Report Summary

Despite the category's discretionary nature, seasonal changes and the emotional benefits outdoor spaces can provide are avenues to drive engagement, and sales.

Marisa Ortega, Retail & eCommerce Analyst

Table of Contents

  1. Executive Summary

    • Key issues covered in this Report
    • Overview
    • What you need to know
    • Consumer trends: key takeaways
    • Market predictions
    • Opportunities
  2. Market Dynamics

    • Market context
    • Market drivers
    • US GDP expanded by over 3% in the fourth quarter
    • Graph 1: quarterly real GDP growth, 2020-23
    • Consumer prices rose by 3.2% in February – a slight uptick from the preceding month
    • Graph 2: headline CPI, shelter CPI, and Zillow Rent Index, 2022-24
    • Consumers are the most upbeat they have been in over two years
    • Graph 3: consumer sentiment index, 2021-24
    • Consumers' financial outlooks are increasingly optimistic
    • Graph 4: opinions on financial future, 2024
    • Declining mortgage rates can prompt outdoor furniture needs; though category interest remains, regardless of home ownership
    • Rising interest rates and the gap between wages and home prices have led to housing market concerns
    • Lead the sustainable shift in outdoor furniture
    • Navigate the future of outdoor living with tech
  3. Consumer Insights

    • The outdoor furniture consumer: fast facts
    • Patio and outdoor furniture consumer segments
    • For outdoor devotees, the outdoor space is not just a place, but a statement of lifestyle and pride
    • Help seasonal inspirers to achieve their outdoor vision
    • Offer functional, straightforward solutions to appeal to practical utilitarians
    • Empower consumer segments to achieve their outdoor living goals
    • Graph 5: cluster analysis of attitudes toward outdoor spaces, 2024
    • Types of outdoor living spaces
    • There are diverse consumer needs and preferences when it comes to outdoor spaces
    • Graph 6: types of outdoor living spaces, 2024
    • The size of outdoor spaces has an impact on product offerings
    • Cater to the constraints of urban living
    • Graph 7: types of outdoor living spaces – select responses, by area, 2024
    • IKEA expands with a new store format to better serve urbanites
    • Enrich outdoor living across the diverse landscapes of the United States
    • Graph 8: types of outdoor living spaces, by region, 2024
    • Uses of outdoor spaces
    • Outdoor spaces provide emotional and financial benefits
    • Graph 9: uses of outdoor spaces, 2024
    • Walmart speaks consumers' language to resonate
    • There are nuances in outdoor spaces usage based on consumers' age
    • Graph 10: uses of outdoor spaces, by age, 2024
    • Brands must stay top-of-mind with older consumers
    • Graph 11: uses of outdoor spaces, by age, 2024
    • Households with children take the fun outside
    • Differing family dynamics create multifacted purposes for outdoor spaces
    • Graph 12: uses of outdoor spaces, by age of children in the household, 2024
    • Outdoor devotees enjoy gatherings and entertaining
    • Graph 13: uses of outdoor spaces, by cluster, 2024
    • Types of patio & outdoor furniture and decor
    • Consumers want outdoor spaces that are functional, comfortable, and aesthetically pleasing
    • Graph 14: types of patio and outdoor furniture and decor, 2024
    • Elevate outdoor comfort
    • Adults aged 25-34 have a broad interest in patio and outdoor furniture
    • Graph 15: types of patio and outdoor furniture and decor – any interest, by age, 2024
    • Take kids' needs into account to appeal to parents
    • Graph 16: types of patio and outdoor furniture and decor – any interest, by children in the household, 2024
    • Home Depot appeals to parents through events for kids
    • Channels and retailers shopped
    • Modern consumers are multi-channel shoppers
    • Graph 17: channel shopped, by age, 2024
    • Amazon is the preferred place to shop for patio and outdoor furniture, though retailers with physical stores have an opportunity to differentiate
    • Graph 18: retailers shopped, 2024
    • 25-34s shop at a variety of retailers, presenting an opportunity to establish stronger loyalty
    • Graph 19: retailers shopped, by age, 2024
    • Crate & Barrel employs its branded credit card to drive loyalty
    • Seek a deeper connection with multicultural consumers
    • Graph 20: retailers shopped, by race and Hispanic origin, 2024
    • Suburban consumers have limited options to shop for patio and outdoor furniture
    • Graph 21: retailers shopped, by area, 2024
    • Home Depot appeals to suburban and rural consumers through content specific to their needs
    • Sources of inspiration
    • Embrace social media platforms to inspire consumers
    • Graph 22: sources of inspiration for outdoor spaces, 2024
    • Wayfair inspires consumers through TikTok
    • Social media, peers and in-store displays are key for outdoor inspiration
    • Younger consumers look for guidance on how to best utilize their outdoor spaces
    • Graph 23: sources of inspiration for outdoor spaces – select responses, by age, 2024
    • Take targeted approaches to inspire multicultural consumers
    • Graph 24: sources of inspiration for outdoor spaces – select responses, by race and Hispanic origin, 2024
    • Authentic and genuine efforts are needed to appeal to multicultural consumers
    • Help suburban and rural consumers to find the potential in their outdoor spaces
    • Graph 25: sources of inspiration for outdoor spaces, by area, 2024
    • Utilize the right media to engage consumers
    • Graph 26: sources of inspiration for outdoor spaces, by cluster, 2024
    • Considerations when shopping for outdoor furniture
    • Consumers want value, without compromising on quality
    • Graph 27: considerations when shopping for outdoor furniture – any rank, 2024
    • Younger consumers look for specific features in their outdoor furniture
    • Graph 28: considerations when shopping for outdoor furniture – any rank, by age, 2024
    • Target and Studio McGee democratize access to style
    • Take a localized assortment approach to increase relevance among consumers
    • Graph 29: considerations when shopping for outdoor furniture, by region, 2024
    • Attitudes toward outdoor spaces
    • Outdoor spaces contribute to quality of life
    • Graph 30: attitudes toward outdoor spaces – connection to outdoor spaces, by gender and age – any agree – NET, 2024
    • West Elm inspires consumers to maximize their outdoor spaces
    • Help hosts to make their outdoor gatherings unforgettable
    • Graph 31: attitudes toward outdoor spaces – outdoor entertaining, by age – any agree – NET, 2024
    • Brands can inspire consumers with tips for their gatherings
    • Consumers take a strategic approach to spending on their outdoor space
    • Graph 32: attitudes toward outdoor spaces – willingness to spend – any agree – NET, 2024
    • Transform inspiration into sales
    • Graph 33: attitudes toward outdoor spaces – areas of opportunity – any agree – NET, 2024
    • As warmer weather approaches, brands offer tangible value to drive discretionary spending
    • Outdoor furniture can be a year-round opportunity, particularly in regions where the climate is less extreme
    • Graph 34: attitudes toward outdoor spaces – seasonality, by region – any agree – NET, 2024
  4. Innovation and Marketing Trends

    • IKEA implements a price-cut strategy
    • Polywood crafts a sustainable future
    • West Elm makes its partnerships count
    • Opportunities
    • Key opportunities
  5. Appendix

    • Market definition
    • Consumer research methodology
    • Generations
    • Abbreviations and terms
    • How to read TURF analysis
    • The older consumers are, the higher their homeownership rate
    • Historically, homeownership among multicultural householders is lower

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