In 2012, 32% of U.S. households — more than 36 million — bought furniture and bedding products, spending a combined $84.2 billion. This year, more than 52 million — a massive 46% of all households — have plans to buy furniture and bedding products, according to Furniture Today's "2013 Consumer Buying Trends Survey."
Bedding was the most frequently bought category in 2012, purchased by 12.7% of all U.S. households. Those 14.6 million buying households spent a combined $12.2 billion at retail in 2012.
Stationary sofas were the second popular product in 2012, purchased by 6.2% of U.S. households. Fabric-covered sofas accounted for 73% of all purchases, while leather comprised 27%. Overall, buyers spent a median of $699 on a fabric sofa and a median of $799 on a leather one. Retail sales of stationary sofas totaled $12.7 billion in 2012.
Reclining chairs, bought by 5.3% of U.S. households, were the third-most purchased furniture product. The category's popularity has skyrocketed since 2010, the last time Furniture Today conducted the study. Two years ago, only 3.2% of households bought a recliner. Older consumers, with more disposable income, fueled the purchases as six out of 10 buyers were 55 or older.
Seven out of 10 recliner buys in 2012 were covered in fabric and 30% were in leather. Buyers spent a median of $499 on a fabric recliner in 2012 and a median of $499 on a leather one.
Bedding, stationary sofas and recliners are poised to be the most-bought again this year if consumers follow through with their buying plans. For 2013, 14.5% of U.S. households plan to buy a new mattress and boxspring; 7.5% have plans to buy a stationary sofa; and 6.9% of U.S. households say they'll buy a new recliner.
According to the data, Generation X (ages 33 to 48) and those living in the South will be the key buyers of bedding this year. Each group plans to buy a mattress/boxspring at a rate of 1.2 times higher than their portion of the population.
With stationary sofas, Millennials (adults ages 18 to 32) and households with incomes of $150,000 or more will be the leading buyers. Both demographic groups plans to buy at rates 1.3 times greater than their presence in the population.
Southerners plans to buy a recliner this year at a rate 1.3 times higher than their presence in the population. Seniors (ages 68 and older) will be big buyers this year, planning to do so at a rate 1.2 times greater than their population presence.
To learn more about likely furniture buyers, check out the Audience Interests & Intent report available on the Research Store at ad-ology.com.[Source: "2013 Consumer Buying Trends Survey." Furniture Today. 20 Apr. 2013. Web. 3 May 2013.]