High-income households accounted for 29% of total retail dollars spent ($24.4 billion), typically spending twice as much on items like master bedroom furniture and bedding than non-affluent buyers.
In 2013, the furniture industry experienced its fourth consecutive year of growth, driven by a recovering housing market and a shift toward value-oriented and functional designs. Total consumer spending on furniture and bedding was projected to reach approximately , a 4.3% increase from the previous year. Key Consumer Segments & Behavior furniture buying trends 2013
Identified as prime "master bedroom" prospects, this generation of roughly 65 million people began heavily designing their own personal spaces in 2013. High-income households accounted for 29% of total retail
To drive value, manufacturers introduced new categories like outdoor lighting and art , noting that new accessories often became immediate best-sellers. Retail & Manufacturing Shifts Affluent Consumers Are High on Quality Product Key Consumer Segments & Behavior Identified as prime
Despite growth, about 34% of consumers postponed furniture purchases in 2013 due to lower household income, while 33% waited for sales. Trending Product Categories