Consumer buying trends
Furniture/Today tracks purchasing by generation
By Dana French -- Furniture Today, December 30, 2001
Every consumer fits into a generation category, and most consumers are defined by their generation.
While retirees have more time and, sometimes, less money to spend, Gen Y's are just starting their lives on their own and beginning their working careers.
Generation Y
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More than 2.3 million households in the United States.
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More than half (52%) have never been married.
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More than two-fifths of females (43%) and more than one-third of the males (36%) have attended some college but have not graduated.
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Three-fourths of females are split between working full time or not being employed.
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More than three-fourths (77%) of males work full-time.
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Necessities appear to drive the most popular furniture choices, starting with mattresses/boxsprings.
Generation X
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Approximately 14.6 million households in the United States.
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Almost two-thirds (63%) are married.
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This is the most educated generation to date: 29% of females and 25% of males have a four-year college degree. Another 8% of females and 11% of males have post graduate degrees.
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More than half (54%) of females work fulltime, and 90% of males have full-time jobs, thus creating dual-income households with huge buying potentials.
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Almost one-third (32%) of females and more than a third (36%) of males have managerial and professional jobs.
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Two-thirds of this generation live in a house, while nearly one-fifth still are in apartments.
Younger baby boomers
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Approximately 22.2 million households in the United States.
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Household incomes are growing with this group — almost one-fourth have household incomes of $50,000 to $74,999, and one-fourth have incomes of $75,000 or more.
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Nearly a quarter (23%) of females have four-year college degrees, and more than a half (56%) work fulltime.
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Nearly a quarter of males (23%) have four-year college degrees, and 12% have post graduate degrees.
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Nearly 40% of males work in managerial and professional careers.
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Almost two-thirds of the younger boomers are married.
Older baby boomers
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Approximately 23.3 million households in the United States.
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Slightly more than one-fifth of this generation have household incomes of $50,000 to $74,999, and nearly one-third are in the $75,000 and over income bracket.
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More than three-fifths (63%) of older boomers are married, and almost one-fourth (24%) are divorced, widowed or separated.
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Nearly 20% of females have four-year college degrees, and 14% have post graduate degrees — the highest percentage of females among generation groups.
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Almost three-fifths (58%) of females work full time, and another 17% work part time.
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Two-fifths of older boomer males work in managerial/professional careers.
Empty nesters
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Approximately 16.6 million households in the United States.
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More than three-fourth of empty nesters live in a house, with a whopping 83% own or buying their home.
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Male empty nesters have the most formal educational training, with 17% graduated from a four-year college and another 17% with post-graduate degrees.
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More than half (52%) of the males are employed full time, and more than one-third (36%) are retired.
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Nearly 60% of the empty nesters are married, and almost one-third are divorced, widowed or separated.
Retirees
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Approximately 23.7 million households in the United States.
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Income levels for retirees take a down turn, as more than two-fifths have household incomes under $20,000.
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Only 10% of retirees have household incomes of $75,000 or more.
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Almost one half of the retirees are divorced, widowed or separated, and more than two-fifths (44%) are married.
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While the majority in this age group are retired, 14% of females and 19% of the males still work full- or part-time.
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Graphics by Furniture/Today
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