Meet the Millennials: 80 million Americans born between 1982 and 1996 who are now upending the way we do just about everything. Though often misunderstood by prior generations and the press, Millennials are proving impossible to ignore for furniture retailers and manufacturers — and with good reason.
Did you know?
- Millennials spend $600 billion annually, which is 28% of all daily per-person consumer spending.
- Millennial spending is forecast to grow to 35% of spending by 2030.
- Millennials were the largest group of home buyers (34 percent) for the fourth consecutive year, according to NAR’s 2017 Home Buyer and Seller Generational Trends study.
- By comparison, baby boomers were 30 percent of buyers.
- HFN’s annual Millennial Total Home survey found that roughly 63 percent of Millennials’ indoor home furnishings were purchased from a brick-and-mortar store.
- 70 percent of Millennials are comfortable with retailers tracking their purchasing and browsing behaviors if it means they’ll receive more relevant communications.
That’s just the beginning. There’s much to learn about America’s latest transformational generation.
Join Deborah Weinswig, Founder and CEO of Coresight Research, and Beck Besecker, CEO and Co-Founder of Marxent, for an exclusive webinar that will blend market research with new perspectives on what the future holds for furniture. “The Future of Furniture Shopping: How Millennials Want To Shop for Home Furnishings, Why It Matters and What to Do About It” will explore millennial furniture shopping trends and give attendees actionable insights on how to captivate this increasingly powerful segment of shoppers.
The webinar is now complete, but you can check out an archived version of presentation here.
Joe Bardi is Marxent’s tech-obsessed former Communications Director.
