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With millennials accounting for 31 percent of home buyers in 2014, the demographic has accounted for the largest increase in furniture and bedding sales over the last two years, according to a new report from the National Retail Federation.

Citing Furniture Today’s “Consumer Buying Trends Survey,” NRF reports that millennials’ furniture spending increased 142 percent (to $27 billion) from 2012 to 2014, while baby boomers spent $3 billion, 17 percent less, during the same time period. Generation X shoppers’ furniture budgets also rose significantly. This demographic increased its spending on furnishings by 42.7 percent to $31.8 billion

The NRF report says furnishings retailers will steer millennials to their brands by focusing on social media channels, such as Pinterest, keeping in mind the generation’s “less is more” mindset.



MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design

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