HIGH POINT — As more of the U.S. population ages, furniture manufacturers and marketers have an emerging challenge — and opportunity — to create products for a sizable niche market.
According to the U.S. Census Bureau, the number of people between 65 and 84 will rise by 35 million over the next half century, representing 25% of total population growth during that time. Most of the growth is expected to occur between 2010 and 2030, according to Census projections, again marking the largest population increase during those years.
So far, most companies haven't thought much about marketing to the aging population. After all, the oldest of the baby boomers just turned 58 this year, meaning they won't reach a typical retirement age for seven years.
But many companies are starting to think of ways that their products might appeal to the older generation, including those who retire early and want to simplify their lives. The emphasis is on comfort, function and size.
Entertainment options
Lane Home Furnishings understands the trend toward scaled-back, simplified living. It believes entertainment furniture will need to mirror this trend, particularly as it relates to aging Americans.
Lane's entertainment units are not only updated for new mechanisms such as plasma TVs. Many of the units also are offered in three varying widths, ranging from 7.5 feet to 10 feet.
That's not the case with every home entertainment collection, said Skipper Holliman, vice president of sales and marketing. However, the company did take this approach with several entertainment units introduced in October 2003.
The varying sizes can benefit both an older couple living in a scaled-back home, or a younger urban couple setting up their first apartment.
Comfort in motion
The growing interest in home theater is driving new growth in motion upholstery.
That's especially true as big-screen TVs and wall units with complementing multi-media function and storage capabilities encourage people to spend more time in their living room and family room areas. For both men and women, a reclining chair or sectional heightens the comfort and livability of these gathering spaces.
"Comfort is at the top of the list and that's no different from anybody else, but the older you get, the more you want it," said Kim Shaver, director of marketing for Hooker Furniture. "That is why we got into upholstery."
Shaver was referring to Hooker's early 2003 acquisition of Bradington-Young, a move that expanded the case goods producer's reach into upholstery.
Whether the piece is an individual recliner or a motion sectional, the category continues to do well with consumers from the mid-40s on up, said Lane's Holliman.
"Reclining chairs have always been popular for middle-age consumers on up," he said, noting that reclining chairs are the company's single biggest category.
Motion is gradually adding new functionality with the emergence of lift chairs. These pieces help ease more frail bodies into the chair and lift them out of it when they are ready to get up.
Recognizing the special needs of the aging population, Lane got into the lift category in October as an extension of its motion business.
"We just felt it was the right time to get into it," Holliman said. "You still have a huge population that uses the product right now, but over the next 20 years, that is going to peak."
Flexsteel also sees home theater complementing and helping to grow motion, particularly with aging consumers. It currently offers motion sectionals as well as power recliners and power-lift recliners.
"It is becoming more pronounced than it ever was," said Tom Baldwin, Flexsteel's director of advertising and public relations, of the growing interest in home theater.
"Big-screen TVs are more popular as people start to spend more time around the home."
Space-saving stationary
As aging consumers scale back, they look for upholstery products that are functional and take up less space. That's one reason Flexsteel is seeing increased sales in sofa-sleepers.
"The second home (owner) is trying to make furniture more versatile and usable," Baldwin said. "Dual-purpose furniture definitely appeals to aging baby boomers."
The sofa-sleeper is particularly useful because some second homes have fewer bedrooms, Baldwin noted. And despite the function element, these sofas don't have to skimp on style, making them attractive in a great room or a more formal living area.
Bringing the office home
For years, home office has been a specialty for Hooker. People between ages 40 to 55 are Hooker's target customer in this category. But the category also may attract aging baby boomers, particularly as they do more consulting as part of an early retirement.
"Home office becomes more of a necessity as they get into consulting," Shaver said. "They want to keep supplementing their income, but do it in a flexible way."
The ability to work at home also will become more important for this demographic group as the cost of living rises and companies scale back retirement packages, Shaver added.
Fortunately, many will have space in their homes to incorporate offices, such as bedrooms vacated by grown children. Hooker's Ultimate Computer Cabinet fits well in such rooms, with features such as file drawers, desk and hutch and document stand, to facilitate work.
Functional bedroom
Recognizing the need for older people to maximize their space in scaled-back settings, case goods importer Kemp Enterprises is offering beds with added functionality. For instance, some of its beds have drawers on either side of the bottom for storage.
The drawers are deep and wide enough to store pillows and blankets that take up a lot of space as people downsize. They also are strategically placed so they can open without hitting a nightstand or bedside chest of drawers.
At Thomasville, executives are noticing an increase in the sales of twin beds. Ryan Tessau, merchandise manager for wood products, said that these beds are helping to outfit smaller rooms.
"We don't have those placed in all of our lines, but where we have them placed, we have done well with them," he said.
The sale of the twin beds also reflects the desire for smaller-scale products, a trend that Tessau said will continue as people get older and want to sleep in separate rooms and beds.
"It makes sense in these collections for the maturing consumer," he said.
Dining options
Kemp Enterprises sees good growth opportunities in the casual dining segment, with tables that seat four or six people. These tables could fit well in condominiums or second homes with less formal living spaces.
"Most of these places that would be downsized don't have a formal dining room," said Randol Smith, vice president of marketing.
"They have a large kitchen with a large dining area inside of it."
In response to that trend, Kemp is making a push into this category with three new groups to be introduced at next month's market. With a leaf extension, one set seats as many as eight.
"We have had some small-scale dining room in the past, but this time, we are going after casual dining more with smaller dining and smaller case pieces and pub tables and chairs," he said. "It's a new category for Kemp."
Thomasville's Tessau said that more casual lifestyles and smaller living spaces are influencing its expansion into pub tables. Those tables are narrower in diameter, but higher than typical dining tables.
Typical casual dining tables are about 30 inches high. The pub tables Thomasville introduced last October in its Urban Retreat collection are 40 inches high, Tessau said.
Along with some new pub tables, Thomasville is launching "keeping room" tables in its Irving Park collection this market. With dimensions of 36 inches by 62 inches, these tables are smaller than more formal dining tables, which are often in the 46-inch by 76-inch range.
"I think there is a movement to a more casual lifestyle for these aging baby boomers," Tessau said.
| Top 5 furniture purchases | ||
|---|---|---|
| By Empty Nesters ¹ | ||
| Bought in 2002 | Planned to buy in 2003 | |
| Percentage of U.S. households | ||
| Source: Furniture/Today Consumer Buying Trends, 2003 | ||
| Mattresses/boxspring | 9.0% | 8.2% |
| Reclining chair | 4.5% | 5.0% |
| Other home office | 3.7% | 2.4% |
| Stationary sofa | 3.7% | 4.1% |
| Desk | 3.1% | 2.1% |
| 1 = Empty Nesters are born between 1936 and 1945 | ||
| By Senior Seniors ² | ||
| Bought in 2002 | Planned to buy in 2003 | |
| Percentage of U.S. households | ||
| Mattresses/boxspring | 6.3% | 5.4% |
| Reclining chair | 4.2% | 3.7% |
| Stationary sofa | 2.1% | 1.9% |
| Glider rocker | 2.0% | 1.6% |
| Other home office | 1.9% | 1.0% |
| 2 = Senior seniors are born in 1935 and earlier | ||
