by Price is a major deciding factor as is the need to replace furniture that is worn out
HIGH POINT — For Gen Z consumers, furniture, while a necessity, is not something that they consider to be a long-term investment — at least at this point in their lives.
In fact, many in this age group plan to replace what they buy in three to four years, which coincides with their plans to move out of their current apartment or home during the same period.
That’s a key takeaway in our second installment of this season’s Consumer Insights Now, sponsored by Bread Financial — Gen Z Buying Habits and Attitudes. The survey of 1,000 consumers ages 18-29 includes those who have purchased or plan to purchase home furnishings this year.
On average, these consumers purchased two items so far this year, spending $500 to $999, with the Top 10 items being sofas/sectionals (62%); primary bedroom (44%); occasional tables (40%); mattresses for the primary bedroom and area rugs (each 34%); lamps (32%); home entertainment (27%); recliners and dining furniture (each 24%); and office furniture (22%).
This was followed by children’s bedroom furniture (18%); guest bedroom and outdoor furniture (each 17%); mattresses for the children’s and guest bedroom (11% and 10% respectively); and lighting fixtures (8%).
A quarter of these shoppers spent $500 to $999 on furniture this year, and 24% spent $250 to $499. Another 20% spent between $1,000 and $1,999, and 10% spent $2,000 to $2,999. Eight percent spent more than $3,000, and 13% spent less than $250.
A majority of 42% were replacing furniture that was worn out, and 36% and 31% respectively were A) upgrading to more comfortable furniture or B) upgrading to higher-quality furniture. Some 26% were redecorating their current living space, while 24% had a new home to furnish, compared with 20% who had a new apartment to furnish. Six percent respectively had just gotten married and/or just had a baby. And 24% of those surveyed also responded to a sale or promotion/coupon.
Key factors in their decision to buy included comfort, followed by design/style, easy to clean and maintain, easy to assemble and longevity, with 36% wanting it to last five years and 24% wanting it to last 15 years or more. Twenty percent of those surveyed want fully assembled product, 17% want smaller-scale furniture and 16% and 14% respectively want furniture that is made through sustainable manufacturing or made with sustainable materials.
That said, the good news for retailers is that most in this age group have either purchased products or plan to buy products in a store. The chart below illustrates this by category, with about 72% saying they have purchased a sofa in-store, 71% saying they purchased a recliner in-store and 59% saying they bought bedroom furniture in a physical store location.
Like most consumers, a majority — 68% — did research before making a purchase compared with 32% who purchased on impulse, with 42% doing a search online and 32% looking at online reviews. Nearly 30% talked with family and/or friends before making a purchase. Twenty-eight percent shopped in a physical store, 22% shopped store websites and 19% used AI to assist in their search.
Nearly 90% want furniture that can be mixed and matched with what they already have, and 76% prioritize function over style. That said, some 65% said they want to keep up to date with current home décor styles, with modern/eclectic styles being among the most popular based on comments consumers provided about their décor preferences.
Thus, our survey results offer a window into the expectation and habits of these younger consumers. How the market responds likely will have a major impact on those consumers’ attitudes toward furniture shopping now and in the future. Is your store prepared to meet their expectations?
Below is our publication schedule for this season’s Consumer Insights Now:
+ Sept. 14 – Gen Z Overview
+ Sept. 21 – Generation Z Buying Habits and Attitudes
+ Sept. 28 – Generation Z Furniture Shopping
+ Oct. 5 – Gen Z Furniture Buying Part 1 (Focusing on the appeal of Amazon and trading up to better quality furniture)
+ Oct. 12 – Gen Z Furniture Buying Part 2 (Focusing on known furniture brands, financing options and working with designers)
