To drive value, manufacturers introduced new categories like outdoor lighting and art , noting that new accessories often became immediate best-sellers. Retail & Manufacturing Shifts Affluent Consumers Are High on Quality Product
Sales by volume for upholstered furniture grew 4% year-on-year , largely driven by a 44% surge in demand for corner sofas. furniture buying trends 2013
High-income households accounted for 29% of total retail dollars spent ($24.4 billion), typically spending twice as much on items like master bedroom furniture and bedding than non-affluent buyers. To drive value, manufacturers introduced new categories like
In 2013, the furniture industry experienced its fourth consecutive year of growth, driven by a recovering housing market and a shift toward value-oriented and functional designs. Total consumer spending on furniture and bedding was projected to reach approximately , a 4.3% increase from the previous year. Key Consumer Segments & Behavior In 2013, the furniture industry experienced its fourth
There was a rising demand for "problem-solving" furniture, such as modular sofas , storage beds, and multifunctional pieces that maximized space.
Retailers like Art Van Furniture saw growth by targeting mid-to-upper-middle-income shoppers ready to spend discretionary dollars on "step-up" luxury goods.