The IHA has just released its 2023 IHA Market Watch Report, designed to assist the home and housewares industry with connecting to consumer values.
As consumers adjust to a post-pandemic world, this report revisits five key drivers or motivating factors in consumers’ purchasing decisions for home and housewares products – wellness, time, space, experience and responsibility.
The report is based on the Market Watch Survey, and sheds light on what consumers learned during the pandemic, what habits endure and how they see home lives evolving in the coming year.
Wellness
In 2023, wellness is an important driving factor. 81% said wellness was very or somewhat important and emerged as the top priority as 47% said it was their top priority.
Time
According to the report, 70% said they wished they had more time, or the resources to save time. 23% said they always wished they had more time, 18% said often and 29% said sometimes.
Space
60% said they experience some kind of space related challenge at home.
Experience
10% said they often try to create new experiences at home, such as meals, or social gathering. The survey indicated there is an opportunity to engage with consumers who are interested in these experiences, but may have barriers such as time, money, etc.
Responsibility
67% of respondents said they’re socially or environmentally conscious at home, either often (33%), or sometimes (34%).
