Consumer Chase
By Furniture Today Staff -- Furniture Today, December 31, 2001
Younger baby boomers
Born between 1956 and 1964
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A bit more established households than Gen X and Y, younger baby boomers are dealing with growing families and growing earning potential, making them an ideal focus for furniture retailers.
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More than a third of these households fall into the middle parent life stage, with their youngest child over the age of 6.
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More than three-fourths of the younger baby boomers live in a house, and nearly the same number own or are buying their homes.
Older baby boomers
Born between 1946 and 1955
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With kids nearly independent, these households find themselves with a new freedom for discretionary income and are ready to indulge their home furnishings tastes.
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Nearly half, 46%, of these households fall in the older parent life stage, while 47% are divided between the middle singles and working older couples life stages.
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More than the previous three life stages, 80% of the older baby boomer households live in a house, and 81% own or are buying their homes.
Empty nesters
Born between 1936 and 1945
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Ready to enjoy grandchildren and their own independence, this group may be furnishings vacation homes as well as re-doing their primary residences.
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Income levels for this group are the most evenly divided of any of these six demographic groups with the highest proportions in the under $20,000 level (22%) and the $50,000 to $74,999 level (19%).
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Nearly 60% of these households fall into two life stage groups: middle singles and working older couples.
Retirees
Born in 1935 or earlier
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Although less likely to buy a bedroom or living room suite, this group is interested in lamps, decorative accessories and furnishings that fit a specific need.
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Nearly half of these households live alone — 45% fall in the older singles life stage group.
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While mattresses led the plan-to-spend list for this group just like all the others, the rate of spending dropped dramatically, from 17.4% of the Generation Y households to 5.4% of the retirees.
Graphics by Furniture/Today
