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Viewing report
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Home Report, 2004: The Who, What, Where, How Much and Why of Home Furnishings Shopping
Unity Marketing, Dec 2004
The way people relate to their home has changed in the new millennium. The cocooning trend which dominated the home furnishings market for the past 20 years has ended as consumers turn their energy beyond the home to reconnect with the outside world. Home no longer is a safe, protective cocoon, but a new hub for connecting with the outside world. This study is an investment for home marketers to understand and prepare for the foundational shifts occurring in today's consumer market.
Cocooning was great for marketers of home furnishings and home decorative products. But now that cocooning is dead, what is next? That is what this study helps home marketers and retailers explore.The simple fact is spending on home furnishings and decorative items is not growing like other areas of the consumer economy. Because of people's new attitude toward home, growth in home furnishings and decorative market fell far below overall growth in the consumer economy. Total consumer expenditures grew 5.2 percent in 2003 to reach $7.76 trillion, while home-related expenditures, excluding home entertainment equipment and computers, rose only 2.5 percent from $274.3 billion in 2002 to $281.1 billion.
Home marketers and retailers today are not just competing vertically against direct competitors in their product sectors, but they are competing horizontally against all kinds of new and exciting ways people can spend money, including travel and entertainment, apparel and fashion accessories, beauty products, jewelry and watches, cars, fine dining and luxury services like spas and landscaping.
This is a new study of the home furnishings and decorative consumer market based upon two consecutive years of study among over 2,000 typical U.S. households. Product categories included in this report include
- Aromatherapy and/or scented household products, such as potpourri, steamers or sprays
- Art, including original art or prints, lithographs, posters and other art reproductions
- Baskets, boxes, vases, pots and other decorative holders
- Candles and/or candle accessories, such as candle holders
- Decorations, such as Christmas and/or other seasonal decorations including party decorations
- Collectibles
- Figurines and sculptures
- Florals and greenery, including dried flowers and wreaths, for indoor use
- Flowers, seeds, shrubs and trees for outdoor landscaping
- Furniture and occasional furniture, including mattresses and/or box springs, upholstered, case goods
- Garden equipment and decorative items for garden or patio
- Greeting cards and/or personal stationary
- Home textiles, including rugs, throws, pillows, table linens, bed linens, etc
- Household storage systems, containers, and other storage solutions
- Kitchenware and accessories, such as cooking utensils, pots and pans, and other housewares
- Lamps and accent lighting
- Picture frames
- Tabletop china, crystal, silver and/or casual dinnerware, glassware, flatware, including serving ware, bowls, and centerpieces
- Wall decor, such as sconces, mirrors, shelves, and tapestries
- Window coverings, blinds, curtains and other window treatments
Data about purchase incidence, consumer spending, what kind of stores people buy different home products, and most importantly why they buy these products are also explored.
This new research study is an investment in the future of home marketers' and retailers' businesses so that they can stay out in front of their rapidly changing customers.
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