Furniture makers rely on trend forecasters to predict consumer preferences and cultural shifts, helping them decide what styles, colors, and designs to produce. This is crucial in a competitive market where consumer choices are abundant.
The process from trend prediction to the appearance of new furniture in showrooms takes about a year. This includes designing, fabric selection, and manufacturing.
Millennials are currently the most important demographic for home furnishings. They are in their early forties and represent a significant portion of the population.
The cloud couch became popular during the pandemic for both cultural and practical reasons. It represented a shift from formal to relaxed living and was one of the few products readily available due to supply chain disruptions.
The bets on grani millennial and butterfly print trends were successful, with positive feedback and good sales. Hackberry, while not the top performer, still gained traction and is expected to grow in popularity over the next few seasons.
You probably own a chair or a table or a sofa. And you probably think you know why you bought it. Because it was comfy. Or blue. Or the right price. But what if the style, the color, the cost, maybe even whether you would like it, were choices made for you years before you even thought about buying that piece of furniture.Today on the show: The city that makes or breaks the furniture world. We travel to High Point, North Carolina and meet the people who make the bets – on whether or not you'll want that comfy blue couch.*This episode was hosted by Amanda Aronczyk and Erika Beras. It was produced by James Sneed with help from Willa Rubin. It was edited by Jess Jiang, fact-checked by Sierra Juarez, and engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Help support Planet Money and hear our bonus episodes by subscribing to Planet Money+ in Apple Podcasts) or at plus.npr.org/planetmoney).*Learn more about sponsor message choices: podcastchoices.com/adchoices)NPR Privacy Policy)