Home Improvement and Home Organization TrendTracker 2014

Download Home Improvement and Home Organization TrendTracker 2014

Post on 19-Jul-2015




1 download

Embed Size (px)


<p>PowerPoint Presentation</p> <p>Home Improvement &amp; organizationTRENDTRACKER 2014Riedel Marketing Group</p> <p>1Table of ContentsABOUT THE TRENDS .............................3WHY WE CONDUCT THE SURVEY WITH THE HOMETREND INFLUENTIALS PANEL .4HOMETREND INFLUENTIALS PANEL DEMOGRAPHCS ..5HOW WE GATHER THE DATA ................................6HOME IMPROVEMENT TRENDS 7Past year home improvement projects.Anticipated home improvement projects.Home improvement growth trends.Types of home improvement projects being done.HOME ORGANIZATION AND STORAGE ...11Emotional impact of being disorganized.Changes in how organized consumers are feeling.Reasons for changes in attitude about how organized home isChanges in the amount of home organization or storage solutions being purchased.Types of home organization and storage solutions being purchased.Past year garage make-over, remodeling, and/or re-organization project.Anticipated garage make-over, remodeling, and/or re-organization project in the next year.Type of garage make-over, remodeling, and/or re-organization project planned for the next year.APPENDICES ...18About the authorAbout Riedel Marketing GroupRiedel Marketing Group contact info</p> <p>22About the TrendsHome Improvement and Home Organization TrendTracker 2014 focuses on longer term attitudinal and behavioral trends and changes in home-related activities that are having and will continue to have -- a profound impact on the housewares industry. When consumers make changes in their home-related habits and practices, their needs change and the types of housewares products they buy and use change. Housewares manufacturers ignore these trends at their own peril. They run the risk of missing out on new growth opportunities, falling behind more trend-savvy competitors, and eventually going the way of the buggy whip makers who failed to adjust to a new trend that made their product obsolete.Because we focus on the gradual shifts in consumer attitudes and behaviors, the major trend themes that we track and monitor dont typically change dramatically from year to year. The drivers or underlying trends that impact consumer attitudes and behaviors do not come and go in a year or two. For example, as they have for the past several years, the economy, mobile technology, and social media are still driving changes in consumer attitudes and behaviors. </p> <p>43Why We Conduct the Survey with the Hometrend Influentials PanelHomeTrend Influentials are home owners who like their homes to look up-to-date and like to keep their fingers on the pulse of what is new for the home. They are constantly redecorating and making improvements to their homes. They enjoy talking with their family, friends, and co-workers about whats new for the home and they are sought out by friends and family for advice on what to buy for their homes and what to do to their homes. They are very active in community, civic, and political activities. They readily try new food, household cleaning, laundry, and housewares products that they see advertised or in stores and they eagerly recommend the products that they really like to others. HomeTrend Influentials pick up on new home-related trends and embrace new home goods much sooner than the rest of the U.S. population. As such, these influential consumers are the bellwether for predicting changes in the behaviors, habits and practices, and attitudes of mainstream Americans. If HIPsters embrace a new product, very likely it is going to be embraced by mainstream Americans within a couple of years. If HIPsters reject a new product, very likely the product is not going to be embraced by mainstream Americans either. Home Improvement &amp; Organization TrendTracker 2014</p> <p>54HomeTrend Influentials Panel DemographicsFemale: Although 5% of the HIPsters are male, the panel skews predominantly female.Early to mid 40's: Although a few are over 55 years of age, 20% of HomeTrend Influentials Panel members are between the ages of 25 to 34 years old, 39% are between 35 to 44 years old years of age, and 31% are between the ages of 45 and 54.Middle/upper class: 34% of HomeTrend Influentials Panel members have household incomes of less than $100,000, 37% have household incomes of between $100,000 and $150,000, and 28% have household incomes of more than $150,000.Employed: More than three quarters of HomeTrend Influential Panel members are in workforce. Two thirds of those in the workforce are employed full-time.Married: 87% of the HIPsters are married.Children living at home: 57% HomeTrend Influentials Panel members have children at home.Home Improvement &amp; Organization TrendTracker 2014</p> <p>5How We Gather the DataThe primary source of insight used to identify the major trends of 2014 was primary consumer research conducted by Riedel Marketing Group with the companys proprietary HomeTrend Influentials Panel (HIP). Three in-depth online surveys were conducted with the HomeTrend Influentials Panel in October 2013. In addition to conducting primary consumer research with the HomeTrend Influentials Panel, we glean insight from an array of other resources including business publications, other market research companies and consultants, and trade associations. Housewares TrendTracker 2014 is written and edited by RMG Senior Partner A.J. Riedel, a highly regarded marketing authority, forecaster of consumer trends, and advisor to many housewares companies. Riedel has been tracking housewares and home goods trends since 1999.