Table of Contents
Executive Summary
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- Overview
- The market
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- Figure 1: Total US sales and fan chart forecast of furniture, at current prices, 2009-19
- Market drivers
- The consumer
- Bedroom and living room furniture most likely to be replaced within the last two years
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- Figure 2: Furniture purchases within the last 2 years, by type, April 2014
- Half of all consumers buy furniture to replace broken or worn-out pieces
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- Figure 3: Reasons for purchasing furniture, April 2014
- Consumers seek durability and traditional furniture that will last a long time
- In-store displays, retailer catalogs and websites, and the homes of friends and family are the most significant factors that can motivate a furniture purchase
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- Figure 5: Using this has led to a furniture purchase, April 2014
- Consumers’ expectations from furniture retailers highly practical: most do not expect special treatment
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- Figure 6: Important factors when choosing furniture retailers, April 2014
- Asian and Hispanic consumers are more likely to purchase all types of furniture, while Black consumers spend more on furniture
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- Figure 7: Amount spent on furniture, by race/Hispanic origin, November 2012-December 2013
- What we think
Issues and Insights
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- Furniture marketing efforts focus on sales, but are consumers motivated by them?
- The issues
- The implications
- How can retailers encourage consumers to buy more furniture?
- The issues
- The implications
- Have consumers embraced buying furniture online?
- The issues
- The implications
Trend Applications
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- Trend: Return to the Experts
- Trend: Sense of the Intense
- Trend: Never Say Die
Market Size and Forecast
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- Key points
- A recovering furniture market, poised for continued growth
- Sales and forecast of market
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- Figure 8: Total US retail sales and forecast of furniture, at current prices, 2009-19
- Figure 9: Total US Retail sales and forecast of furniture, at inflation-adjusted prices, 2009-19
- Fan chart forecast
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- Figure 10: Total US sales and fan chart forecast of furniture, at current prices, 2009-19
Retail Channels
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- Key points
- Core furniture retailers still dominate, but others grow faster
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- Figure 11: Total US retail sales of furniture, by channel, at current prices, 2009-14
- Furniture store channel continues to lead in share and grow fastest
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- Figure 12: Total US retail sales of furniture stores, by channel, at current prices, 2012 and 2014
Market Drivers
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- Key points
- Millennial population growth bodes well for furniture market
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- Figure 13: Population by age, 2009-19
- Hispanic population growth a highlight, tend to live in larger households
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- Figure 14: Hispanic population by age, 2009-19
- Growth in Asian, Black, and Hispanic households will benefit the furniture market
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- Figure 15: Population by race and Hispanic origin, 2009-19
- Declining unemployment not enough to boost consumer confidence
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- Figure 16: Consumer Sentiment Index and unemployment, 2000-13
- Wood costs continue to rise, eroding margins
- Shifts in home ownership, sales, average home size, and housing starts
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- Figure 17: Seasonally adjusted homeownerships rates for the US, Q1 2000-14
- Home sales trail far behind their pre-recession levels
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- Figure 18: Houses sold, Total US, 2000-13
- Average size of US homes continues to increase, making more space for more furniture
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- Figure 19: Median and Average Square Feet of Floor Area in New Single-Family Houses Completed, US 2000-13
- New home starts continue to increase, paving the way for more furniture purchases
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- Figure 20: New Privately Owned Housing Units Authorized, but Not Started, at End of Period
- Green consumers growth in share may influence furniture purchases
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- Figure 21: Change in share of green consumer population, 2007-14
Retailer Overview
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- Furniture Specialists
- Aaron’s
- Ashley Furniture HomeStore
- Cost Plus World Market
- Crate & Barrel
- Ethan Allen
- Haverty’s
- IKEA
- La-Z-Boy
- Pier 1 Imports
- Restoration Hardware
- Rooms to Go
- Thomasville
- Value City Furniture
- Wayfair and Joss & Main
- Williams-Sonoma Inc (Williams-Sonoma, Williams-Sonoma Home, Pottery Barn, Pottery Barn Kids, PB Teen, West Elm, Mark and Graham, and Rejuvenation)
- Z Gallerie
Innovations and Innovators
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- Pottery Barn photos (to) art and party planning
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- Figure 22: Pottery Barn partnership with art.com, June 2014
- Figure 23: Pottery Barn design services, June 2014
- Promoting sustainability efforts at Crate & Barrel and IKEA
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- Figure 24: Crate & Barrel’s sustainability efforts, June 2014
- HGTV Design Exclusives with Bassett Furniture
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- Figure 25: HGTV collection at Bassett furniture, June 2014
- West Elm goes local
Marketing Strategies
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- Overview of the brand landscape
- Promoting limited-time sales is the primary use of TV and other mass media ad vehicles
- Macy’s sets the standard for price-focused TV spots
