Analysis of U.S. Household Home Furnishings Expenditures: A Minority Report
Unlike many products in the marketplace, the home furnishings industry in the United States is faced with a unique dilemma in marketing to its consumers, because: (1) relatively little product information is available to the end consumer about home furnishings and the home furnishings industry; and (2) relatively little consumer information is available to home furnishings manufacturers and retailers about their consumers' wants and needs--particularly information about the differences in the purchasing habits of minority populations. This paper seeks to explore the differences, similarities, and patterns of consumer expenditures on home furnishings in regards to minority populations in the United States, based on data from the 2001 Consumer Expenditure Survey (interview survey and detailed expenditure files). This paper will also juxtapose the demographic characteristics of minority populations to home furnishings expenditures in order to develop a more accurate consumer profile for the U.S. home furnishings market.This paper was presented at the 14th International Conference of the International Trade and Finance Association in San Antonion, Texas, May 21, 2004.
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|Date of creation:||01 May 2004|
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