Innovation Theater Focuses on Creating Strategies for Success in the Current Economic Marketplace

Creating strategies for success in the current economic marketplace will be the focus of this year’s presentations in the Innovation Theater at The Inspired Home Show 2023, March 4-7 at McCormick Place in Chicago.

Innovation Theater sessions will explore such topics inflation’s influence on the housewares consumer; directional dining and drinking trends; purchasing in a digital world; new packaging concepts; looking at history to forecast the future of housewares; export operations, procedures and compliance; and the state of the travel goods industry.

The Innovation Theater continues its commitment of bringing relevant, topical and actionable content to the Show at a time when the housewares industry wants and needs such information, direction and inspiration. The theater is located in Room E350 in the Hall of Global Innovation in the Lakeside Center. Sessions will be held Saturday through Monday.

Sessions on Saturday, March 4 begin at 11:30 a.m. running through 3 p.m., leading off with Anita Desai, head of Home & Living at TikTok, discussing Discovery to Purchase in a Digital World. The rise of digital commerce has accelerated in the past two years in almost every consumer facing industry, especially for home products and retailers. Digital platforms like Instagram, TikTok and other social media channels doubled-down with full-funnel commerce offerings from discovery through purchase. Consumers are learning, sharing and buying products online now more than ever.

Other Saturday sessions include:

• 2024 Householder Trends: A View of the Year. As climate change, global inflation and mass disruption to supply chains will have a direct impact on everyday lives and bank balances, there will be a redefinition of home from “nest” or “family hub.” Kate Usher of TrendBible will explore what’s driving change in the Home & Interiors industry in 2023 and beyond and discuss the key shifts impacting the way householders will think, feel and act.

On Sunday and Monday, March 5 & 6, sessions run from 9:30 a.m. through 3 p.m. Sunday sessions include:

• Inflation’s Influence on Housewares Consumer Behavior. Prices are rising on everyday goods and services leading some consumers to cut back on non-essentials while others look for small indulgences to lift their spirits. Peter Greene of Numerator will explain how inflation is impacting the housewares industry and what it means for consumer spending in the face of a potential recession.

• Food and Flavor 2023-24: Directional Dining and Drinking Trends and the Home & Housewares Consumer. Trend and economic forecasters agree that the current financial climate will cause consumers to spend more time at home again, including for dining and entertaining, but at an amplified desire for newness and adventure. The hunger for something fresh is poised to translate into a demand for new tastes, tools and techniques in the kitchen and on the table. Consumer insight expert Leigh Ann Schwarzkopf of Project Partners Network will examine the latest food and flavor forecasts, covering everything from ingredients, cuisine and nutritional trends, through new directions for sweets, savories and beverages.

• State of the U.S. Travel Goods Industry. Beth Goldstein of The NPD Group examines how pandemic-related consumer behaviors and priorities are impacting the U.S. travel goods market. Learn about the categories, brands, channels and items driving growth and/or declines.

• PFAS Regulation & Housewares Update. Fran Groesbeck of The Cookware and Bakeware Alliance will lead a panel discussion offering an overview of PFAS chemicals used to make a wide range of housewares products and what those across the industry need to know about new legislation requirements related to PFAS and how to adapt.

The theater concludes on Monday with these sessions:

• Back to the Future: Looking at History to Forecast the Future of Housewares. Consumers are past the lockdown life, gone through much of their revenge spending and now are living in inflationary times. Where will there be growth opportunities? Joe Derochowski of The NPD Group will provide a forecast for 2023 and talk about growth opportunities by taking a look back in history at consumers’ behaviors during past challenging economic times. He also will review current trends inside and outside of the Home + Housewares industry.

• New Directions in Licensing & Branding: Essentials for Businesses of Every Size & Shape. A panel of industry experts, including Leigh Ann Schwarzkopf of Project Partners Network and Tammy Talerico of Church & Dwight, will explore all that is new and next in the booming business of licensing and branding. The panel will reveal how licensing can enhance consumer confidence and drive customer loyalty, supporting the core identity of both retailers and suppliers.

• Export Operations, Procedures & Compliance. For companies considering export sales for the first time, Thomas Cook of Blue Tiger International will offer a broad scan of what and how to address export compliance; for seasoned experts, this will offer a thorough compliance cross-check. Topics include export supply chain, documentation, managing export trade compliance, export regulations, Incoterms, export licensing, license exceptions, export case studies, recordkeeping, electronic export information and other government agencies involved in the export process.

• Retail 360: Redefining the Customer Experience. The Global Innovation Award judges Wolfgang Gruschwitz, Scott Kohno and Henrik Peter Reisby Nielsen discuss key elements of a successful retail operation in 2023, offering updated expert advice on functions from store planning and marketing to visual merchandising and the use of digital technologies.

The Inspired Home Show, IHA’s global home + housewares marketplace, will be held March 4-7 at Chicago’s McCormick Place Complex. For more information about the 2023 Show and to register for a Show badge, please visit TheInspiredHomeShow.com/register.