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- Figure 26: Macy’s, TV ad, month 2013
- Ethan Allen Memorial Day sale promotion
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- Figure 27: Ethan Allen, TV ad, May 2014
- Thomasville promotes American Heritage line for July 4th
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- Figure 28: Thomasville, TV ad, month 2013
- Ashley Furniture HomeStore Memorial Day Sale and “Selling Credit”
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- Figure 29: Ashley home furniture, TV ad, May 2014
- Visually oriented social media: transforming views to buys
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- Figure 30: Crate & Barrel Pinterest page, June 2014
- Figure 31: Value City Furniture Pinterest page, June 2014
- Houzz
- Being “on trend”
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- Figure 32: Thomasville Furniture color of the year design inspiration page, June 2014
- Celebrity endorsers, celebrity designers, and brand-endorsed “themes”
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- Figure 33: Martha Stewart at Macy’s Bedding Collection Home Page, June 2014
- Figure 34: Crate & Barrel, TV ad, 2013
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- Figure 35: Thomasville Lantau TV ad, 2013
- “On Demand” furniture and affordability
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- Figure 36: Ethan Allen, TV ad, March 2014
- Figure 37: Value City TV ad, February 2014
- Crate & Barrel pursues cause marketing
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- Figure 38: Crate & Barrel Cause marketing, July 2014
- App and mobile strategies
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- Figure 39: Value City Furniture mobile app, July 2014
- Shopping for fit: Haverty’s, Pottery Barn, and Thomasville offer virtual room planners with measurements
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- Figure 40: Icovia-powered room planner from Thomasville furniture, June 2014
- Shopping by looks
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- Figure 41: Ethan Allen mobile site, July 2014
- Figure 42: Crate & Barrel mobile site, July 2014
- IKEA’s partial embrace of user-generated content
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- Figure 43: To IKEA with love YouTube UGC Contest, 2014
Social Media
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- Key points
- Market overview
- Key social media metrics
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- Figure 44: Key performance indicators, selected furniture retailers, June 16, 2013-June 15, 2014
- Brand usage and awareness
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- Figure 45: Brand usage and awareness of furniture retailers, April 2014
- Interaction with brands
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- Figure 46: Interaction with furniture retailers, April 2014
- Leading Online Campaigns
- Digital flea market
- Branded content
- Pinterest marketing campaigns
- What we think
- Online conversations
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- Figure 47: Online mentions, selected furniture retailers, June 16, 2013-June 15, 2014
- Where are people talking about furniture retailers?
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- Figure 48: Mentions by page type, selected furniture retailers, June 16, 2013-June 15, 2014
- What are people talking about online?
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- Figure 49: Mentions by topic of conversation, selected furniture retailers, June 16, 2013-June 15, 2014
Furniture Purchases
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- Key points
- A majority of consumers have purchased furniture in the last two years
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- Figure 50: Furniture purchases, April 2014
- Younger consumers more likely to purchase furniture
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- Figure 51: Furniture purchases in past 2 years, by gender and age, April 2014
- Across income levels, most consumers have purchased some furniture within the last two years
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- Figure 52: Furniture purchases in past 2 years, by household income, April 2014
- Larger households buy more furniture
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- Figure 53: Furniture purchases in past 2 years, by household size, April 2014
- Households with children more likely to purchase all types of furniture
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- Figure 54: Furniture purchases in past 2 years, by presence of children in household, April 2014
- Aside from patio furniture, owners and renters have similar purchase patterns
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- Figure 55: Furniture purchases in past 2 years, by residence, April 2014
What Consumers Purchase and How Much They Spend
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- Key points
- Bedding and décor items are the most commonly purchased items
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- Figure 56: Household furnishings, by gender, November 2012-December 2013
- Younger respondents purchase more of all types of furniture as they establish homes
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- Figure 57: Household furnishings, by age, November 2012-December 2013
- Larger households tend to buy a wider variety of furniture
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- Figure 58: Household furnishings, by household size, November 2012-December 2013
- Largest proportion spend $1,000 or more on furniture
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- Figure 59: Amount spent on furniture, by gender, November 2012-December 2013
- Consumers aged 25-44 spend the most on furniture
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- Figure 60: Amount spent on furniture, by age, November 2012-December 2013
- Nearly half of $100K+ consumers spent $1,000 or more on furniture in the last year
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- Figure 61: Amount spent on furniture, by household income, November 2012-December 2013
Reasons for Purchasing Furniture
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- Key points
- Half of all consumers buy furniture to replace old or worn-out items
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- Figure 62: Reasons for purchasing furniture, April 2014
