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Home Improvement and Home Organization TrendTracker 2014

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Home Improvement and Home Organization TrendTracker 2014 focuses on changes in household activities that are having – and will continue to have -- a profound impact on the housewares industry. Published by A.J. Riedel, Sr. Partner of Riedel Marketing Group. A.J. has been tracking the trends that impact the housewares industry for more than a decade.

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Home Improvement and Home Organization TrendTracker 2014

  1. 1. HOME IMPROVEMENT & ORGANIZATION TRENDTRACKER 2014 Riedel Marketing Group
  2. 2. Table of Contents ABOUT THE TRENDS ………………………………………………………………….............................3 WHY WE CONDUCT THE SURVEY WITH THE HOMETREND INFLUENTIALS PANEL ………….4 HOMETREND INFLUENTIALS PANEL DEMOGRAPHCS ……………………………………………..5 HOW WE GATHER THE DATA ……………………………………………………................................6 HOME IMPROVEMENT TRENDS………………………………………………………………………… 7  Past year home improvement projects.  Anticipated home improvement projects.  Home improvement growth trends.  Types of home improvement projects being done. HOME ORGANIZATION AND STORAGE …………………………………….…………………..………11  Emotional impact of being disorganized.  Changes in how organized consumers are feeling.  Reasons for changes in attitude about how organized home is  Changes 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 ………………………………………………………………………...………………………18  About the author  About Riedel Marketing Group  Riedel Marketing Group contact info 2
  3. 3. About the Trends  Home 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 don’t 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. 4
  4. 4. Why We Conduct the Survey with the Hometrend Influentials Panel  HomeTrend 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 what’s 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 & Organization TrendTracker 20145
  5. 5. HomeTrend Influentials Panel Demographics  Female: 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 & Organization TrendTracker 20145
  6. 6. How We Gather the Data  The primary source of insight used to identify the major trends of 2014 was primary consumer research conducted by Riedel Marketing Group with the company’s 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. Home Improvement & Organization Trend Tracker 20146
  7. 7. HOME IMPROVEMENT TRENDS Home Improvement & Organization TrendTracker 20147
  8. 8. Americans will be doing more home improvement projects over the next couple of years than they have since before the recession. Yes 44% No 56% 44% of HomeTrend Influentials did at least one major home improvement or remodeling project in the past year. Yes 52% No 48% 52% of HomeTrend Influentials are planning to do at least one major home improvement or remodeling project in the next year or so. Home Improvement & Organization TrendTracker 20148
  9. 9. Sales of home improvement products are trending up.  Lowe’s Companies, Inc. third quarter sales increased 7.3%. Comparable sales for the quarter increased 6.2%. 1  Home Depot’s revenue for the company climbed 7% to $19.47 billion from $18.13 billion exceeding Wall Street’s expectations. 2 1 http://www.homeworldbusiness.com/Financials/Lowe's-Reports-Sales-Earnings-Growth-In-Q3/23166 2 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, Lowe’s chairman, president and CEO Home Improvement & Organization TrendTracker 20149
  10. 10. Cosmetic 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 house 48% 38% Landscape 38% 29% Add or remodel the bath 32% 30% Replace flooring 32% 38% Remodel the kitchen 30% 21% Install built-in closet organizers or built in cabinetry 20% 17% Add or expand a room 10% 8% Replace multiple windows 18% 12% Replace or majorly repair the roof 18% 12% Finish/remodel the basement 6% 12% Home Improvement & Organization TrendTracker 201410
  11. 11. HOME ORGANIZATION TRENDS Home Improvement & Organization TrendTracker 201411
  12. 12. Home Organization is major source of stress for Americans  Eighty-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&comm_ref=false Worrying that their home isn’t clean or organized enough is the fifth most common stress trigger among recently stressed Americans. Home Improvement & Organization TrendTracker 201412
  13. 13. Not surprisingly, people feel more organized after they have done home organization projects. They feel less organized when they don’t have time to keep up with the clutter. More organized 44% Less organized 16% About the same 40% 44% of HomeTrend Influentials are feeling more organized than they did a year or two ago. 0% 10% 20% 30% 40% don't have time have too much clutter change in household composition don't have enough storage space in the midst of remodel/move other The reason HomeTrend Influentials are feeling less organized is because they don’t have enough time to get and stay organized. 0% 5% 10% 15% 20% 25% 30% 35% cleaning out /getting rid of junk am spending on organization projects have more time to clean and organize moved recently bought products to keep things organized have gotten a handle on staying organized remodelled have more storage space other The reason many of the HomeTrend Influentials are feeling more organized is because they have been spending time on home organization projects. Home Improvement & Organization TrendTracker 201413
  14. 14. Americans are purchasing more home organization and storage solutions than they did a year ago. Yes 39% No 61% 39% of HomeTrend Influentials purchased more home organization or storage solutions than they did a year ago. Home Improvement & Organization Trend Tracker 201442
  15. 15. They 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. 2013 2012 Containers that stack with lids 71% 60% Wall-mounted hooks/hanging solutions 43% 48% In-drawer organizers 43% 39% Closet shelving/systems 39% 61% Dressers/book shelves and other furniture with storage 33% 50% Filing boxes and/or cabinets for paperwork 25% 31% Storage bags 20% 16% 0% 20% 40% 60% 80% Containers that stack with lids Wall-mounted hooks/hanging solutions In-drawer organizers Closet shelving/systems Dressers/book shelves and other furniture with storage Filing boxes and/or cabinets for paperwork Storage bags 71% of HomeTrend Influentials purchased containers with stacking lids. Home Improvement & Organization TrendTracker 201415
  16. 16. Americans are tackling their cluttered garages ... Yes 24% No 76% 24% of HomeTrend Influentials did a make- over, remodeling, and/or re-organization project in their garage in the past year. Yes 42% No 58% 42% of HomeTrend Influentials plan to do a make-over, remodeling, and/or re- organization project in their garage in the next year. Home Improvement & Organization TrendTracker 201416
  17. 17. … And buying storage and organization products so that they can get their garages organized. 0% 10% 20% 30% 40% 50% 60% Add shelves and/or hooks to the walls Purchase containers to store small and large items Epoxy the garage floor Add overhead storage Install a workbench and/or cabinets Other 54% of HomeTrend Influentials are planning to add shelves and/or hooks to the walls of their garage in the next year. 39% are planning to buy storage containers. Home Improvement & Organization TrendTracker 201417
  18. 18. APPENDICES 18
  19. 19. About the Author A.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. Home Improvement & Organization TrendTracker 201419
  20. 20. About Riedel Marketing Group For 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, Chef’N, 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). 48
  21. 21. Riedel Marketing Group Contact Information  602-840-4948  5327 E. Pinchot Ave., Phoenix AZ 85018  ajr@4rmg.com  www.4rmg.com  www.twitter.com/AJRat4RMG  http://www.linkedin.com/company/riedel-marketing-group 49

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