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Consumer Trends, Attitudes and Spending Habits on the Home - UK - March 2016

“The UK’s 27 million households spent £27.2 billion on buying for their homes in 2015. And when the housing market is buoyant, people spend more freely to create the homes they want. Owner-occupiers and those who feel that their finances are healthy are the most active group of purchasers for the home, especially for large projects such as extending as well as refitting kitchens or bathrooms. But private renting has been growing, particularly among the under-35s, creating short-term attitudes, encouraging low-ticket purchases and reshaping their priorities when spending on the home.”
– Jane Westgarth, Senior Market Analyst

This report answers the following questions:

  • What impact is the rise in private renting having on demand for products for the home?
  • Is ‘improve not move’ a real phenomenon?
  • What makes people feel happier about their homes?

The majority of people spend most of their leisure time at home so helping them create a home that they feel happy with is very important. People love to lounge watching the television, but also the home takes on a wide variety of other uses. Sociable types love to create parties and entertain friends at home; the home is a place for quality play time with the kids, plus having a zone for working at home matters to some. Tidying away the clutter can be a key factor in helping people feel happy about their homes, and redecorating, buying new furniture and revamping rooms creates a feelgood factor among householders, whether they own their homes or are among the growing percentage who rent them. They seek ideas through a wide range of media and channels, using online, printed catalogues and browsing in stores. So to appeal to tomorrow’s spender on the home retailers need an omni-channel presence.

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Table of contents

  1. Overview

    • What you need to know
      • Products covered in this report
      • Executive Summary

          • The market
            • Spending on the home to grow by 3% per year
              • Figure 1: Consumer spend on the home, 2010-20
            • Living and dining 22% of all
              • Figure 2: Consumer spend on the home, by segment, 2015
            • Market factors
              • Reshaping home ownership
                • Figure 3: Housing tenure, UK, 2012-15
              • Buoyant property market
                • Figure 4: Residential property transactions, UK, 2011-15
              • The consumer
                • Figure 5: Purchases and home improvement in the last three years and intention to spend in the next 12 months, November 2015
              • Owner-occupiers are a key target group
                • Figure 6: Purchases and home improvement in the last three years, November 2015
              • Owner-occupiers are key
                • Figure 7: Purchases and home improvement in the last three years, repertoire, November 2015
              • Furniture and decorating top the list of intended spend
                • Figure 8: Intentions to spend on the home in the next 12 months, November 2015
              • Happiness is the main motivation for spending on the home
                • 20-34s want their own look
                  • Figure 9: Reasons for spending on the home, November 2015
                • Retailer websites a rich source of ideas
                  • Figure 10: Sources of ideas for the home, November 2015
                • 73% spend most of their leisure time at home
                  • Figure 11: Attitudes towards time at home, November 2015
                • Key target groups
                  • Figure 12: Customer target groups, November 2015
                • What we think
                • Issues and Insights

                  • What impact is the rise in private renting having on demand for products for the home?
                    • The facts
                      • The implications
                        • Is ‘improve not move’ a real phenomenon?
                          • The facts
                            • The implications
                              • What makes people feel happier about their homes?
                                • The facts
                                  • The implications
                                  • The Market – What You Need to Know

                                    • Buoyant market conditions
                                      • Living and dining is the largest sector
                                        • 4% more UK homes within five years
                                          • Growth of private renting
                                            • Profile of private renters is young
                                              • Growth in housing transactions
                                                • One- and two-person households fastest growing
                                                  • 22.8 million gardens
                                                    • Improved consumer confidence
                                                      • Improve not move
                                                        • Storm damage
                                                        • Market Size and Forecast

                                                          • Growth of some 3% each year
                                                            • Figure 13: Consumer spend on the home, 2010-20
                                                            • Figure 14: Consumer spend on the home, 2010-20
                                                          • Market segmentation
                                                            • Figure 15: Consumer spend on the home, by segment, 2015
                                                            • Figure 16: Consumer spend on the home, 2011-15
                                                        • Market Drivers

                                                          • The UK’s homes
                                                            • Number of UK homes will grow 4% in five years
                                                              • High growth of household numbers in London
                                                                • Figure 17: Number of households, England, 2004 and 2014
                                                              • Changing pattern of home ownership
                                                                • Figure 18: Number of households, England, 2004 and 2014
                                                              • Homeowners in the majority
                                                                • Figure 19: Housing tenure, UK, 2012-15
                                                              • Growth in housing transactions
                                                                • Figure 20: Residential property transactions, UK, 2011-15
                                                              • One- and two-person households fastest growing
                                                                • Figure 21: UK households, by size, 2009-19
                                                              • Changing household structures
                                                                • Figure 22: Families in the UK, by family type, 2004 and 2014
                                                              • Profile of private renters is young
                                                                • Figure 23: Housing tenure, by selected demographics, November 2015
                                                              • Space in the UK’s homes
                                                                • Figure 24: Floor area, by tenure, England, 2012
                                                              • Gardens and outdoor spaces
                                                                • Figure 25: Availability of outside space, by tenure, 2012
                                                                • Figure 26: Availability of gardens and outdoor space, April 2014
                                                              • Consumer confidence
                                                                • Improved consumer confidence
                                                                  • Figure 27: Trends in current financial situation compared a year ago, measured at October, 2011-15
                                                                • Other market drivers
                                                                  • Seasonal priorities
                                                                    • Figure 28: Trends in activities done and consider to do an d spend money on my home (new kitchen, redecorate, new furniture etc), July 2012-September 2015
                                                                  • Improve not move
                                                                    • Figure 29: Planning, householder developments, England, 2014 and 2015
                                                                  • Disruptive influences including floods
                                                                  • Key Players – What You Need to Know

