Setting up households is driving Millennial purchasing today, according to Wayfair’s At Home study, which makes that demographic a prime consideration for home goods retailers and vendors across the board.
In the study of Wayfair shoppers ages 18 and older, seasonal purchasing does have an influence on Millennials, motivating about 65% of 18 to 34 year olds to make home furnishings purchases. However, 35 to 50 year olds and consumers 51 years old or older are relatively close behind, with about 55% and 30% respectively, of purchases driven by seasonal motivations.
In contrast, marriage or moving in with a partner or spouse motivates about 23% of the purchases made by the youngest demographic group identified in the study but only about 7% of the middle and 5% of the older age groups. Purchase of a new home drives just over 60% of furnishings purchases by 18 to 34 year olds but only 40% of those by 35 to 50 year olds and 30% of those 51 years old or older.
In terms of home furnishings style, younger consumers are the ones most likely to favor mid-century modern designs, Scandinavian looks and metal accents, all of which have been trending consistently in the mass market furnishings channel. The 51-plus age group is big on stone, Americana and Pantone colors and ties with 35 to 50 year olds in preference for reclaimed looks.