The Ultimate Guide to the Consumer Market for Home Furnishings’ Marketers and Retailers…
(Note: Subscribers will also receive a free copy of Unity Marketing’s latest trend report on the affluent home remodeler and decorator entitled Home Is Where the Style Is, a $500 value)
The Home Furnishings & Decor Report 2008 is the definitive study of the consumers’ buying and spending preferences for home marketers and retailers, written by Pam Danziger, one of the nation’s leading expert on understanding the mindset of the consumer.
This report provides vital market size, growth and demographics for anyone and everyone that sells home furnishings, from marketers, advertisers, retailers, service providers. The Home Furnishings & Decor Report 2008 is an essential tool to understand the dynamics of the home market, today and into the future.
This report is written to make the most important research findings easily accessible and actionable. Key research findings are called out throughout the text with ideas that you can use to enhance your efforts to connect with the home consumer.
In addition, the final chapter of the report is written specifically to draw attention to important insights that can mean more success for your company. The goal for this report to deliver to you actionable marketing and branding strategies that will stimulate new approaches and creative ideas.
Objectives of the Research Study
This research report summarizes the key findings from a major new research initiative focusing on two market segments. One quantitative surveys was conducted among 1,360 consumers active in the home redecorating and remodeling market (referred to as the general survey). In addition some 1,026 affluent consumers (incomes $100,000 and above) were surveyed to provide a perspective on the luxury home market. This study helps marketers and retailers tap into the psychology of people who buy home furnishings and decorative accessories in order to understand their drives, motivations and passions in making home decorating decisions and purchases.
The insights provided in this report will help marketers and retailers understand their consumers better. This will help them discover new marketing strategies and opportunities in order to reach their target consumers more effectively and more productively.
This study brings a special emphasis not just on what home furnishings products consumer buy, but also on why they buy and where they shop for these goods. These insights translate directly into actionable strategies and tactics that marketers can use to build their businesses. Understanding the mindset of the home furnishing consumer, their desires and needs, is critical for companies to forge a path to market growth.
With a focus on consumers, their buying behavior, needs, desires and preferences, this research study will include research data and statistics about:
- Home Furnishings Market Size and Growth: What is the size of the home furnishings market, including furniture and decorative home furnishings? How is it segmented by type of product and service? How rapidly is it growing? What are future growth trends in the segments in the market?
- Demographics of the Home Furnishings Market: What are the demographic characteristics of home furnishings buyers? What are the key demographic differences found among and between buyers of the different products and service segments (e.g., gender, age, generation, HHI, size, composition, ethnicity/race, education, etc.)?
- Buying and Shopping Behavior of Home Furnishings Consumers: What are the primary characteristics of the consumers’ buying behavior related to home furnishings products and services? What kind of shopping experiences do consumers crave and what kind do they disdain? What motivates them to buy home furnishings and how can marketers tap these motivators through branding and marketing communications initiatives? Where do home furnishings consumers shop for the different types of products and services? What factors influence their decision making? How much do they spend buying each of the products and services segments and across the entire category? What is the role of brand in product and services selection and shopping choices? How do different demographic segments differ in their shopping and buying behavior?
- Favorite Home Furnishings Brands, Stores & Designers: A major thrust of the research is to understand the brand preferences of home furnishings customers in both their product selections and retail shopping choices. What designers, product brands and retailers do they think of for their purchases? How do these competing brands rank in terms of consumer awareness and usage?
Two Surveys — Two Different Consumer Market Perspectives — in One Study
Two surveys were conducted among two different types of consumers in order to provide marketers with perspectives on two distinct markets — the home furnishings market among the ‘classes’ and the masses. Both surveys were conducted in July 2008 and cover the same study period, July 2007 to the present. The two surveys were:
- General survey— This survey was conducted among a representative sample of households with incomes of $50,000 and above who had been or planned to be involved in a home redecorating or remodeling project in the past or coming year. A total of 3,036 respondents were surveyed to identify those 1,360 consumers that met the survey qualifications and completed the survey. The average age of the general survey sample was 44.3 years; household income was $123,900 with 20 percent of the sample falling within the $50,000-$74,999 income range and 24 percent in the $75,000-$99,999 range and the remaining 56 percent having income of $100,000 or more; 65 percent female and 35 percent male respondents. In the general survey all survey questions were included.
- Luxury survey — This survey was conducted in association with Unity Marketing’s quarterly Luxury Tracking study. The survey sample was 1,026 affluent consumers (qualifying income of $100,000 or more) and who purchased one or more luxuries in the three month study period. A total of 542 luxury survey respondents qualified to complete the home-related questions included in the survey by having been involved or planned to be involved in a home redecorating or remodeling project in the past year or coming year. The average age of the luxury consumers surveyed was 45 years; household income averaged $204,800 with 51 percent of those surveyed having incomes of $100,000-$149,999 and the remaining 49 percent with incomes $150,000 and above; and 64 percent were female and 36 percent male respondents. For the luxury home survey, a selective range of questions were asked. (Note: For the luxury portion of this study, the new Home Is Where the Style Luxury Trend Report (published July 2010), updates this section with a survey conducted in July 2010.)
Specific Products, Brands and Data Points Presented in this Study
Details about the product categories, types of retailers, brands and other data collected in the survey can be reviewed by clicking this link to see Intoduction & Methodology.
Special Investigation: Use of Home Decorators and the Internet and Other Media for Decorating Guidance
In both the general and the luxury surveys, consumers were asked if they used an interior decorator or designer in their current project. If they did, they answered additional questions about what type of decorator they used and what value the decorator brought to their project. This can provide powerful insight for home decorating professionals in positioning their services.
Further, they were also asked about the role that the Internet and other media, such as magazines and television, played in their project, either for research, decorating ideas and/or ordering products. The results of which can help marketers position their services more effectively and target the media that is most productive in their advertising campaigns.
Now you can make critical business decisions based upon facts – not beliefs, assumptions or fantasies
This report provides the facts and figures you need to develop winning marketing and business strategies. By working with the facts, not fantasies, you have a much better chance of success marketing to the home furnishings consumers. This report gives you a horizontal view of the home furnishings market, recognizing that marketers and retailers compete not just with companies within their vertical product niche, but across other discretionary product categories as well.
Within each category of home furnishings, the key drivers for purchase are studied, such as role of product and retail brand in purchase decision; the influence of sales price on purchase; where the shopper bought their last hme furnishings; why they bought them; whether their purchases were motivated by need or desire; and other motivational factors.
Special feature: Find out which of the different types of home furnishings consumers are your best customers
A special feature in Unity Marketing’s The Home Furnishings & Decor Report 2008 is a psychographic profile of the five types of home furnishings consumers. By understanding the distinct personalities and motivations of each type of consumer, marketers and retailers can more effectively target their best customers through more hard-hitting marketing messages.
October 2008 (193 pages)
Published Price: $3,500