                                                                    • Retailers adjusting to new challenges
                                                                      • Delivery developments
                                                                        • Wellbeing incorporated into marketing themes
                                                                          • The retailer as designer
                                                                            • Modern technology in the home
                                                                              • Adapting to smaller living spaces
                                                                                • Improving the virtual experience
                                                                                  • Tapping into retro fashion
                                                                                  • Launch Activity and Innovation

                                                                                    • Opening smaller store formats
                                                                                      • Delivery developments
                                                                                        • Wellbeing incorporated into marketing themes
                                                                                          • Figure 30: Jardiland focus on wellbeing, 2015
                                                                                        • Getting creative with room planning and design
                                                                                          • Adapting to the demands of modern technology in the home
                                                                                            • Adapting to smaller living spaces
                                                                                              • Improving the virtual experience
                                                                                                • Brand extension
                                                                                                  • Encouraging greater footfall
                                                                                                    • Working with local artists
                                                                                                      • Tapping into retro fashion
                                                                                                      • The Consumer – What You Need to Know

                                                                                                        • 43% of households have redecorated in the last three years
                                                                                                          • 30% of private renters have redecorated
                                                                                                            • Over-optimism about future spending
                                                                                                              • Happy homes
                                                                                                                • Making the place my own
                                                                                                                  • Boost to property values
                                                                                                                    • Retailer websites used for ideas
                                                                                                                      • Catalogues remain important
                                                                                                                        • Passionate homeowners are the key target group
                                                                                                                        • Purchases and Home Improvement

                                                                                                                            • Figure 31: Purchases and home improvement in the last three years and intention to spend in the next 12 months, November 2015
                                                                                                                          • Profiles of purchasers
                                                                                                                              • Figure 32: Purchases and home improvement in the last three years, November 2015
                                                                                                                            • Owner-occupiers are key
                                                                                                                              • Figure 33: Purchases and home improvement in the last three years, repertoire, November 2015
                                                                                                                            • Extensions and conservatories
                                                                                                                              • Figure 34: Extensions and conservatories in the last three years, by age and socio-economic group, November 2015
                                                                                                                            • Furniture and floorcoverings
                                                                                                                              • Figure 35: Furniture and floorcoverings purchased in the last three years, by household tenure, November 2015
                                                                                                                            • Kitchens and bathrooms
                                                                                                                              • Figure 36: Kitchens and bathrooms refitted in the last three years, by household tenure, November 2015
                                                                                                                            • Major garden projects
                                                                                                                              • Figure 37: Major garden projects in the last three years, by socio-economic group and household tenure, November 2015
                                                                                                                            • Energy efficiency and home security
                                                                                                                              • Figure 38: Spend on energy efficiency and security in the last three years, by socio-economic group and household tenure, November 2015
                                                                                                                          • Intentions to Spend on the Home in the Next 12 Months

                                                                                                                              • Figure 39: Intentions to spend on the home in the next 12 months, November 2015
                                                                                                                            • 57% intend to spend on their homes in 2016
                                                                                                                              • Figure 40: Intentions to spend on the home in the next 12 months, any, by socio-economic group and tenure, November 2015
                                                                                                                            • Owner-occupiers with a mortgage are the most active
                                                                                                                              • Figure 41: Intentions to spend on the home in the next 12 months, repertoire, November 2015
                                                                                                                          • Reasons for Spending on the Home

                                                                                                                            • Happiness at home
                                                                                                                              • Triggers for spending
                                                                                                                                • 20-34s want their own look
                                                                                                                                  • Green and lean
                                                                                                                                    • Boosting the property value
                                                                                                                                      • Creating better use of space
                                                                                                                                          • Figure 42: Reasons for spending on the home, November 2015
                                                                                                                                        • One or two reasons stimulate spend
                                                                                                                                          • Figure 43: Repertoire of reasons given for spending on the home, November 2015
                                                                                                                                      • Sources of Ideas for the Home

                                                                                                                                        • People go straight to websites for ideas
                                                                                                                                          • Younger Millennials making most use of the internet
                                                                                                                                            • The catalogue remains important
                                                                                                                                              • Figure 44: Sources of ideas for the home, November 2015
                                                                                                                                            • People use a variety of sources
                                                                                                                                              • Figure 45: Sources of ideas for the home, repertoire, November 2015
                                                                                                                                          • Attitudes towards Time at Home

                                                                                                                                                • Figure 46: Attitudes towards time at home, strongly agree and agree, November 2015
                                                                                                                                            • Customer Target Groups

                                                                                                                                                • Figure 47: Customer target groups, November 2015
                                                                                                                                                • Figure 48: Attitudes towards the home, by target groups, November 2015
                                                                                                                                              • Spending on the home by target groups
                                                                                                                                                • Figure 49: Spending on the home, by target groups, November 2015
                                                                                                                                                • Figure 50: Repertoire of spending on the home, by target groups, November 2015
                                                                                                                                              • Sources of ideas for the home, by target groups
                                                                                                                                                • Figure 51: Sources of ideas for spending on the home, by target groups, November 2015
                                                                                                                                            • Appendix – Data Sources, Abbreviations and Supporting information

                                                                                                                                                • Fan chart forecast
                                                                                                                                                  • Abbreviations
                                                                                                                                                    • Background to planning applications

                                                                                                                                                    Companies Covered

                                                                                                                                                    To learn more about the companies covered in this report please contact us.

                                                                                                                                                    Consumer Trends, Attitudes and Spending Habits on the Home - UK - March 2016

                                                                                                                                                    £1,995.00 (Excl.Tax)