This year yet another industry is finding themselves tied into fashion, as consumers find ways to show extensions of themselves...and that is through home furnishings and decor. We've seen fashion trends tied into home accessories (The Company Store, Color Block), making home luxuries a hot trend right now.
"Luxuries, in a recession?" you ask? It makes sense. With staycations the focus of last summer and more people spending time in their home in general, it was a matter of time before they would want to find ways to make those four walls more enjoyable to look at. Therefore a trend was born and as the economy seems to show small peeks of bouncing back, the demand for home luxuries has increased.
Pam Danziger, author of the new trend report "Home is Where the Style Is," and the President of Unity Marketing explains how trends are affecting luxury consumers' home redecorating, remodeling, and improvement projects through a survey that was conducted of 1,349 affluent luxury consumers. She breaks down these consumers into 4 personalities: The Castle Keeper, The Hostess, The DIYer and The Nester. She further goes on to explain how to market and sell more effectively to each type. Now would be a great time to learn this market and find out how you can tap into it.
Is your company already targeting this market?
*Photo source: Style Estate Blog
