Electronic hearthside = opportunity for industry
By Kim Shaver -- Furniture Today, March 10, 2002
"It was a day that changed everything forever in America."
How many times have we heard that statement in reference to Sept. 11? After the initial shock, most of us did some serious thinking about our priorities, about what is really important in life. As a result, something profoundly important to our industry has taken place in a relatively short period of time: The American home is being redefined.
According to a post 9/11 survey of 1,000 women, nearly 80% say that home is more important to them now than ever before. As Americans seek healing, comfort, strength and connection with loved ones, where will all this happen? In our most intimate surroundings, the home.
As people look homeward, the home environment is taking on three major identities:
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Home as comfort center. Consumers are seeking physical and emotional comfort, simplicity and serenity. They will embrace styles, colors, fabrics, leathers and woods that bring this simple comfort.
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Home as command central. Even before 9/11, about 60 million Americans did some amount of income-producing work at home. Now, the trend toward tele-work will escalate. Recent layoffs will spur entrepreneurial activity that will start at home. This is a mandate for merchants to ramp up their promotion and display of home office furniture that helps consumers get things done in an organized, efficient way.
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Home as connection point. Just as home is a place for getting important things done, it increasingly will become the center for play and escape from stress. How do you escape stress and connect with those you love at the same time? Through the "electronic hearthside." Look for the home theater and home entertainment furniture category to heat up.
According to the International Council of Shopping Centers, sales of music, video and home entertainment products were up 11% during the 2001 holiday season. "People are staying home more. They're really trying to make sure their homes are more enjoyable places to be," said the council's Patrice Selleck.
Never have the words "home" and "entertainment" gone so well together — because consumers are actually less likely to spend money on out-of-the-home entertainment, according to a post 9/11 survey by the Consumer Electronics Assn.
That survey found that Americans want to entertain in the more intimate home environment. This will benefit not only the home entertainment furniture category, but dining room, game tables, family room furniture and other furniture that helps people connect at home.
As events continue to unfold in the war on terrorism, Americans will continue to turn to their televisions. As they do, they're noticing their TV needs upgrading. All consumers have to do is go shopping one time to get excited about the latest and greatest TV technology, DVD players and the like. And we all know that a new TV or electronics purchase gives great opportunity for a furniture purchase.
Electronics make up only part of the electronic hearthside. It is the furniture that makes the hearthside. Furniture creates the warm, beautiful environment that promotes the intimacy and family connection consumers are looking for.
It is up to furniture manufacturers, marketers and retailers, working together, to help consumers create the electronic hearthside they want.
As an industry, it is time to turn our creative energies toward the home entertainment category with innovative promotions, advertising, display and sales training. This will more than simply capitalize on the electronic hearthside opportunity. As we help consumers create warm home entertainment environments, we'll help them live out their new priorities.
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