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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