Catering to shopper's needs is no small order Americans continue to transform their homes into private retreats from the outside world. Due in part to bouts of self-indulgence--the home and hearth trend continues to influence consumer purchases, reports the International Housewares Association
When reality television includes more interior design shows than you can count on two hands, it comes as no surprise that industry experts report the top remodeling project in the home is the kitchen. High on homeowner's "must-have" lists are great places for storing accessories including backsplash storage units and surface systems with off-counter shelving, according to hardware industry data This is good news for retailers since kitchen remodels often stimulate sales of food prep categories from major appliances to small appliances as well as cookware, dinnerware and ancillary related items such as tea and coffee accessories.
Since "must-have" basic core kitchen appliances or replacement products such as auto drip coffee makers continue to sell well--that's another good news bulletin for sales of related accessory items, according to the Housewares MarketWatch report.
Consumer Purchase Patterns / Behavior
Current events both domestically and around the globe such as the weakened economic climate, coupled with the terrorist attacks and the rising unemployment rate, definitively affect consumer purchase patterns. To guide retailers in their understanding of the consumer mindset, the Reidel Marketing Group suggests the following: "The products that do well will be the ones that deliver one of four benefits: the product makes life easier or more comfortable, the product is a timesaver, the product helps to simplify lives or the product makes the home a haven."
Statistics tell us that women represent 51% of the population, and influence or spend directly $2 out of $3 trillion in consumer goods sold annually, according to the IHA. Consumers who are cooking aficionados want the best cookware they can afford and are willing to buy whatever accessories and specialty tools they think will enhance their skills or make them look savvy when competing with the Joneses. Many consumers live with high levels of psychological denial about the connection between their buying habits and the social statements they make, according to The Overspent American. Pundits say that playing to this emotional need can be instrumental to add-on sales.
While Kitchenware has always primarily been women's territory men have made some progress in the kitchen with purchases of some small electrics and gadget accessories. For instance, design analysts claim that more men are drawn than women to items with a high-tech feel or look. Further evidence of this purchase inclination: manufacturers have taken note that gray Is a popular in the home decorating market. It is the new "it" color, and all shades are popular, from charcoal to silver. Surveys also tell us that if you ask most men about their favorite place in the house they will invariably say the garage. So it's not a bad thing to think in terms of color in more mundane goods when setting purchase and merchandising strategies for the male demographic, according to Lee Eiseman, Executive Director of the Pantone Color Institute.
In a slow economy, consumers are quite conservative in what they'll spend money on, according to housewares consumer spending data. Trend-wise, consumers' concern and fears along with their search for security and safety has manifested into soft, muted colors such as blue greens, copper and metallics and conservative, neutral colors such as browns and earth tones. They may give up being daring with color but they don't want to give up interest in style. Following are tea & coffee accessory product and style trends worth making a note of:
* Satin, matte and frost finishes for stainless steel flatware (such as Mikasa Classico Satin Iced Tea Spoons).
* Household storage dips that are not only airtight but also include attached spoons and scoops for easy storage and use.
* Italian-designed stainless steel teakettles in out of the ordinary shapes (i.e. resembling a cube.)
* "Tea Party Mug Charms" that hook onto mug handles akin to the wine glass charms. Charms depict: creamer, sugar bowl, 3-tier dessert plate, teapot, cup and saucer and teabag.
* A juicer that can also grind coffee beans.
* An electric beverage cooler that quickly chills an aluminum can from room temperature to cold drinking temperature in one minute.
* De-lustered or burnished surfaces--whether warm or cold (i.e., elements of women's fashion jewelry also continue to show up in home products).
* A casual mix of practical ceramic "to-go" looks, in cups and top quality thermos mugs.
* Practical superb-quality stoneware pitchers and tea and coffee sets (for instance, Polish Pottery that is hand-formed and hand-decorated using the punch technique, unique to Boleslawiec ceramics.)
* The first kettle that can also filter water (Acclario, from Brita).
* High-quality babyware/toddlerware (Royal Dalton children's tea sets/china plate, bowl and cup, Tracy Porter's children's tea set).
* Artistically hand made purple clay spoons, also called Cha Ze, for display as well as to fetch tea leaves (www.apotoftea.com).
* Elegant silver plated preserve servers and silver plated serving spoons for a more formal approach to teatime (Blue Moon Tea).
* The Italian coffee bar culture influence with matt silver appliances (for example, Adornetto's Retro-design automatico adoro coffee machines and Latissimo Adoro milk steamer).
* Stainless mugs and tumblers in different sizes and shapes with or without handles (for example, WMF Zeno stainless steel and glass tea glass).
Consumer's "Split Personality"
According to the traditional sentiments of some tableware segments, the demand for formal teaware remains strong. Afternoon tea at fine restaurants and hotels remains a British institution, and casual mugs are not likely to displace fine porcelain tea sets at any time in the near future. Yet the British tea industry is confronting emerging casual trends. Shifting market forces have even had an effect on the British tea market where consumers down 185 million cups of tea per day, according to the U.K. Tea Council.
The recent invasion of trendy coffeehouses including Starbucks from the U.S. has threatened the tea market by appealing to younger casual consumers. Whittard of Chelsea, a traditional British tea merchant, has attempted to capitalize on this trend by opening a London tea bar that rivals the trendiest coffeehouse from the U.S. or Europe. The T-bar offers unusual flavors such as Sticky Toffee Pudding, Apple Crumble and Monkey Picked Oolong in blue ceramic mugs, reports the SGCD.
Driving Habits
Hitting the right consumer hot button is what will (more often than not) drive sales. In a culture where it is taken for granted that driving and dining simultaneously are the norm--it's time to also pay attention to what "travel cup" consumers want to pour their coffee into as they walk out the front door for their morning commute--improved to-go cups are just one more category of accessory products to take into account.
Retailers and manufacturers who search for new opportunities created by shifting market trends are likely to prosper in the future.