- Shopping for Home Decor - US - April 2014 - Social Media
- Contents
- *Scope and Themes
- What you need to know
- Definition
- Data sources
- Sales data
- Consumer survey data
- Direct marketing creative
- Abbreviations and terms
- Abbreviations
- Terms
What you need to know
Total consumer expenditures on home décor reached $37 billion in 2013 and are expected to rise by 4.5% in 2014 to reach $38.7 billion. Furthermore, spending is expected to grow by 24% between 2013 and 2018 to reach $45.9 billion. The increase is due to many factors such as strengthening housing market, improved consumer confidence, and shifts in the retail landscape including more choices when shopping for home décor items, all of which combine to drive spending.
This report builds on the analysis presented in Mintel’s Shopping for Home Décor – US, April 2012.
Definition
The purpose of this report is to identify behaviors and preferences among consumers when shopping for home décor items. The analysis in this report covers the following categories:
Picture frames
Vases
Decorative bowls
Candlesticks/candleholders
Candles
Diffusers
Wall art
Clocks
Trays
Coasters
Lamps/lighting (table lamps, floor lamps, lanterns)
Mirrors
Collectibles/keepsakes
Sculptures/artwork/figurines
Decorative pillows/throw blankets
Fireplace screens/other screens
Rugs/doormats
Magazine racks
Decorative accessories – rocks, spheres, etc
Decorative baskets
Storage baskets
Fake/silk flowers or plants
Home décor items EXCLUDE paint, wallpaper, window treatments (drapes, blinds, etc), and furniture.
Value figures throughout this report are at rsp (retail selling prices) excluding sales tax unless otherwise stated.
Sales data
The Market Size and Forecast section is based on estimates of expenditures by households and individuals developed by the US Bureau of Economic Analysis as part of their National Income and Program Accounts. Note that the “home décor” category according to the US Bureau of Economic Analysis includes: clocks, lamps, lighting fixtures, and other household decorative items. For the purposes of Mintel’s consumer survey, “home décor” was defined using a more specific list of items (see Definition).
Note: The Bureau of Economic Analysis revised their estimates of this market, based on more comprehensive data that was not available at the time of their original estimation. These estimates are 10-13% higher than those in the previous report, Mintel’s Shopping for Home Décor -US, April 2012.
Consumer survey data
For the purposes of this report, Mintel commissioned exclusive consumer research through GMI to explore consumer attitudes and behaviors toward shopping for home décor. Mintel was responsible for the survey design, data analysis, and reporting. Fieldwork was conducted from Feb. 13-25, 2014, among a sample of 2,000 adults aged 18+ with access to the internet.
Mintel selects survey respondents by gender, age, household income, and region so that they are proportionally representative of the US adult population using the internet. Mintel also slightly over-samples, relative to the population, respondents that are Hispanic or Black to ensure an adequate representation of these groups in our survey results and to allow for more precise parameter estimates from our reported findings. Please note that Mintel’s exclusive surveys are conducted online and in English only. Hispanics who are not online and/or do not speak English are not included in Mintel’s survey results.
While race and Hispanic origin are separate demographic characteristics, Mintel often compares them to each other. Please note that the responses for race (White, Black, Asian, Native American, or other race) will overlap those that also are Hispanic, because Hispanics can be of any race.
Direct marketing creative
All estimated mail volume data and consumer direct mail marketing creatives are provided by Mintel Comperemedia.
Mintel Comperemedia is a searchable competitive database tracking direct mail, print and online advertising in the US and Canada, as well as email in the US Comperemedia tracks information across eight sectors: Banking, Credit Card, Investments, Insurance, Mortgage and Loan, Telecom, Travel and Leisure, Retail and Automotive.
For more information, please contact Account Services Management at 312.450.6353 or www.mintel.com.
Abbreviations
The following is a list of abbreviations used in this report:
| BLS | Bureau of Labor Statistics |
| CDC | Centers for Disease Control and Prevention |
| DIY | Do-it-yourself |
Terms
Generations are discussed within this report, and they are defined as:
| World War II/ Swing generation | Members of the WWII generation were born in 1932 or before and are aged 82 or older in 2014. Members of the Swing Generation were born between 1933 and 1945 and are aged 69-81 in 2014. |
| Baby Boomers | The generation born between 1946 and 1964. In 2014, Baby Boomers are between the ages of 50 and 68. |
| Generation X | The generation born between 1965 and 1976. In 2014, Gen Xers are between the ages of 38 and 49. |
| Millennials* | The generation born between 1977 and 1994. In 2014, Millennials are between the ages of 20 and 37. |
| iGeneration | The generation born between 1995 and 2007. In 2014, iGens are between the ages of 7 and 19. |
| Emerging generation | The newest generation began in 2008 as the annual number of births declined sharply with the recession. In 2014 members of this as-yet unnamed generation are younger than age 7. |
* also known as Generation Y or Echo Boomers
In order to provide an inflation-adjusted price value for markets, Mintel uses the CPI to deflate current prices. The CPI is defined as follows:
| CPI | The Consumer Price Index is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. The CPI and its components are typically used to adjust other economic series for price changes and to translate these series into inflation-free dollars. Examples of series adjusted by the CPI include retail sales, hourly and weekly earnings, and components of the national income and product accounts. In addition, and in Mintel reports, the CPI is used as a deflator of the value of the consumer’s dollar to find its purchasing power. The purchasing power of the consumer’s dollar measures the change in the value to the consumer of goods and services that a dollar will buy at different dates. The CPI is generally the best measure for adjusting payments to consumers when the intent is to allow consumers to purchase, at today’s prices, a market basket of goods and services equivalent to one that they could purchase in an earlier period. It is also the best measure to use to translate retail sales into real or inflation-free dollars. Based on Bureau of Labor Statistics definition. |
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