- Older respondents replace worn-out furniture, younger respondents buy for style or to outfit new homes
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- Figure 63: Reasons for purchasing furniture, by age, April 2014
- $100K+ consumers more willing to replace furniture to change styles
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- Figure 64: Reasons for purchasing furniture, by household income, April 2014
- More renters purchase due to moving into new homes, owners purchase after furniture wears out
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- Figure 65: Reasons for purchasing furniture, by residence, April 2014
- Types of furniture purchased for each reason
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- Figure 66: Types of furniture purchased in the past 2 years, part 1, April 2014
- Consumers wait until wear out to purchase kitchen, home office, and patio furniture
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- Figure 67: Types of furniture purchased in the past 2 years, part 2, April 2014
- Online versus offline shopping behavior and reasons for purchase
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- Figure 68: Reasons for purchasing furniture, by purchase nets, April 2014
Retailers Shopped for Furniture Purchases
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- Key points
- Furniture stores and mass merchandisers lead versus all other sales channels
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- Figure 69: Retailers shopped/browsed for furniture, April 2014
- Men shop across a wider variety of retailers for furniture compared to women
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- Figure 70: Retailers shopped for furniture (in-store or online), by gender, April 2014
- 18-34s shop at a wide variety of retailers, favor mass merchandisers
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- Figure 71: Retailers shopped for furniture (in-store or online), by age, April 2014
- Opportunity to sway middle-income ($75K-$149.9K) respondents
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- Figure 72: Retailers shopped for furniture (in-store or online), by household income, April 2014
- Largest households purchase from widest variety of retailers
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- Figure 73: Retailers shopped for furniture (in-store or online), by household size, April 2014
Attitudes toward Furniture
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- Key points
- Most consumers seek to buy “traditional” furniture that will last a long time
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- Figure 74: Attitudes toward furniture, April 2014
- 55+ women and men want quality furniture that will last, younger consumers less invested in the long term
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- Figure 75: Attitudes toward furniture, by gender and age, April 2014
- Middle income consumers seek durability and traditional style
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- Figure 76: Attitudes toward furniture, by household income, April 2014
- Larger households more prone to replace furniture, less concerned with traditional styles
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- Figure 77: Attitudes toward furniture, by household size, April 2014
Attitudes toward Online Furniture Shopping
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- Key points
- Most respondents are put off by online furniture shopping
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- Figure 78: Attitudes toward purchasing furniture online, April 2014
- A majority of respondents, across age groups, want to touch or see furniture before purchasing it
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- Figure 79: Attitudes toward purchasing furniture online, by age, April 2014
- Those with household incomes of $75K+ need more incentives to buy furniture online
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- Figure 80: Attitudes toward purchasing furniture online, by household income, April 2014
Ideas/Inspiration for Furniture
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- Key points
- In-store displays, retailer catalogs and websites, and the homes of friends and family are the most significant sources of inspiration
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- Figure 81: Ideas/inspiration for furniture, April 2014
- Younger respondents looking for more assistance with their purchase decisions
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- Figure 82: Ideas/inspiration for furniture, by age, April 2014
- Those with household income of $100K+ more able to purchase furniture, receptive to furniture promotion
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- Figure 83: Ideas/inspiration for furniture, by household income, April 2014
- Factors that motivate purchases: men need more help
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- Figure 84: Using this has led to a furniture purchase, by gender and age, April 2014
Important Factors When Choosing Furniture Retailers
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- Key points
- Consumers seek free shipping, variety, and convenience from furniture retailers
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- Figure 85: Important factors when choosing furniture retailers, April 2014
- Younger consumers more keen on interactive tools, online design assistance
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- Figure 86: Important factors when choosing furniture retailers, by gender and age, April 2014
- Highest-income consumers consider practical attributes most important when choosing a retailer
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- Figure 87: Important factors when choosing furniture retailers, by household income, April 2014
Race and Hispanic Origin
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- Key points
- Asian and Hispanic consumers are ardent furniture purchasers
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- Figure 88: Furniture purchases in past 2 years, by race/Hispanic origin, April 2014
- Asian and Black consumers likely to spend more on furniture
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- Figure 89: Amount spent on furniture, by race/Hispanic origin, November 2012-December 2013
- Black, Asian, and Hispanic consumers are less motivated by tradition and durability than White consumers
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- Figure 90: Reasons for purchasing furniture, by race/Hispanic origin, April 2014
