Future Trends: The Home Evolution
23 Jul 2019
Welcome to our Future Trends series, part of our 2019 Customer Engagement campaign.
The objective of our latest collection of articles is to inspire organisations to find innovative and diverse ways to respond to customers’ desires.
We support those brands willing to innovate and avoid the easy mistake of offering look-alike products and services. These only increase the number of options on the shelf rather than creating real value to customers.
When brands make decisions without addressing the real needs of the customer, they risk running into what Barry Schwartz, American Psychologist and Professor, defined as the Paradox of choice. The author believes that a situation of overchoice can lead to negative consequences and can affect people’s decision making. Feeling undecided can cause customers anxiety while they evaluate options, prolonging the process beyond what is warranted for the situation.
Therefore, for businesses that want to offer new ideas and products, there is no better place to start with than customers’ data. Marketers need to understand what people’s lives look like, what their routines are and where they spend their time. Indeed, understanding environments and social contexts can surface new and complex behaviours.
Within this series of articles, we will delve into The House an evolving space where now, thanks to innovation and technology, a lot of the external world is easily available.
People are living in their homes differently and this has created new needs and desires.
We will start with the exploration of these changes, both demographic and behavioural, that have brought solo-living to be the lifestyle that will characterise the decades ahead.
Moreover, we’ll show how The House has recently become an additional way to express our passions and personality.
Consequentially, we will see how unique fresh tribes of customers are asking businesses to create new solutions to better the experience of ‘being at home’. Customers are asking for a home which is comfortable and convenient, relaxing and productive, social and safe.
In particular, we will bring the focus on two specific characters, The Homeworker and The Over 60‘s Customer. We will delve into their behaviours, highlighting how brands could better engage with them.
All the articles will refer to data and industry trends explored and analysed by the DMA and its research partner Foresight Factory.
To find out more, follow the links to the full articles below: