Originally published in the April 18, 2015 print issue of Furniture/Today
While affluent households accounted for 22% of all furniture and bedding buyers in 2014, affluents shelled out one-third of the total dollars spent at retail last year, spending nearly $32 billion.
This income analysis derives from Furniture/ Today’s 2015 Consumer Buying Trends Survey. The exclusive survey of 2,500 U.S. households provides nationally representative purchase incidence data and for furniture and bedding products.
Affluent households are defined as having incomes of $100,000 or more. Twenty-two percent of U.S. households, 27.6 million, fall into this designation, according to Census data. Two years ago, affluents comprised 21% of total households.
There’s a simple reason affluents account for a greater percentage of the dollars spent. They spend more.
The consumer data originates from the responses of 2,500 U.S. households to an online survey conducted in December 2014 by Furniture/Today and
TNS Custom Research. 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 2.0%.
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