- Black and Hispanic respondents favor discount furniture retailers
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- Figure 91: Retailers shopped/browsed for furniture, by race/Hispanic origin, April 2014
- Asian respondents among the most discerning furniture shoppers
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- Figure 92: Attitudes toward furniture, by race/Hispanic origin, April 2014
- Hispanic consumers averse to online shopping
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- Figure 93: Attitudes toward purchasing furniture online, by race/Hispanic origin, April 2014
- Hispanics likely to be influenced by in-store displays, items in others’ homes
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- Figure 94: Ideas/inspiration for furniture, by race/Hispanic origin, April 2014
- Hispanic and Black respondents more readily influenced to purchase furniture through new social media and online tools
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- Figure 95: Using this has led to a furniture purchase, by race/Hispanic origin, April 2014
- Hispanic consumers particularly concerned about furniture purchase logistics
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- Figure 96: Important factors when choosing furniture retailers, by race/Hispanic origin, April 2014
Appendix – Other Useful Consumer Tables
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- Furniture purchases
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- Figure 97: Furniture purchases in past 2 years, by marital/relationship status, April 2014
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- Figure 98: Furniture purchases in past 2 years, by employment, April 2014
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- Figure 99: Furniture purchases in past 2 years, by furniture retailers, April 2014
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- Figure 100: Household furnishings, by race/Hispanic origin, November 2012-December 2013
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- Figure 101: Household furnishings, by household income, November 2012-December 2013
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- Figure 102: Household furnishings, by presence of children in household, November 2012-December 2013
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- Figure 103: Household furnishings, by marital/relationship status, November 2012-December 2013
- Amount spent on furniture
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- Figure 104: Amount spent on furniture, by household size, November 2012-December 2013
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- Figure 105: Amount spent on furniture, by presence of children in household, November 2012-December 2013
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- Figure 106: Amount spent on furniture, by marital/relationship status, November 2012-December 2013
- Reasons for purchasing furniture
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- Figure 107: Reasons for purchasing furniture, by gender, April 2014
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- Figure 108: Reasons for purchasing furniture, by household size, April 2014
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- Figure 109: Reasons for purchasing furniture, by marital/relationship status, April 2014
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- Figure 110: Reasons for purchasing furniture, by employment, April 2014
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- Figure 111: Reasons for purchasing furniture, by furniture retailers, April 2014
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- Figure 112: Reasons for purchasing furniture, by presence of children in household, April 2014
- Retailers shopped for furniture
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- Figure 113: Retailers shopped for furniture (in-store or online), by presence of children in household, April 2014
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- Figure 114: Retailers shopped for furniture (in-store or online), by marital/relationship status, April 2014
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- Figure 115: Retailers shopped for furniture (in-store or online), by employment, April 2014
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- Figure 116: Retailers shopped for furniture (in-store or online), by residence, April 2014
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- Figure 117: Retailers shopped for furniture (in-store or online), by type of furniture purchased, part 1, April 2014
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- Figure 118: Retailers shopped for furniture (in-store or online), by type of furniture purchased, part 2, April 2014,
- Attitudes toward furniture
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- Figure 119: Attitudes toward furniture, by marital/relationship status, April 2014
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- Figure 120: Attitudes toward furniture, by presence of children in household, April 2014
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- Figure 121: Attitudes toward furniture, by employment, April 2014
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- Figure 122: Attitudes toward furniture, by residence, April 2014
- Attitudes toward online furniture shopping
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- Figure 123: Attitudes toward purchasing furniture online, by gender, April 2014
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- Figure 124: Attitudes toward purchasing furniture online, by marital/relationship status, April 2014
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- Figure 125: Attitudes toward purchasing furniture online, by presence of children in household, April 2014
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- Figure 126: Attitudes toward purchasing furniture online, by residence, April 2014
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- Figure 127: Attitudes toward purchasing furniture online, by household size, April 2014
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- Figure 128: Attitudes toward purchasing furniture online, by employment, April 2014
- Ideas/Inspiration for furniture
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- Figure 129: Ideas/inspiration for furniture, by gender, April 2014
