Luxury Goods For The Home—Consumers Seek Personal Touches and Other Key Insights
As the U.S. economy reboots and consumers return to pre-pandemic shopping habits, retailers across all categories are anticipating their most successful Q4 in years. Luxury home goods are one area in which consumers are planning to spend as we head into 2022.
Retailers who understand these customers, what they plan to buy, and what they consider important during the purchase cycle will set themselves apart from the competition.
As retailers prepare for a busy holiday season, our recent survey of luxury home goods buyers has revealed some key areas to consider.
Profile of Consumers Purchasing Luxury Goods for the Home
As noted, knowing a little bit about the people who purchase luxury home goods can inform your marketing and sales strategies:
- 65% fall between the ages of 40 and 69 and skew more heavily female (67% women vs. 33% men)
- Consumers are in tune with familiar luxury goods brands — across all luxury home goods categories, 69% say “carries the brands I want” is most important in determining where they make a purchase, followed closely by 68% who say selection is important.
- Luxury home goods shoppers are as likely to have shopped brick-and-mortar stores (73%) as they are online (68%) in the past year across luxury home good categories
Pro Tip: Build brand awareness with your target consumers via the channels they engage with most throughout the year. Brand-tracking studies assess your brand value and marketing strategy to ensure they resonate with your target consumer over time. This keeps your luxury home goods brand top of mind when ready to purchase.
The Holiday Season’s Most Popular Luxury Goods for the Home:
Most retailers rely on this final shopping period of the year to hit sales and revenue goals, so knowing what luxury home goods buyers are looking for is key. Among the top home luxury goods purchased:
- 72% purchased luxury linens, priced $200 or more, in the last 12 months
- 37% bought luxury fixtures, priced $500 or more
How Consumers of Luxury Goods for the Home Plan Purchases
Once you understand what your consumers are looking for, understanding their buyer’s journey or how they look for your goods or the luxury home goods brands they seek should be a fundamental part of your marketing plan and strategy.
- Luxury home goods shoppers are most likely to research, compare prices and read reviews online, as well as browse in-store and compare product features before making their purchase
Building Personal Relationships With Luxury Home Goods Consumers Pays Off
One of the key findings of the study is that consumers want to build a personal connection or, at the very least, have a personalized shopping experience.
- To start, foster personal connections between shoppers and customer service — about a third (34%) talk with a sales associate before making their purchase, while half (52%) say excellent customer service is important in determining where they make a purchase
- When it comes to engaging with customer service, 66% of luxury home goods shoppers would rather talk to someone in-store (vs. online or by phone)
- Luxury home goods retailers should consider offering personal shoppers, as most consumers favor the idea and consider it a premium service
Are You Prepared for Luxury Home Goods Shoppers This Season?
Our full study includes even more valuable information regarding luxury home goods shoppers and can help you prepare for the upcoming holiday season as well as 2022. Given the desire to research, compare, and then buy, engaging an omnichannel strategy that leverages our research can help you stand out from the crowd and ring in the new year in the black.
Download the full study here or schedule a meeting with our team today!