IHA Offers Deep-Dive Into Key Consumer Lifestyle Trends and How Product Developers, Retailers Can Leverage Them in Coming Months

Six-webinar series features newly created IHA Market Watch report – and highlights shifts in light of Covid-19

ROSEMONT, IL (July 6, 2020) – Housewares product developers or retailers looking for guidance on where to focus critical resources in the coming months and years can find some insights in a new webinar series from the International Housewares Association. The complimentary, six-part series, which runs Tuesday and Thursdays July 9-28 and features the newly created IHA Market Watch report, offers a deep-dive into each of five key consumer lifestyle trends, highlights shifts in light of the Covid-19 pandemic and includes implications for both suppliers and retailers.

In creating the report, IHA collaborated with The NPD Group, Springboard Futures and Cadent Consulting to identify five macro consumer lifestyle trends that are shaping how, what and where home and housewares products are being purchased. The goal was to replace the Association’s annual State of the Industry Report with a new report that helps the industry look to the future in the context of consumers’ changing needs and aspirations.

“Just as with the re-positioning of The Inspired Home Show, the new IHA Market Watch report is about creating an annual industry resource that aligns with consumer needs shifting from functional home design to aspirational lifestyle development,” said Derek Miller, IHA president.

Presenters in each webinar will be: Leana Salamah, IHA vice president, marketing; Joe Derochowski, vice president and home industry advisor for The NPD Group; and Tom Mirabile, principal and founder of Springboard Futures. Peter Giannetti, editor-in-chief of HomeWorld Business, will serve as moderator.

Each of the first five webinars will include a general discussion of one macro trend, examine subtle shifts since the pandemic hit and include potential next steps. The final webinar will wrap up all the trends and look to the future. The schedule is:

  • Thursday, July 9, 1 p.m. CDT. Macro trend – Time. Register here.
  • Tuesday, July 14, 2:30 p.m. CDT. Macro trend – Space. Register here.
  • Thursday, July 16, 1 p.m. CDT. Macro trend – Experience. Register here.
  • Tuesday, July 21, 1 p.m. CDT. Macro trend – Wellness. Register here.
  • Thursday, July 23, 1 p.m. CDT. Macro trend – Responsibility. Register here.
  • Tuesday, July 28, 1 p.m. CDT. Trend Wrap Up and Look Ahead. Register here.

 

The inaugural IHA Market Watch report was originally slated to be unveiled in a keynote at The Inspired Home Show in March.

“When the pandemic hit, we decided to hold off on doing a big roll-out of the report and take some time to let things play out and see how consumers reacted,” said Salamah. “Now that we have data three months in, we are confident the macro trends themselves have not changed. The difference is in the details.”

Using a concept developed by Springboard Futures, each trend in the IHA Market Watch report was originally evaluated against six criteria and given a score of 1-10 in each area. The result is a map that depicts the trend’s overall viability and its relative strengths and weaknesses. In the webinar series, presenters will use a visual overlay of a new map that depicts how each trend has shifted three months into the pandemic.

“The benefit of doing a multi-part series is we have some time to really take a deep-dive into each of the five key consumer trends,” Salamah explained. “And most importantly, we can flesh out some specific ways retailers and suppliers can respond to each trend.”

The webinars are free, but registration is required. Participants are encouraged to attend each one but are welcome to attend as they are able. The webinars will be posted on the Show website, TheInspiredHomeShow.com after each is broadcast.

To download a complimentary copy of the 2020 IHA Market Watch Report, go to https://www.theinspiredhomeshow.com/downloads/marketwatch-2020/

The IHA Market Watch series is an extension of education sessions planned for The Inspired Home Show that IHA is now presenting as free webinars for the industry. Tom Mirabile’s keynote, Innovation Theater sessions and Smart Talks programs are already posted on the Show’s website at TheInspiredHomeShow.com/education and can be viewed at any time. A schedule of upcoming webinars is available on the Show website homepage at TheInspiredHomeShow.com.

In addition to the educational sessions, photo galleries for the New Product Showcase, Trending Today Preview, Inventors’ Corner exhibitors and the IHA Global Innovation Awards for Product Design are posted on TheInspiredHomeShow.com. To learn about new products that were to be at the Show, visit the Show’s online directory, Housewares Connect 365 at Housewares.org/housewaresconnect365, and select “Featured New Products for Media & Buyers.”

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