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- Figure 130: Ideas/inspiration for furniture, by residence, April 2014
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- Figure 131: Ideas/inspiration for furniture, by marital/relationship status, April 2014
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- Figure 132: Ideas/inspiration for furniture, by presence of children in household, April 2014
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- Figure 133: Ideas/inspiration for furniture, by household size, April 2014
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- Figure 134: Using this has led to a furniture purchase, by household income, April 2014
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- Figure 135: Using this has led to a furniture purchase, by household size, April 2014
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- Figure 136: Using this has led to a furniture purchase, by marital/relationship status, April 2014
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- Figure 137: Using this has led to a furniture purchase, by presence of children in household, April 2014
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- Figure 138: Using this has led to a furniture purchase, by residence, April 2014
- Important factors when choosing furniture retailers
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- Figure 139: Important factors when choosing furniture retailers, by marital/relationship status, April 2014
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- Figure 140: Important factors when choosing furniture retailers, by household size, April 2014
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- Figure 141: Important factors when choosing furniture retailers, by presence of children in household, April 2014
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- Figure 142: Important factors when choosing furniture retailers, by residence, April 2014
Appendix – Social Media
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- Online conversations
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- Figure 143: Online mentions, selected furniture retailers, social universe mentions, June 16, 2013-June 15, 2014
- Figure 144: Online mentions, selected furniture retailers, Word Normalized, June 16, 2013-June 15, 2014
- Brand analysis
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- Figure 145: IKEA key social media indicators, June 2014
- Figure 146: Wayfair.com key social media indicators, June 2014
- Figure 147: Ashley Furniture HomeStore key social media indicators, June 2014
- Figure 148: Ethan Allen key social media indicators, June 2014
- Figure 149: Value City Furniture key social media indicators, June 2014
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- Figure 150: Thomasville key social media indicators, June 2014
- Brand usage or awareness
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- Figure 151: Brand usage or awareness, April 2014
- Figure 152: Thomasville usage or awareness, by demographics, April 2014
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- Figure 153: IKEA usage or awareness, by demographics, April 2014
- Figure 154: Ashley Furniture HomeStore usage or awareness, by demographics, April 2014
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- Figure 155: Value City Furniture usage or awareness, by demographics, April 2014
- Figure 156: Ethan Allen usage or awareness, by demographics, April 2014
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- Figure 157: Wayfair.com usage or awareness, by demographics, April 2014
- Activities done
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- Figure 158: Activities done, April 2014
- Figure 159: Thomasville – Activities done – I have looked up/talked about this brand online on social media, by demographics, April 2014
- Figure 160: Thomasville – Activities done – I have contacted/interacted with the brand online on social media to, by demographics, April 2014
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- Figure 161: Thomasville – Activities done – I have researched the brand on social media to, by demographics, April 2014
- Figure 162: IKEA – Activities done – I have looked up/talked about this brand online on social media, by demographics, April 2014
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- Figure 163: IKEA – Activities done – I have contacted/interacted with the brand online on social media to, by demographics, April 2014
- Figure 164: IKEA – Activities done – I follow/like the brand on social media because, by demographics, April 2014
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- Figure 165: IKEA – Activities done – I have researched the brand on social media to, by demographics, April 2014
- Figure 166: Ashley Furniture HomeStore – Activities done – I have looked up/talked about this brand online on social media, by demographics, April 2014
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- Figure 167: Ashley Furniture HomeStore – Activities done – I have contacted/interacted with the brand online on social media to, by demographics, April 2014
- Figure 168: Ashley Furniture HomeStore – Activities done – I follow/like the brand on social media because, by demographics, April 2014
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- Figure 169: Ashley Furniture HomeStore – Activities done – I have researched the brand on social media to, by demographics, April 2014
- Figure 170: Value City Furniture – Activities done – I have looked up/talked about this brand online on social media, by demographics, April 2014
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- Figure 171: Value City Furniture – Activities done – I have researched the brand on social media to, by demographics, April 2014
- Figure 172: Ethan Allen – Activities done – I have looked up/talked about this brand online on social media, by demographics, April 2014
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- Figure 173: Ethan Allen – Activities done – I have researched the brand on social media to, by demographics, April 2014
- Figure 174: Wayfair.com – Activities done – I have looked up/talked about this brand online on social media, by demographics, April 2014
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- Figure 175: Wayfair.com – Activities done – I have researched the brand on social media to, by demographics, April 2014
Appendix – Trade Associations
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