Dining room
By Furniture Today Staff -- Furniture Today, February 24, 2003
In 2003, U.S. households have allocated close to $7 billion to buy dining room furniture — one of the largest outlays planned for any furniture product — accounting for 9% of the total planned spending on furniture this year. It's not on the shopping list of as many households as many other products, since only 2.8% of U.S. households plan to buy dining room furniture, but those that are planning to buy expect to spend more — a median of $1,000.
In the case of formal dining room, annual income does matter — the amount households plan to spend rises directly with their annual income.
Planned spending for dining room in 2003
% of households that plan to spend by annual income
|
Median |
| Under $20,000 |
$400 |
| $20,000 – $29,999 |
500 |
| $30,000 – $49,999 |
700 |
| $50,000 – $84,999 |
1,000 |
| $85,000 – $124,999 |
1,500 |
| $125,000 or more |
2,000 |
Age, too, is a factor in the amount households plan to spend for formal dining room. Households under 25 plan to spend a median of $400, and those between the ages of 25 and 34 plan to spend a median of $800. After age 35, the median plan-to-spend hovers at $1,000.
Lifestage groups that are the most likely shoppers for dining room this year are young parents, young couples and young singles — all in the process of settling into their first homes. Retailers should be aware of missed opportunities within young parents and young couples shopping for formal dining this year. Almost two-fifths of the households who shopped for formal dining last year, but ended up taking casual dining home, were young parents and young couples.
| Percent of households that... |
| Shopped for dining room in 2002 |
4.3%
|
| Bought dining room in 2002 |
2.2%
|
| Plan to buy dining room in 2003 |
2.8%
|
|
Income
|
% of the 2.2% of households that bought in 2002
|
% of the 2.8% of households that plan to buy in 2003
|
|
dining room furniture
|
| Under $20,000 |
13% |
17% |
| $20,000–$29,999 |
9% |
11% |
| $30,000–$39,999 |
7% |
9% |
| $40,000–$49,999 |
8% |
11% |
| $50,000–$59,999 |
8% |
9% |
| $60,000–$74,999 |
13% |
12% |
| $75,000–$84,999 |
7% |
7% |
| $85,000–$99,999 |
11% |
8% |
| $100,000–$124,999 |
13% |
9% |
| $125,000–or more |
11% |
7% |
|
Age
|
%of the 2.2% of households that in 2002 bought
|
% of the 2.8% of households that in 2003 plan to buy
|
|
dining room
|
| Under 25 |
5% |
5% |
| 25 – 34 |
21% |
25% |
| 35 – 44 |
23% |
27% |
| 45 – 54 |
25% |
21% |
| 55 – 64 |
14% |
14% |
| 65 and over |
12% |
8% |
|
Lifestage
|
% of the 2.2% of households that in 2002 bought
|
% of the 2.8% of households that in 2003 plan to buy
|
|
dining room
|
| Young singles |
5% |
5% |
| Middle singles |
10% |
12% |
| Older singles |
3% |
2% |
| Young couples |
12% |
13% |
| Working older couples |
15% |
11% |
| Retired older couples |
8% |
6% |
| Young parents |
16% |
22% |
| Middle parents |
11% |
12% |
| Older parents |
18% |
15% |
| Roommates |
2% |
2% |
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