Who’s most likely to spend $5,000 or more on a mattress: Baby Boomers, GenX or Millennials? Spend the most on a recliner? Which of the three is most likely to “greatly increase” their spending on furniture in the next six months or has seen their income rise the most since the pandemic?
These are just some of the questions that attendees at Furniture Today’s Leadership Conference will get answered in just over three weeks from now. An exclusive research study conducted by Furniture Today’s Strategic Insights team and sponsored by Genesis will offer the first comprehensive look at how consumer purchase attitudes and behaviors have shifted since the pandemic hit.
The study will look not only at the anticipated performance of key furniture categories, identifying which living room, home office, bedroom and outdoor furniture purchases are most likely in the next six months, it also will explore how the pandemic has changed consumer spending priorities.
It’s no surprise, for example, that demand for furniture and home furnishings is up dramatically in recent months. But while the prevailing wisdom is that decreases in travel and leisure have driven that shift — to some extent that’s true — another segment of consumer spending has seen even bigger declines. And the impact of that could drive extended interest in furniture for an even longer period.
It’s also become common to ascribe increased interest in home furnishings to consumers’ extended confinement during the pandemic and the dissatisfaction it’s caused within the home. But which room is drawing most of their ire, and is that translating to intended purchases or are there other rooms that feel more in need of replacement or refresh? You’ll have to attend to find out.
We all know that whatever the current level of “lockdown,” most consumers have adapted their lifestyles to encompass less socialization and the absence of high-density entertainment and sports venues, but how has that impacted their activities of daily life? And how is that impacting their potential furniture purchases?
This omnibus consumer study, one of the largest and most comprehensive ever conducted by Furniture Today, will offer insights into significant changes taking place within American homes. This includes cooking and dining changes, home entertainment and family gathering routines, and the impact of working and schooling at home.
It will also look at the growing role of the Internet in consumers’ purchase journey. It’s no surprise for example, that the Internet has taken on increased importance, but is that really the place consumers plan to close the deal? And where are the places stores still win when it comes to attracting and closing consumer furniture sales?
All this and more will be revealed during the Furniture Today Leadership Conference, Dec. 1-3, available right from the quiet and safety of your home or office, or home office. Speaking of which, if you attend you’ll find out the shockingly high percentage of consumers that want a certain home office item. Tune in to find out what it is.