Research Says

By the numbers: Gen Y

March 19, 2010

Gen Y demographics

  • Born between 1976 and 1994
  • Between the ages of 16 and 34 in 2010
  • Total 76 million
  • Account for 26% of the adult population
  • Race/ethnicity of Gen Y members ages 18 to 29:
    61% White
    19% Hispanic
    14% Black
    5% Asian
    1% Other

Furniture buying and Gen Y

  • 61% plan to buy new furniture in 2010
  • 45% are redecorating in 2010 to furnish a new home; 41% are replacing worn furniture; 32% are changing styles
  • 96% say competitive prices are important when choosing where to shop for furniture; 92% say a retailer’s product selection is important
  • 57% look for furniture product information on retailer websites; 47% look on furniture manufacturer websites; 39% use an online search engine; 39% look in magazines
  • Gen Y and technology

    • Comprise 30% of the adult Internet-using population
    • 86% of Gen Y Internet users learned of a new product for the first time online
    • 83% sleep with a cell phone on or next to their bed
    • 75% have a profile on a social networking site

    Other Gen Y buying characteristics

    • Spent an average of $61/day in 2009, down 33.7% from an average of $92/day in 2008 - spending excludes normal household bills and major purchases such as homes and cars
    • 52% buy eco-friendly products

    Many sources were used to compile this blog. They include Furniture/Today and HGTV’s 2010 Consumer Views Survey, the U.S. Census Bureau, eMarketer, The Pew Internet & American Life Project, Gallup Poll, the Pew Research Center and Deloitte’s State of the Media Democracy Fourth Edition.