buyers. Last year, middle- lars spent. Affluent buyers, dollars spent at retail.
Target populations
Complete report available The complete Consumer Buying Trends report, with results for 22 home furnishings categories, including the three case goods categories presented here, plus master bedroom, formal dining, bedding, stationary sofas, motion sofas, recliners and outdoor dining sets, the home accent categories of area rugs, lamps, mirrors and framed art, and the home textiles categories of top-of-bed linens, sleep pillows and mattress protectors, is now available online through Furniture/Today’s Research Store. The 93-page report costs $199 and includes detailed demographic information and targeted buying patterns by region, age and income level. Please go to Furniture/Today’s Research Store to purchase. http://furnishingsresearchstore.com/ft.html
Source: Furniture/Today Consumer Buying Trends Survey 2013
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FURNITURE |TODAY
www.furnituretoday.com
SEPTEMBER 23, 2013
Exclusive Consumer Research
Millennials plan to buy entertainment at high rates By Dana French 5.2 million U.S. households bought entertainment furniture in 2012, making it the most-bought case goods product and the fourth-most popular furniture product overall. This year, another 5.5 million households plan to buy entertainment furniture. In 2012, entertainment furni-
ture garnered an estimated $5.5 billion at retail. The purchase incidence level for entertainment peaked in 2004 and 2006 when flat-screen TV’s and household gaming equipment became commonplace. In 2004, 6.9% of all households bought entertainment and in 2006, 7.5% of households purchased. In 2010, the purchase rate
Entertainment furniture
Amount spent Median
$199
Nationally, the % of households that
Under $100
15%
$100-$149
19%
$150-$199
11%
$200-$249
16%
$250-$349
15%
$350-$599
14%
$600 or more
10%
7.7%
4.5%
4.8%
Shopped Bought Plan to for in in 2012 buy in 2013 2012
Buyer demographics Bought in 2012
Plan to buy in 2013
Age Under 35 35-44 45-54 55-64 65 and over
20% 18% 20% 16% 26%
19% 14% 20% 20% 27%
Household income Under $30,000 $30,000-$49,999 $50,000-$74,999 $75,000-$99,999 $100,000-$149,999 $150,000 or more
9% 20% 19% 27% 18% 7%
28% 20% 18% 18% 12% 4%
Residence type House Apartment Condominium Mobile home Other
74% 15% 5% 5% 1%
67% 20% 6% 2% 5%
Source: Furniture/Today Consumer Buying Trends Survey 2013
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By region
eased to 4.6% and held relatively flat at % of households living in the 4.5% in 2012. Overall, buyMidwest ers spent a meNortheast dian of $199 5.2% 5.0% 5.9% on entertain$199 West 3.7% ment pieces, $199 the same 5.2% amount $155 3.2% they paid two years South Bought Plan to Median ago. More in 2012 buy in spent in than one2013 2012 5.2% 3.5% $199 third of buyers paid less than $150; 27% spent between $150 and $249; 29% between $250 and These demographic groups plan to buy entertainment $599; and 10% of consumfurniture in 2013 at a rate higher than their proportion of the ers spent $600 or more. population Affluent households Plan-to-buy index paid considerably more than the average buyer: Millennials 146 households earning beHouseholds living in the Northeast 123 tween $100,000 and $149,999 spent a median Generation X 115 of $299 and households with incomes of $150,000 Households living in the West 108 or more spent a median Younger Baby Boomers 108 of $515. The affluent comprised 25% of all buyers A plan-to-buy index of 100 indicates the group plans to buy the and since their purchase product at the same rate as all U.S. households. An index number price was often two times greater than 100 indicates they plan to buy the product at a rate more, 37% of the total dol- higher than all U.S. households. lars spent on the category. By generation, Millen- to buy at a rate 1.5 times higher than their populanials and Generation X are higher than their presence tion presence. Last year, the best prospects for buy- in the population. Genera- Millennials spent a median ing entertainment in 2013. tion X, with members be- of $199 and Gen X houseMillennials, with adults be- tween ages 33 and 48, plan holds spent a median of tween ages 18 and 32, plan to buy at a rate 1.2 times $225.
Target populations
Respondent profile Region Northeast .............................21% Midwest ...............................26% South....................................33% West .....................................20% Household income Under $30,000 ....................... 23% $30,000 to $49,999 ............... 22% $50,000 to $74,999 ............... 21% $75,000 to $99,999 ............... 17% $100,000 to $149,999 ........... 12% $150,000 or more .................... 5%
Terms used in the report Households: all those living together in one housing unit. They may be related family members or unrelated individuals sharing housing as partners. Median: the measure that divides the response into two equal portions, one above and one below, the median. Household income: the total combined income of all household members.
Millennials: born between 1981 and 2000. The data includes adult Millennials only, those between the ages of 18 and 32 in 2013. Generation X: born between 1965 and 1980 and are ages 33 to 48 in 2013. Younger Baby Boomers: born between 1956 and 1964 and are ages 49 to 57 in 2013. Older Baby Boomers: born between 1946 and 1955 and are ages 58 to 67 in 2013.
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