Master bedroom
By Furniture Today Staff -- Furniture Today, February 24, 2003
Master bedroom furniture ranks high on the list of products that American households plan to purchase in 2003 — second only to mattresses. In fact, consumers plan to spend over $10 billion on the category. This year, 5.2% of U.S. households say they plan to buy master bedroom furniture. They've allocated anywhere from $10 (a tag sale buy, perhaps) to more than $10,000 for their purchase. Some may be buying only a nightstand; others, the whole shebang. About one-quarter have allocated between $1,000 and $1,999 for their purchase. Only 9% plan to spend $3,000 or more, while 35% plan to spend less than $500. The median amount being allocated for master bedroom is $800.
Master bedroom budget for 2003
| % of households that plan to spend |
|
| Under $200 |
14% |
| $200–$299 |
9 |
| $300–$499 |
12 |
| $500–$999 |
20 |
| $1,000–$1,999 |
24 |
| $2,000–$2,999 |
12 |
| $3,000 or more |
9 |
As usual, most of the households planning to buy master bedroom are somewhere between 25 and 54 years old. Compared to their numbers in the population, however, those under 25 are three times more likely to be in the market for master bedroom than might be expected, while those between 25 and 34 are two times more likely to be shopping for master bedroom. Both groups are budgeting a median of $600 for their master bedroom purchases this year. The slightly older and more affluent 35- to 44-year-olds are budgeting a median of $800.
In terms of lifestage, it's the working older couples and older parents that are planning to spend the most, a median of $1,000 for each group. Planned spending also rises by income level, but slowly. The median for those with annual incomes of $20,000 to $39,999 is $600; for those with incomes between $40,000 and $74,999, the median ranges between $800 and $950. For those with incomes of $75,000 or more, the median budgeted for master bedroom holds at $1,000.
|
Income
|
% of the 3.9% of households that bought in 2002
|
% of the 5.2% of households that plan to buy in 2003
|
|
master bedroom furniture
|
| Under $20,000 |
14% |
17% |
| $20,000–$29,999 |
8% |
12% |
| $30,000–$39,999 |
11% |
11% |
| $40,000–$49,999 |
11% |
10% |
| $50,000–$59,999 |
9% |
10% |
| $60,000–$74,999 |
12% |
11% |
| $75,000–$84,999 |
8% |
6% |
| $85,000–$99,999 |
8% |
8% |
| $100,000–$124,999 |
10% |
7% |
| $125,000 or more |
9% |
8% |
| Percent of households that... |
| Shopped for master bedroom in 2002 |
7.3%
|
| Bought master bedroom in 2002 |
3.9%
|
| Plan to buy master bedroom in 2003 |
5.2%
|
|
Age
|
% of the 3.9% of households that in 2002 bought
|
% of the 5.2% of households that in 2003 plan to buy
|
|
master bedroom
|
| Under 25 |
3% |
6% |
| 25–34 |
24% |
27% |
| 35–44 |
24% |
26% |
| 45–54 |
23% |
23% |
| 55–64 |
16% |
11% |
| 65 and over |
10% |
7% |
|
Lifestage
|
% of the 3.9% of households that in 2002 bought
|
% of the 5.2% of households that in 2003 plan to buy
|
|
master bedroom
|
| Young singles |
6% |
7% |
| Middle singles |
13% |
12% |
| Older singles |
3% |
2% |
| Young couples |
10% |
13% |
| Working older couples |
15% |
11% |
| Retired older couples |
6% |
4% |
| Young parents |
18% |
20% |
| Middle parents |
11% |
14% |
| Older parents |
16% |
15% |
| Roommates |
2% |
2% |
Talkback
We would love your feedback!