</p> <p>Home Improvement &amp; Organization Trend Tracker 2014</p> <p>6Home improvement trendsHome Improvement &amp; Organization TrendTracker 2014</p> <p>7Americans will be doing more home improvement projects over the next couple of years than they have since before the recession.Home Improvement &amp; Organization TrendTracker 2014</p> <p>8Sales of home improvement products are trending up.Lowes Companies, Inc. third quarter sales increased 7.3%. Comparable sales for the quarter increased 6.2%. 1Home Depots revenue for the company climbed 7% to $19.47 billion from $18.13 billion exceeding Wall Streets expectations. 21 http://www.homeworldbusiness.com/Financials/Lowe's-Reports-Sales-Earnings-Growth-In-Q3/231662 http://www.usatoday.com/story/money/business/2013/11/19/home-depot-earnings/3637345/ The home improvement industry is poised for persisting growth in the fourth quarter and further acceleration in 2014. Robert Niblock, Lowes chairman, president and CEOHome Improvement &amp; Organization TrendTracker 2014</p> <p>9Cosmetic improvements such as painting and replacing flooring and remodeling the bath or kitchen are the most popular home improvement projects.What major home improvement or remodeling project(s) did you do? What types of home improvement or remodeling projects are you planning to do?Paint multiple rooms or the exterior of the house48%38%Landscape38%29%Add or remodel the bath32%30%Replace flooring32%38%Remodel the kitchen30%21%Install built-in closet organizers or built in cabinetry20%17%Add or expand a room10%8%Replace multiple windows18%12%Replace or majorly repair the roof18%12%Finish/remodel the basement6%12%Home Improvement &amp; Organization TrendTracker 2014</p> <p>10Home organization trends</p> <p>Home Improvement &amp; Organization TrendTracker 2014</p> <p>11Home Organization is major source of stress for AmericansEighty-four percent of recently stressed Americans say they worry that their home isn't clean or organized enough.Within that group, 55 percent called it out as a source of recent stress.Among all those who experienced some level of stress about home organization, nearly a third expressed being very or extremely stressed by their homes. And it wasn't just a stressor for women: 81 percent of men and 87 percent of women who reported experiencing anxiety over home upkeep.http://www.huffingtonpost.com/2013/05/22/home-organization-stress-survey_n_3308575.html?view=print&amp;comm_ref=false</p> <p>Worrying that their home isnt clean or organized enough is the fifth most common stress trigger among recently stressed Americans.Home Improvement &amp; Organization TrendTracker 2014</p> <p>12Not surprisingly, people feel more organized after they have done home organization projects. They feel less organized when they dont have time to keep up with the clutter.Home Improvement &amp; Organization TrendTracker 2014</p> <p>13Americans are purchasing more home organization and storage solutions than they did a year ago.Home Improvement &amp; Organization Trend Tracker 2014</p> <p>42They are buying more containers with stacking lids than any other type of home storage product.A larger percent of HomeTrend Influentials purchased containers with lids in 2013 than did in 2012. 20132012Containers that stack with lids71%60%Wall-mounted hooks/hanging solutions43%48%In-drawer organizers43%39%Closet shelving/systems39%61%Dressers/book shelves and other furniture with storage33%50%Filing boxes and/or cabinets for paperwork25%31%Storage bags20%16%Home Improvement &amp; Organization TrendTracker 2014</p> <p>15Americans are tackling their cluttered garages ...Home Improvement &amp; Organization TrendTracker 2014</p> <p>16 And buying storage and organization products so that they can get their garages organized.Home Improvement &amp; Organization TrendTracker 2014</p> <p>17APPENDICES18About the AuthorA.J. Riedel, Senior Partner of Riedel Marketing Group (RMG), is a highly regarded marketing authority in the housewares industry, the top forecaster of housewares trends, and an advisor to many housewares companies. A.J. has 24 years of experience and an excellent track record in the housewares industry. Her knowledge and understanding encompasses market dynamics, channels of distribution, housewares consumers, and trends impacting the industry, and marketing issues in the housewares industry.</p> <p>Home Improvement &amp; Organization TrendTracker 2014</p> <p>19About Riedel Marketing GroupFor over 22 years, Riedel Marketing Group (RMG) has been providing housewares companies with market and consumer data and insight that helps them make informed product and marketing decisions with confidence. Housewares manufacturers, ranging from large Fortune 500 corporations to smaller privately owned companies, seek our expertise. Past and current clients include Cuisinart, Jarden, Newell Rubbermaid, Progressive International, ChefN, Jokari, Dexas, Bradshaw International, and the International Housewares Manufacturers Association (IHA).Specializes Exclusively In Housewares: RMG is the only market research company that specializes exclusively in the housewares industry.Knowledgeable about Housewares Industry: I understand market dynamics, channels of distribution, consumers, history and trends, and marketing issues.Expertise in Research and Analysis: I have extensive experience with online surveys, product concept tests, market and competitive assessments, and home-use tests.Actionable Insight: I answer not just the what questions but also the so what (what are the ramifications of the data) and now what (what do we do as a result of this study) questions.Proprietary Consumer Panel: RMG is the only market research company with a proprietary housewares-focused Market Research Online Community (MROC).</p> <p>4820Riedel Marketing Group Contact Information602-840-49485327 E. Pinchot Ave., Phoenix AZ 85018ajr@4rmg.comwww.4rmg.comwww.twitter.com/AJRat4RMGhttp://www.linkedin.com/company/riedel-marketing-group </p> <p>49</p>