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The Home Hub: New Living Dynamics

Feb. 28, 2019

The Home Hub: New Living Dynamics

Our relationship to the concept of home is changing, and so is what we do in this space and why. This articles explores how living scenarios and home habits are evolving

·   Long-term research shows we are gradually spending more time at home. Americans spent an extra eight days at home in 2012 compared to 2003, with 18 to 24-year-olds spending 70% more time at home than the rest of the population

·   Enabled by technology and flexible work, and looking to control spending, consumers are increasingly bringing out-of-home activities into the home

·   Pioneered by Millennials and adopted by other cohorts, this homebody mentality is in turn impacting what we buy for the home and how we want it to look and feel

·   While much of this trend is driven by convenience and ease, homemaking and craft are also growing in importance

·   Outside of the home, public spaces continue to soften and become more homelike in order to welcome customers and put them at ease.

·   Neighbourhood and community services are being designed to aid interaction and relationship-building

Faced with an increasingly uncertain outside world – economically and environmentally – consumers around the world are choosing to stay at home.

In the US, consumers eat four out of five meals at home, and are increasingly drinking at home rather than heading out.

As we spend more time in the home and broadcasting from it, thanks to smartphones and home assistants, we’re also spending more money on it. The home industry is set to grow at a CAGR of 5.5% to 2021, led by home decor and furniture. For brands that aren't currently active in the home space, this presents a significant expansion opportunity. For brands that already specialise in home, it's time to double down on understanding what people want and need from this most important of spaces.

From Working to Nesting

Today's home is under pressure to be more flexible than ever, taking on multiple roles and functions throughout the day.

70% of people globally now work remotely at least once a week, and 53% work remotely for at least half the week, according to research from IWG; and plenty of them are staying home to do so. This makes the home office a key space, but consumers also choose to work more cosily, curled up on the sofa or checking emails in bed, creating new demand for items such as back pillows. Versatility is key. Good Thing's furniture collection for working from home includes cantilever tables that pull up easily to sofas to create mobile desks or snack stations.

Both working and nesting will be boosted as 5G enters the home. According to Intel, 5G connectivity will accelerate content consumption, including home broadband and TV, and will unleash the full potential of AR, VR and new media. Intel places the tipping point for the technology at 2025, so invest in a comfy sofa now.

The Home on Show: Style & Entertaining

As consumers spend more time at home, they're putting more time and effort into showing it off, sprucing it up and making it feel like 'them'.

Dovetailing with the rise of Instagram, daring colors and maximalist trends have led interiors over the past few years, as homemakers have adopted a playful decorating mentality. From patterned wallpaper to velvet chairs, decor is expected to carry meaning and express personality.

Consumers who are choosing to dine or drink at home rather than go out are often doing so in style. Curated home bars bring some of the experience of a night out to the home, while dining decor has embraced glam looks such as iridescence. As well as shining on social media feeds, these trends feed into hosting expectations. According to GFK, a quarter of consumers entertain at home daily or weekly, and a third monthly.

As consumers earn extra income by renting out properties part-time on platforms such as Airbnb, home style and Instagram-mability matter more.

At Home Everywhere

As the feeling of home becomes more valuable to consumers, public spaces will continue to soften, taking on designs and amenities inspired by the comforts and conveniences of home.

Co-working spaces are taking on amenities that make them more welcoming to all. In New York, The Wing's new childcare programme, The Little Wing, has a homelike feel with playful, not-too-neat decor.

Is your home ready to respond to the coming trends? At AEI US Studio we can help you.

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Article taken from: WGSN

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