Age Shift Impacts Furniture

Age Shift Impacts Furniture

Posted by Whitney

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3/26/15 5:33 AM

We always hear that change is the only constant. Understanding who your cusotmer is is the bases for making decisons on product line, advertising, marketing strategy, and many other buisness practices. HFB recently wrote an article about one of the major shifts occuring recently and how that might impact some of your key decisions.

Major shifts are occurring in the populations and purchasing habits of the four prime purchasing age groups for the furniture industry. The two older groups—ages 45 to 54 and ages 55 to 64—are quickly surpassing the younger generations in size.

Households ages 35 to 44 (Gen X), traditionally the core of the furniture industry, are in sharp decline. While the youngest age group tracked, ages 25 to 34 (Gen Y), has shown little growth since 2000, it does show great potential for the industry. As the second-highest birth rate generation, the numbers will be impressive as the group ages into the furniture buying segment.

- See more here.

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