High-income households spend more
By Furniture Today Staff -- Furniture Today, January 28, 2007
High Point — High-income households, those earning $75,000 or more, accounted for more than half of the $84.62 billion spent on furniture and bedding in 2006.
Regardless of income, bedding was purchased by a larger percentage of U.S. households than any other product category. The star of 2006, though, was entertainment furniture. Furniture designed to house TVs, DVD players, CD players and the like was the No. 2 or 3 purchase for nearly every income group. The lone exception was at the highest income brackets — households earning $100,000 or more.
In general, the median amount households spent rose with income level. For example, households earning less than $30,000 spent a median of $100 on entertainment furniture, while households in the $30,000 to $49,999 income group spent a median of $160 and households earning $75,000 to $99,999 spent a median of $200.
The following information lists the top three products purchased by income level, along with the median amount households spent and the leading channels where households bought.
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