Home Decor Is Going Digital For Millennial Homeowners

Millennial research, Millennial insight, Millennial marketing, Gen Z research, Gen Z marketing, Gen Z insight, youth research, youth marketing

Yes, Millennials are buying homes. But they’re rethinking the way they decorate their space, and digital-first startups like Clare are ready to help…

Marketing for home goods brands is more important than ever as Millennials increasingly fly the coop. That’s right. We’ve told you that Millennials aren’t just living in their parent’s basements or spending all their money on avocado toast. Instead, thanks to the generation that’s growing up and learning how to adult, the homeownership rate for 2017 was up for the first time in 14 years, according to the Wall Street Journal, with households headed by someone under-35-years-old seeing the highest uptick. And if that’s not convincing enough, just take it from Trulia’s chief economist: “This is happening because young households are buying homes. Full stop.”

As more young people move into their own homes, the home decor industry is seeing a boost—in fact, we found in our Home Sweet Home trend that Millennial homeowners looking to deck out their spaces spent an average of over $10,000 on home furnishings in the past year. How can companies make sure they get a piece of that? One way new brands are setting themselves apart is by taking the now-well-trod path forged by Warby Parker. It feels like there’s a direct-to-consumer option for almost every industry now, and home decor is getting its own digital spin. While kitchenware has seen a slew of new startups arise to fill this niche—Curbed reports that Material, Made In, Misen, and more all hope to become the “Warby Parker for the kitchen.” But even the traditionally in-store ritual of shopping for paint is getting the direct-to-consumer treatment.  

While paint has a few major players taking most of the market (think: Benjamin Moore and Sherwin Williams), startup Clare could break in with…

 
 

Want to talk to us about the article
or dive into a custom study?


The Newsfeed

Quote of the Day: “My biggest mistake was that in my financial beginnings I did not seek help from an advisor and I did very badly with my investments, but later I was able to recover.”—Male, 33, NY

The Museum of Ice Cream and Sephora are coming together for a sweet collab. Popsicle-shaped lip glosses, sprinkle-filled brushes, and more Instagrammable products are available for a limited time. Collaborations seem to be the MOIC’s latest move to rake in revenue (they also teamed up with Target), and this one makes sense: young consumers are indulging their “treat yo self” moments with makeup, and similar products like Too Faced’s peach and chocolate-themed collections are flying off shelves. (Cosmopolitan)

Sony is debuting their own ode to retro gaming: the PlayStation Classic. Millennial geeks everywhere, rejoice. The tiny console (with mini controllers to match) will include 20 fan favorite games like Final Fantasy VII and Tekken 3. The question isn’t why Sony is doing this, it’s why more companies aren’t doing this after seeing Nintendo’s runaway success with the SNES and NES Classic. Consoles will come to shelves in early December, right in time for the holidays. (TechCrunch)

The next Netflix movie could premiere on IMAX. And It’s not just Netflix: IMAX’s CEO said “all of the streaming” giants are “in active discussions” to bring their movies to the big screen. Streaming services have shaken up Hollywood by premiering big-budget movies with A-list actors on small screens, betting that young viewers prefer their couches to theaters. But while staying in is the new going out for many Millennials, their love of experiences is also bringing back the box office. (THRThe Verge)

Some wealthy Millennials are becoming social justice warriors to make an impact with their extra resources. Members of Resource Generation give 16 times more than they did before joining up, and together they’ve raised $120,000 for an affordable housing organization, donated $135,000 to the Social Justice Fund Northwest, and much more. In our Topline on the topic, 88% of 13-35-year-olds said they think they can make a difference by getting involved. (Business Insider)

Chinese Millennials and Gen Z are turning their attention from livestreaming to short video clips. Douyin, a short video app known as TikTok in the U.S., has over 500 million monthly active users globally. It was even the world’s most-downloaded app for the first half of 2018, according to Sensor Tower, and its rival Kuaishou is racking up users too. Meanwhile, users and stock are dropping for livestreaming platforms—with the exception of esports. (CNBC)

Quote of the Day: “I once spent $30,000 in one year solely on fun things (entertainment, traveling, dining out, etc.).”—Female, 21, PA

Sign Up Now

Subscribe for premium access to our content, data, and tools.

Already a subscriber? Sign in.

Upgrade Now

Upgrade for full access to the best marketing tools for understanding the next generation.

View our Client Case Studies