The Growth Distillery, in collaboration with The Research Agency, has unveiled Reframe: Home Retail, new research into the home retail sector that identified three pathways for brands to follow to turn low consumer confidence into an opportunity for growth.
While the home retail category may be under pressure, the research shows ‘home’ has never been more important to Australians. 85 per cent of consumers say home is a sanctuary from the demands of the outside world while 87 per cent say they enjoy spending time at home. At the same time, one in three consumers say they feel more negative about their home and life within it compared to five years ago while 64 per cent say maintaining their home demands time and energy.
“When people talk about their homes and the items in them, there is a huge emotional connection. These aren’t just objects – they are reflections of who they are and what they are trying to achieve,” said Bethan Hockey, The Growth Distillery research director.
“In the home retail category, there’s a real opportunity for brands to go beyond form and function, and connect on a deeper level. By addressing the emotional and practical needs of consumers, brands can create meaningful relationships and drive growth,” she added.
Recognising home as both a refuge and a challenge, the study shows brands can connect better with customers by offering solutions that reduce the burdens of home and life while enhancing its comforts.
Reframe: Home Retail identified some core strategies that brands can use. Firstly, brands can alleviate the burdens of home and life by highlighting how products make everyday tasks easier, saving time and energy and preparing people to take on the day.
Brands should offer aesthetically pleasing, personalised products that reflect achievement and aspiration.
Brands should also provide products that support relaxation, rejuvenation, and personal goals, while emphasising comfort, innovative technology and personalised features.
