Consumer Buying Trends 2005
About the survey
By Furniture Today Staff -- Furniture Today, January 28, 2005
| Click to see the Consumer Survey presentation (The presentation is in Power Point form. Please allow a few minutes for the download.) |
This exclusive consumer data originates from the responses of 2,500 households to a survey conducted in January 2005. Furniture/Today had National Family Opinion poll 7,500 U.S. households using an online survey to examine home furnishings shopping and purchasing patterns in 2004 and buying plans for 2005, as well as how much they spent and plan to spend for each product category.
Because of the sample size and a respondent profile closely matching the demographics of all U.S. households, survey data can be projected nationally with a margin of error of plus or minus less than 2%.
The research was analyzed by Furniture/Today’s research department, led by Senior Research Specialist Dana French and Director of Market Research Kay Anderson. For the respondent profile and expanded product information, go to www.furnituretoday.com.
Terms
* Age: Of survey respondent
* Consumer targets: Demographic groups that have a high plan-to-buy index. That is, these groups plan to purchase the product at a rate higher than their presence in the population. They frequently are not the largest demographic group purchasing a product, but represent opportunity in a demographic segment that may otherwise be overlooked.
* Households: All those living together in one housing unit, including family members or unrelated individuals.
* Household income: Combined income of all household members.
* Median: Divides the responses into two equal portions, half above and half below the median amount.
* Plan-to-buy index: A plan-to-buy index of 100 indicates that a demographic group is planning to buy a product in the same proportion as their presence in the population. Any number over 100 indicates that the group will be buying a product at a rate higher than their presence in the population. For example, a plan to buy index of 255 for a group indicates that they plan to buy at a rate 2.55 times higher than their presence in the population.
| See additional Consumer Buying Trend info, with details on "generational" buying. (The presentation is in Power Point form. Please allow a few minutes for the download.) |
* Sales potential: The sales potential in 2005 calculated for each product category assumes all households planning to buy actually make a purchase and spend the maximum amount planned. Actual sales figures for each product category in 2005 may be higher or lower.
Generations
* Generation Y: Born between 1976 and 1985
* Generation X: Born between 1965 and 1975
* Younger Baby Boomer: Born between 1956 and 1964
* Older Baby Boomer: Born between 1946 and 1955
* Happy Days Generation: Born between 1936 and 1945
* Senior Senior: Born in 1935 or before
Census regions
* Northeast: Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont
* South: Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia and West Virginia
* Midwest: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin
* West: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming
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