Curios
By Furniture Today Staff -- Furniture Today, February 24, 2003
Curios have the potential to top $1.5 billion in sales this year if all of the households shopping for a curio make a purchase and spend what they planned. It will be a challenge. Last year, 3.8% of households shopped for a curio, but only 1.8% actually made a purchase. That translates to a whopping 53% drop-out rate.
Who are the most likely buyers? Parents, especially young and middle parents, plan to purchase at rates that exceed their presence in the population. When young and middle parents are grouped together with older parents, they account for 50% of this year's planned curio purchases. Not surprisingly, young and middle parents have lower household incomes than older parents. Two-fifths of the young and middle parents planning to purchase a curio have incomes of under $40,000. On the other hand, two-fifths of older parents have incomes of $75,000 or more.
About half of young and middle parents have budgeted between $100 and $299 for this year's curio purchase. Older parents, with their higher incomes, plan to spend more. One-third has budgeted in the $100 to $299 range and another third plans to spend in the $300 to $599 range.
Young singles and young couples, while fewer in number, also have high curio buying plans. Their leaner budgets put their median planned spending at $200. Households living in apartments also find curios an attractive option — they represent 13% of households planning to make a curio purchase and have again budgeted a median of $200. One-fifth of the young singles with curios on their shopping lists live in apartments, while 16% of young couples do.
Curios are also high on the buying lists of African-American and Hispan-ic households. These two groups account for 15% of those planning to purchase a curio this year. Each group has budgeted a median of $200 for their curio, slightly below the national median of $250.
The most popular curio price points for 2003 will be in the $100 to $299 range, according to spending plans outlined by consumers. More than two-fifths indicate their curio purchases will fall within those parameters. Nearly a third plan to spend a bit more — between $300 and $599. At opposite ends of the price spectrum, only 9% plan to spend under $100, and only 9% plan to spend $1,000 or more.
| Percent of households that... | |
|---|---|
| Shopped for a curio in 2002 | 3.8% |
| Bought a curio in 2002 | 1.8% |
| Plan to buy a curio in 2003 | 2.5% |
| How much? | % of the 1.8% of households that spent in 2002 | % of the 2.5% of households that plan to spend in 2003 |
| for a curio | ||
| Under $50 | 11% | 4% |
| $50–$99 | 11% | 6% |
| $100–$199 | 18% | 20% |
| $200–$299 | 15% | 23% |
| $300–$399 | 13% | 15% |
| $400–$599 | 12% | 16% |
| $600–$999 | 12% | 7% |
| $1,000–$1,999 | 7% | 7% |
| $2,000 or more | 1% | 2% |
| Age | % of the 1.8% of households that in 2002 bought | % of the 2.5% of households that in 2003 plan to buy |
| a curio | ||
| Under 25 | 2% | 4% |
| 25 – 34 | 14% | 20% |
| 35 – 44 | 23% | 26% |
| 45 – 54 | 30% | 25% |
| 55 – 64 | 17% | 16% |
| 65 and over | 14% | 9% |
| Lifestage | % of the 1.8% of households that in 2002 bought | % of the 2.5% of households that in 2003 plan to buy |
| a curio | ||
| Young singles | 3% | 4% |
| Middle singles | 10% | 12% |
| Older singles | 3% | 4% |
| Young couples | 8% | 11% |
| Working older couples | 19% | 12% |
| Retired older couples | 9% | 6% |
| Young parents | 10% | 16% |
| Middle parents | 12% | 15% |
| Older parents | 25% | 19% |
| Roommates | 1% | 1% |
