Kids need furniture; parents buy it
Young, middle parents may have low budgets, but they will buy in droves
By Furniture Today Staff -- Furniture Today, September 9, 2001
Who are the best prospects for youth bedroom? Why, young and middle parents, of course.
These two lifestage groups together account for 73% of the households planning to buy youth bedroom furniture this year. This translates into approximately 2 million young parents and three-quarters of a million middle parents in the market. Together, these two groups plan to spend more than $750 million.
Young parents offer the strongest market for youth bedroom furniture. Their spending budget, $300, is on target with the national median, but at a rate 4.5 times higher than their presence in the national population.
Middle parents are planning to buy youth bedroom at a rate 2.1 times higher than their presence in the national population. But their budget — at a median of $250 — is $50 lower than the national median.
Who are the young parents buying youth bedroom?
Young parents account for households just starting out as well as those that are more established. More than half of young parents shopping for youth bedroom furniture this year are between ages 25 and 34 and one-third are between ages 35 and 44.
This segment of consumers is near its starting income levels, with almost half reporting incomes under $40,000. However, for many of these households, annual income will only increase, and furniture retailers that can establish a lasting relationship early on can benefit.
One area impacting household income is the number of stay-at-home moms: Nearly half (42%) of these young mothers are not employed at all outside the home, and one fifth (21%) work at a part-time job.
Young parents planning to buy youth bedroom furniture have other earmarks of newly established homes:
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Two-thirds of the young parents who said they are shopping for youth bedroom furniture this year own or are buying their homes, while nearly one-third are renting.
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More than one-fourth of the females and slightly over one-fifth of the males have a four-year college degree.
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More than one-third of the dads are in managerial/professional occupations and nearly one-third are in craftsman/repair/operator/laborer occupations.
Who are the middle parents buying youth bedroom?
Middle parents are generally more established households. For the most part their incomes have started to increase — nearly 20% of those planning to buy youth bedroom furniture have incomes of $75,000 or more.
This group is growing up, too, with nearly three-fourths of the middle parents planning to buy youth bedroom furniture between the ages of 35 and 44.
A few more from this group have bought their own homes, with those that own or are buying their residence moving from 67% (young parents) to 71% (middle parents).
And family size is increasing as well. More than two-fifths have a four-member household, while over one-fourth have households of five members or more.
In terms of employment, more moms have returned to work by this life stage: 54% are employed full time, and only 22% do not work outside the home at all.
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