IHA Market Watch 2020

Consumers feel pressed for time due to a confluence of job demands and kids’ schedules. They therefore place a high value on time-saving products. This stress placed on consumers heightens the demand for offerings that meet their time-saving needs. Join the authors of IHA’s 2020 Market Watch Report for a discussion of this trend and implications for product and retail strategy, including how it has evolved over the last three months.

Living spaces are not only becoming smaller and more urban, but also the composition of households is shifting away from the nuclear family. This dynamic is shaping the Housewares industry profoundly. Products must fit consumers’ spaces as well as fit the needs of those occupying those spaces. Join the authors of IHA’s 2020 Market Watch Report for a discussion of this trend and implications for product and retail strategy, including how it has evolved over the last three months.

The ability to share one’s own experience and learn from others’ experiences continues to increase with the proliferation of social media. Shoppers can now more than ever be specific on their needs and seek offerings uniquely tailored to their lives. Tangible products are no longer the sole driver of a purchase. Shoppers are seeking an experience when they trial, purchase and use a product. In addition, they want to impress their friends. Join the authors of IHA’s 2020 Market Watch Report for a discussion of this trend and implications for product and retail strategy, including how it has evolved over the last three months.

The increased awareness of mental and physical health needs, in order to live healthier lives, permeates all aspects of consumers’ purchasing decisions. Consumers want to purchase products they trust will improve their wellness and overall quality of life. With rising healthcare costs, consumers are taking responsibility by enacting self-care. Join the authors of IHA’s 2020 Market Watch Report for a discussion of this trend and implications for product and retail strategy, including how it has evolved over the last three months.

From climate change to local environmental issues, consumers are demanding responsible actions from major stakeholders. The younger generations are leading the charge and are paying close attention. Simply put, companies must offer more than a good product at a good price. The value equation is shifting, and responsibility is a major component. Join the authors of IHA’s 2020 Market Watch Report for a discussion of this trend and implications for product and retail strategy, including how it has evolved over the last three months.

The home + housewares industry has and will continue to feel significant disruption from the events of the last three to four months. What new habits are consumers picking up that are likely to stand the test of time and what new overarching lifestyle trends might emerge from this unprecedented time? Join the authors of IHA’s 2020 Market Watch Report for a discussion of where we go from here, including a sneak peak into the trends expected to show up in the 2021 Report.