Housewares Industry Trends by Tom Mirabile

by Rachel Crippin Clark

and developers of home and housewares products should shift their focus to consumers’ goals and aspirations, says Tom Mirabile, principal of Springboard Futures and IHA’s consumer trends analyst. “Trends come and go, lifestyles change, technologies advance, but aspirations only shift,” says Mirabile. “Aspirations are durable. They form the core of what we want for ourselves and the people we care about.”

Though the pandemic is receding, consumers across all generations still hold happiness high on their list of aspirations. That’s because our stress has built up over the last few years, and now our increasingly busy lives are adding to it, according to Mirabile. International market research firm Mintel recommends that brands prioritize positivity in their messaging, while emphasizing fun experiences or feelings of enjoyment. Mirabile advises the home and housewares industry to really tap into the happiness quotient. “No other industry is as close to consumers’ hearts as we are,” he says. Interesting fact: “The Happiness Report” from Oracle and author Gretchen Rubin found that 91% of people globally prefer brands to be funny, yet 95% of business leaders fear using humor in consumer interactions. Housewares brands don’t necessarily need to hire stand-up comics for their marketing. Sharing how they make people’s lives easier—either by cutting down on cooking prep or helping with clean-up—plays a big part in people’s happiness too.

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We’re all talking about health these days. So, it’s no wonder wellness is currently a $450 billion industry. But did you know it’s expected to be worth $1 trillion by 2025, according to global management consulting firm McKinsey & Company? They further define six dimensions to wellness: health, fitness, nutrition, appearance, sleep and mindfulness. There are some generational differences over what aspect of health is viewed as most important, but it’s important to note that mindfulness has now moved to the mainstream.

Mirabile says there’s opportunity there for the home and housewares industry: “How can we as an industry tether our offerings to the massive and durable consumer desire for wellness?”

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Consumers’ expectations of brands are evolving, and they want to see progress against ethical initiatives, including sustainability, fair trade and workers’ rights. According to Ernst & Young, many consumers have prioritized sustainability in recent years, but economic uncertainty is driving some to focus on affordability more. According to their adaptation on Maslov’s Hierarchy of Needs, E&Y say most people now put affordability first (31%), followed by health (24%), planet (18%), society (15%) and experience (11%). That’s probably why resale is gaining a lot of steam—it speaks to both our needs for affordability and environmental responsibility. Again, there are some generational differences in attitudes about resale. (Younger people tend to think it’s cool to give or receive refurbished items as gifts; older generations, not so much). But retail giants Williams-Sonoma, Walmart and Nordstrom are all planning resale program expansion. That means the topic of resale and refurbished should be a strategic consideration throughout our industry. What social responsibility areas should companies prioritize? According to KPMG, the top four initiatives consumers would like to see are:

[1] Improving labor/work policies (54%) [2] Protecting consumer data (46%) [3] Offering products/services to those in need (44%) [4] Reducing carbon footprints (42%)

“In times of uncertainty, consumers crave a sense of control over their lives,” says Mirabile. “Brands can deliver the information and options consumers need to feel like they’re in the driver’s seat.”

Consumers want clarity, transparency, flexibility and options to make decisions that suit their individual needs and circumstances. That means retailers and brands need to help make customers feel empowered throughout the shopping experience. It also means providing elements of convenience and choice.

Personalization is a key part of consumer’s desire for control. But keep in mind: “People want the best of both worlds when it comes to privacy and personalization,” says Mirabile. In other words, they’re more likely to give you their data if they know what personal benefits they’ll receive.

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Consumers today are aspiring to be more social, both online and in real life. Social media also enhances real life moments and is a particularly effective way for connecting with younger generations. Mirabile says that social media presents continuous near-term opportunities for brand exposure and consumer engagement. In particular, “TikTok is a gateway to authentic, limited-time exposure,” he says. But Mirabile also points out that search engines are the top way consumers find retailers and brands. (And yes, 81% of retail shoppers do online research before buying.) So, make sure you’re up to date with your search engine optimization and are adding new web content often.

Consumers want to know they can trust the companies they do business with to keep them safe. Gaining—and maintaining—trust is critical today. Global communications firm Edelman has an annual consumer trust barometer that now shows business as the only remaining “trusted” institution (above government, non-government organizations and media). A key part of trust is protecting consumers’ data, says Mirabile. If you’re doing anything above and beyond or different from your competitors, make sure to communicate it with current and potential customers. |•

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