The New Home and Garden Consumer

Strategy Briefing

About This Report

Jul 2016

A host of economic, social, demographic, technological and environmental factors are reshaping consumer behaviours and attitudes worldwide, and these are having a growing impact on preferences and spending patterns in the home and garden market. New patterns of consumption are emerging in segments ranging from gardening to home furnishings and home improvement that are strongly influenced by such trends as thrift, sustainability, wellbeing, connectivity and a desire for experiential consumption.

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The New Home and Garden Consumer

Emerging market urbanisation

The Asia Pacific region in general, and China in particular, is urbanising at an unprecedented rate. These newly affluent urban consumers are the main driver of growth in the global home and garden market.

Generation rent

Young adults in developed economies are finding it increasingly difficult to become economically independent and purchase their own home. This is having a negative impact on the home and garden market and beginning to impact furniture design.

An ageing population

The proportion of the population aged 65 years or older is expanding rapidly, and given their high level of home ownership and above-average purchasing power, so is their importance in the home and garden market.

Going green

Consumers are increasingly interested in the healthfulness of the products they buy, growing their own food, sustainability and reducing their carbon footprint. This is boosting demand in some segments, particularly seeds. On the other hand, some are attempting to reduce their overall level of consumption, undermining sales of furniture.

Ubiquitous internet

With smartphone possession now close to universal in many countries, e-commerce is now more accessible than ever, and home and garden retailers must adapt to this. Meanwhile, 3D printing is likely to emerge as a means of distributing homewares in the longer term.

Introduction

Scope
Key findings

Global Overview

Modest growth in global value sales
Asia Pacific and North America both overtake Western Europe
China drives global growth

Socioeconomic Drivers

Asia Pacific’s urbanisation wave
Smaller families mean smaller h ouseholds
Female consumers an increasingly important market
Emigration boosts demand in emerging markets
Emerging markets narrow the income gap
Credit boom in emerging markets
Housing snakes and ladders
Arrested development?
Generation rent
Ubiquitous internet alters shopping habits
New values, new consumers
Multiple drivers
Have we hit “peak stuff?”
“Generation rent” seeks flexibility
Noting strong demand for storage, IKEA embraces “Micro Living”
Supersize me
“Posh” paint bucks the austerity trend
Rise of the robots
The many health benefits of gardening
Urban gardening hits multiple sweet spots
Gardeners increasingly wary of some herbicides
Gardeners are still not ready to go peat-free
Climate change impacts gardening
LED lamps a high-tech money saver
Many emerging market consumers prefer “do it for me” to DIY
T ool sharing proliferates in North America
Retailers seek new growth avenues with “hacker spaces”
Home improvement 2.0

Future Trends and Opportunities

Asia Pacific to account for almost a third of global sales by 2020
China to remain global growth engine
The rising grey tide
Where will the next property crash be?
In search of new ways of living
IKEA moves towards multi-channel future
3D printing could upend distribution model
Key takeaways