The International Housewares Association has teamed up with Tom Mirabile, IHA trend forecaster and principal and founder of Springboard Futures, to share highlights from what would have been Mirabile’s keynote address at the cancelled 2020 Inspired Home Show.
As part of his keynote address, Mirabile was slated to discuss insights into why today’s consumer landscape is so complex. Mirabile suggested it is due to the fact that there are four distinctly different generations with totally different desires and expectations making significant impacts: Boomers, Generation X, Millennials and Generation Z.
However, he suggested that while generational lifestyle statistics can deliver important insights, the best strategies are rooted in a commitment to stay tethered to one or more fundamental consumer realities and aspirations.
“It’s crucial to keep these universal trends in mind, because while intangible, they consistently drive consumer demand, regardless of generation or socio-economic status,” he said.
Mirabile’s presentation can now be found in its entirety on the homepage at TheInspiredHomeShow.com.
In addition to releasing details of the keynote speech, Mirabile also shared his thoughts on the affects that the COVID-19 pandemic might have on the housewares industry.
“I think we’re really going to see who’s got good lemonade recipes,” said Mirabile, alluding to the proverbial advice of turning lemons into lemonade. “And for those who really watch and listen to consumers, there are going to be some incredible new opportunities.”
Further, Mirabile predicts the pandemic will propel the already-developing virtual office trend and consumers’ ability to work from home, as well as the enhanced need for products that help monitor and care for health from home. Any home products that help enhance consumers’ feelings of comfort and security should also fare well.
“Home has assumed many identities over the past few decades; it has been a showplace and a social hub, a cocoon and a creative studio,” he said. “It’s played the role of office space and marketplace. It’s lived through ‘own your own,’ ‘grow your own,’ ‘make your own’ and ‘sell your own.’ Next up: Home as Family Fortress.”