The Growth Distillery, in collaboration with The Research Agency, has unveiled new research into the home retail sector that shows three pathways for brands to follow to turn low consumer confidence into an opportunity for growth.
Reframe: Home Retail revealed that while the home retail category may be under pressure, the research shows ‘home’ has never been more important to Australians.
85% of consumers say home is a sanctuary from the demands of the outside world, while 87% say they enjoy spending time at home. At the same time, one in three consumers feel more negative about home and life within it compared to five years ago, while 64% say maintaining their home demands time and energy.
The study shows brands can connect better with customers by offering solutions that reduce the burdens of home and life while enhancing its comforts and recognised home as both a refuge and a challenge.
Reframe: Home Retail identified three core strategies that brands can use:
• Alleviate the burdens of home and life: brands should highlight how products make everyday tasks easier, saving time and energy and prepare people to take on the day
• Showcase success: brands should offer aesthetically pleasing, personalised products that reflect achievement and aspiration
• Reimagine the sanctuary: brands should provide products that support relaxation, rejuvenation, and personal goals, while emphasising comfort, innovative technology and personalised features
Bethan Hockey
Bethan Hockey, The Growth Distillery research director, said: “When people talk about their homes and the items in them, there is a huge emotional connection. These aren’t just objects – they are reflections of who they are and what they are trying to achieve.
“In the home retail category, there’s a real opportunity for brands to go beyond form and function, and connect on a deeper level. By addressing the emotional and practical needs of consumers, brands can create meaningful relationships and drive growth.”
See also:
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Social connection the main motivation for sports fans under the age of 40: The Growth Distillery