Millennials use living room as command central
May 2, 2013-- Furniture Today,
Furniture/Today surveyed Millennials through an exclusive partnership with New York-based Apartment Therapy, a leading online home decorating source. All told, Millennials were born between 1981 and 2000, with members currently between the ages of 13 and 32. Data within this presentation is for adult members only, ages 18 to 32. Census data pegs adult Millennials as 65 million strong.
One-third of the Millennials surveyed live in a house, with more than half in an apartment and 11% in a condo. Six out of ten are married or living with a partner and four out of 10 are single. Only 10% have children. Four out of ten have incomes less than $50,000; 40% between $50,000 and $99,999; and 20% have incomes of $100,000 or more. Three-fourths are working full-time.
According to Furniture/Today's 2013 Consumer Buying Trends Survey, two-fifths of all Millennials made furniture or bedding purchases in 2012, as furniture needs for new homes and children fueled the buys. Last year, Millennials comprised 14% of all furniture and bedding buyers and 12% of the total dollars spent.
This year, 12.9% of all Millennial households plan to buy a mattress; 10.3% plan to purchase master bedroom furniture; 9.6% plan to buy a stationary sofa; and 8.3% plan to purchase youth furniture.