Quality and Durability Most Important When Purchasing Home Furnishings
More than nine in ten consumers state that quality and durability are important when purchasing a sofa or any other home furnishings. On average consumers expect to keep a new sofa for ten years. Mattresses are almost kept as long with the average consumer expecting it to last nine or ten years. However, area rugs have shorter lifespans, usually getting replaced after seven years.
Upholstery and Bedding
Virtually non one buying a sofa or mattress expects to replace it in less than two years, and less than 10% of consumers plan to replace it in less than five years. After five years however, home furnishings start to get replaced. A little over a third of consumers will replace a sofa within five to nine years, while nearly half of consumers will replace a mattress within that same period. A quarter of consumers will keep a couch for ten to fourteen years, and a third of consumers will keep a mattress for that length of time. Another quarter of consumers will keep a couch for over fifteen years, but less than a sixth of consumers will keep a mattress for that long.
Area Rugs and Wall Decor
When it comes to accessories, things don't last nearly as long. Seven percent of consumers will replace an area rug within two years of purchasing it. A quarter of consumers will keep their area rugs for two to four years. Over a third of consumers keep their rugs for five to nine years. However, only a sixth of consumers will keep a rug for ten to fourteen years, and another sixth will keep it more than fifteen years.
When it comes to wall decor, it either gets replaced quickly or held onto for a long time. Six percent of consumers will replace their wall decor within the first two years. A quarter of consumers will be taking their art of the wall within two to four years, and another quarter will be taking it off the wall within five to nine years. However, only a tenth of consumers will be replacing their wall decor between ten and fourteen years after hanging it up. Over a third of consumers will keep their art on the wall for over fifteen years.
Who Keeps Their Furniture the Longest?
It probably will come as no surprise, but Baby Boomers expect their furniture to last longer than any other generation, regardless of what type of furniture they are buying. Income levels also play a significant role in how long consumers will keep their furniture. Those with income levels of $100,000 or more will keep their sofas and wall decor the longest. Families making between $50,000 and $100,000 will hold onto their mattresses the longest. While families with income levels below $50,000 will keep their area rugs the longest.
What Does This Mean for the Furniture Industry?
Obviously everyone wants to purchase high quality furniture for their home, but affordability also plays a crucial role when picking out new furniture. As quality increases so does price, making it a difficult balancing act for any furniture manufacturer. However, knowing who you are selling to and how long they expect to keep your furniture can help you build to design quality furniture at affordable price points for your customers.
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