Millennials will pay above entry level price points when they have a reason to do so. And with their focus on design, millennials will be more interested in fiber than in how the rug is actually made. The distinction between wool and polypropylene is more relevant than the surface look distinction between hand knotted and power loomed.
The example here is a hang tag from Orian Rugs (advertiser). It shows sizes and retail prices. The detail picture shows the rug hanging on the rack at the surface level. The rug is machine woven in polypropylene. But the surface effect is of a shaved and distressed older knotted rug in current colors.
On most floors, the 12×15 will be overwhelmingly beautiful. I think there is a substantial difference between the customer base for a 5×8 and a 12×15. All else may be the same, but the customer buying a $558.40 rug to me is as different from a customer buying a $2,600 rug as is the room that it is going into.
Polypropylene is a different fiber than wool. The design of this rug makes it look like a hand knotted rug, but the polypropylene fiber reduces the price and makes it totally practical in any situation.
Because of the easy clean-ability of polypropelene, I think furniture retailers should build one 12 x 15 into their room settings so their designers can talk about the power of buying a large rug. And I firmly believe I would also suggest decorators should always use a 9×12 for a dining room and not an 8×10—the chairs need to stay on the rug.
Given the choice between a statement rug of 12 x 15 made of polypropylene retailing at the affordable price of $2600 and a 5 x 8 at any price, the price and fashion conscious millennial will chose the larger rugs. Hence — a log of opportunity for retailers!
Note that Rug News andDesign has changed the policy on quoting price in relations to fiber. After discussions with advertisers and friends we have end our reluctance to deal with product prices primarily because millennials gathering information use price category as one of their indicators of appropriateness.