The home is like a canvas that can be filled in however the owner desires; an important vehicle through which people can express their attitude to life and lifestyle demands. The diversity of uses for the home space has also fuelled creativity in renovation demands.
Frank Zhang, Senior Analyst, China Insights
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Executive summary
- Key issues covered in this Report
- The market
- Graph 1: total retail value growth rate of household appliances & audio-visual equipment, and home goods, 2015-23
- The consumer
- Graph 2: home living attitude , 2024
- Graph 3: interest in different home brand types, 2024
- Graph 4: purchase influencing factors, 2024
- Graph 5: online sources of product information and influencing, 2024
- Graph 6: style tag preferences, 2024
- Graph 7: feelings expected from the home , 2024
- Issues and insights
- What we think
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The market
- Market factors
- Graph 8: changes in spending on the home – spent more, 2022-24
- Graph 9: total retail value growth rate of household appliances & audio-visual equipment, and home goods, 2015-23
- Graph 10: priorities in life – a more comfortable living environment, 2021-23
- Graph 11: marriages and divorces registered, 2022 and Q1-Q3 2023
- Graph 12: % of total population aged 60 or above, 2012-23
- Marketing activities
- New product trends
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The consumer
- Living situation and attitudes towards home renovation
- Graph 13: living situation, 2022-24
- Graph 14: living situation, by age, 2022-24
- Graph 15: China, expected home renovation frequency, by city tier, 2024
- Home living habits and home product purchases
- Graph 16: I make the purchase decisions on most of the home products in my house – ‘yes’, by gender and living situation, 2024
- Graph 17: home living attitude , 2024
- Graph 18: select home living attitudes, 2018 and 2024
- Graph 19: I would try to buy the same brand of home products – ‘yes’, by gender and age, 2024
- Interest in different home brand types
- Graph 20: interest in different home brand types, penetration rate and preference rate, 2024
- Graph 21: interest in different home brand types, 2024
- Graph 22: interest in different home brand types, 2024
- Graph 23: select interest in different home brand types, preference rate, by age and monthly personal income, 2024
- Graph 24: interest in purchasing from luxury brands – preference rate, by city tier and gender, 2024
- Purchase influencing factors
- Graph 25: purchase influencing factors, 2024
- Graph 26: purchase influencing factors (top three), by gender and children in household, 2024
- Graph 27: purchase influencing factors (top 3), by the habit of inviting people home, 2024
- Graph 28: select purchase influencing factors (top three), by select brand types’ loyal and lost consumers, 2024
- Online sources of product information and influence
- Graph 29: online sources of product information and influencing, 2024
- Graph 30: online sources of product information and influencing – motivated my purchasing decision, by living situation, 2024
- Graph 31: online sources of product information and influencing, deeply studied, by gender and monthly personal income, 2024
- Style tag preferences
- Graph 32: style tag preferences, 2024
- Graph 33: select style tag preferences (first), by age
- Graph 34: style tag preferences (top three), by monthly personal income, 2024
- Graph 35: select style label preferences (top three), by loyal consumers and lost consumers of select brand types, 2024
- What customer want to feel at home
- Graph 36: feelings expected from the home , 2024
- Graph 37: select feelings expected from the home (top three), by gender and age, 2024
- Graph 38: select feelings expected from the home, by loyal consumers and lost consumers of smart home brands, 2024
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Issues and insights
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Appendix – methodology and abbreviations
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