The home has taken on new significance in the face of COVID-19, and products and services across a wide range of categories have come into demand…
COVID-19 has disrupted major young consumer behaviors, with one of the biggest shifts being where they spend their time. Government-mandated lockdowns came quickly after the Coronavirus crisis took over the news, confining the majority of young people to their homes. Almost six months later, this is still the case: in early August, 81% of 13-39-year-olds tell YPulse they are self-quarantining. Many wondered if being forced to stay in had shifted young peoples’ feelings and perception of the home in a negative light—but YPulse’s recently released trend report, No Place Like Home, has found the opposite is true.
It’s no secret that Gen Z and Millennials were homebodies, even before the Coronavirus crisis hit. Between existential crises like climate change, the 2008 recession, crushing student debt, and constant life milestone obstacles, both generations have grown up in a constant state of anxiety and, in turn, a desire to shield themselves from the stresses of the outside world. Their home was their shelter from the storm—and now, in the face of COVID-19, that is truer than ever. More than seven in ten 13-39-year-olds agreed with the statement: “My home has been an important part of maintaining my mental health during COVID-19.” With the majority of young people still self-quarantining and their increased focus of the home as a source of comfort during this time, the desire to nest and invest in their personal space has increased rapidly. Close to four in five young consumers tell YPulse they’re trying to make their homes a nicer place to spend time and 61% have become more interested in decorating/furnishing their homes. At-home clothing, entertainment, fitness equipment, and yard supplies are a just a few of the items young consumers tell YPulse they have purchased because of COVID-19 or are interested in purchasing now. It is clear that they are evolving their homes to fit their current needs, and YPulse has found that brands across a wide range of categories have an opportunity to help them fulfill their household desires.
The No Place Like Home trend report dives into Gen Z and Millennials’ relationship with their homes now and in the future, exploring how they view their current spaces, what they ultimately want out of their homes, the purchases they’re making to make it all a reality, and more. Check out the No Place Like Home trend report and the infographic preview below: