There are a large variety of types of stores selling furniture these days, but when it comes to bedding, how old you are probably determines where you shop. A recent study in Furniture Today revealed which generations purchase bedding at different types of stores. Overall, Millennials and Generation X each have a 35% share of the market, while Baby Boomers have a 26% share, and Seniors a 4% share.
Bedding specialty stores get a large variety of customers, but they also tend to have the highest prices with the price of their average queen set costing $699. As a result Generation X makes up their largest share of customers at 37%, followed by Baby Boomers at 34%, Millennials at 23%, and Seniors at 6%.
Traditional furniture stores also seem to receive a fairly evenly distributed clientele. While not as expensive as bedding specialists, their prices are still up there with the average queen set costing $599. Millennials make up their largest share at 36%, followed by Baby Boomers at 33%, Generation X at 30%, and Seniors at 1%.
Beyond these two types of stores, things get a little more lopsided. There are the manufacturer branded furniture stores whose average queen set costs $599, department stores where the average queen set costs $499, warehouse membership clubs have the average queen set at $479, online retailers where the average queen set is $325, discount department stores where the average queen set is $275, and finally lifestyle furniture stores where the average queen set will only set you back $155.
It should come as no surprise that Millennials prefer to shop at the cheaper places. They hold a 58% share of sales at lifestyle furniture stores such as IKEA, a 43% share at discount department stores such as Walmart, and a 59% share at online retailers such as Amazon. But what may surprise you is that they also hold a 53% share at the pricier manufacturer branded furniture stores such as Ashley Home Stores.
Generation X prefers to shop at department stores such as Macy's where they hold a 55% share of the business. They also hold a 43% share at warehouse membership clubs such as Costco, a 40% share at discount department stores, and a 31% share at manufacturer branded furniture stores.
Baby Boomers do most of their shopping at the bedding specialty store and traditional furniture stores. Warehouse membership clubs are next, but only 21% of their business comes from Baby Boomers.
For Seniors who only hold a 4% share of the overall market, they take a large 14% share of business at warehouse membership clubs. They also hold a 7% share of the business at department stores.
If you are targeting your mattresses towards a certain demographic, make sure you are selling to the stores they shop at. If you need help selling to those stores, give DSA Factors a call today at 773-248-9000 and with our accounts receivable factoring you can get paid today for your net 30 day invoices.