Dwell Insights Group - 2013 Furniture Brand Score Card: New Affluents and Trade

2013 Furniture Brand Value Scorecard Dual Market: New Affluents and Trade

©Dwell Media, LLC, 2013. Proprietary and Confidential property of Dwell Media LLC, provided under license only. No further distribution permitted. All rights reserved.

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2014 Outlook:

Americans Due to Replace Oldest Goods Since JFK

Americans have been holding on to their wobbly washing machines and sagging

sofas even longer than their grandparents did 50 years ago, setting the stage for a

rebound in consumer spending as old household goods wear out.

The average age of consumer durable goods -- long-lasting items such as furniture,

appliances and computers -- is the highest since 1962, according to data from the

Bureau of Economic Analysis dating to 1925.

Americans Due to Replace Oldest Â Goods Since JFK

Bloomberg

By Michelle Jamrisko - Dec 3, 2013

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2013 Furniture Brand Value Scorecard

Research Objectives

RESEARCH GOALS

• Benchmark brand awareness, brand perceptions, brand affinity, perceived positioning and competitive set

among affluent consumers and trade pros

• Identify and prioritize brand/company and product features, attributes among affluent consumers and trade pros

• Identify “design leaders” in the furniture manufacturer category (i.e., residential)

• Explore current furniture trends likes/dislikes

• Explore personal design style

PRIMARY TARGET MARKET PROFILE

• Design Pros (i.e., Interior Designers, Decorators, Architects who specify furniture for RESIDENTIAL clients)

• Consumers/New Affluents (Minimum HHI $ 100K)

Furniture Brand Value Scorecard 2013

Consumer/New Affluent Survey

Methodology

Target Sample:

• Inside Dwell Panel. U.S. Residents Ages 18+, Home-owners,

HHI $100K+, Not Employed in a Trade Profession

Field Dates:

• September 3 – September 15, 2013

Response Rates:

• Panelists Invited: 1,590

• Panelists Responding: 416

Survey Methodology:

• Online Survey

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American Leather

Arhaus

Artek

B&B Italia

Baker

Bd Barcelona

Bernhardt Design

Bernhardt Furniture Co.

Blu Dot, USA

BoConcept

Bontempi Casa

Calligaris USA

Calvin Klein

Capellini

Carl Hansen

Casana

Cassina/Poltrana Frau

CB2, USA

Century Furniture

Coalesse

Copeland Furniture

Crate & Barrel, USA

Earl Nesbitt

Emeco

Ethan Allen

Fendi Casa

Flexform

Flou

Fritz Hansen

Hastens- Beds

Henredon Furniture

Herman Miller

Highland House/Hickory Chair

Holly Hunt, USA

Hurtado

Ikea

Jules Seltzer

Kartell

Knoll

Lee Industries

Lema

Ligne Roset

Minotti

Mitchell Gold + Bob Williams

Modernica

Molteni/Dada

Moooi

Moroso

Natuzzi

Poliform

Ralph Lauren Home

Ralph Pucci

Resource Furniture

Robb & Stucky

Roche Bobois

Room & Board, USA

Soho Concepts

Stickley

Stua

Vitra

Zanotta

Williams Sonoma Home

West Elm

Brand List

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About New Affluents

Design conscious in all aspects of life

Technophiles

Lead active, busy lives, seek simplicity

Financially secure, but discerning consumers, cost and value conscious

Self-directed, influencers, opinion leaders

Prefer understated affluence, social status unimportant, style is unfussy

Environmentally conscious

Forefront of trends and shifts in attitudes, behaviors among affluent consumers

New Affluents

Design Centric, Tech-Savvy, Self Directed

Top 2 Box Agreement (Completely Agree/Strongly Agree)

Q. Tell us, how much do you agree with each of the statements about furniture listed below?

Base: Total Respondents, n=416

86% 82% 80% 76%

33%

11%

I take careful note ofhow furniture is

designed

I always take notice of the furniture in other

people’s homes

I consider my homefurniture to be an

important expressionof my sense of selfand personal style

I will pay more forfurniture that is of

high quality and welldesigned

I think furniture isgenerally overpriced

I find shopping forfurniture tedious

Eight in Ten Consider Furniture to be an Important

Expression of Sense of Self and Personal Style

Past Purchase/Purchase Plans

Q. Which of the following describe your household’s purchase activity for furniture (e.g., couches, chairs, tables, bedroom furniture, home office)? Select all that apply.


60%

39%

20% 16%

Purchased or acquiredin the past 12 months

Plan to purchase oracquire in the next 12

months

Plan to purchase oracquire in 1-2 years

Might purchase oracquire in more than 2

years

Substantial Furniture Purchase Activity for the Past 12 Months

Sixty percent (60%) Purchased Some Type of Furniture

Q. Which of these words best describes the style/lifestyle you believe your home furniture and furnishings convey?


BONUS

Furniture – Lifestyle Descriptors

Simplicity 46%

Sophistication 27%

Utility 13%

Beauty 10%

Luxury 3%

Affluence 1%

New Affluent Home-owners Seek Simplicity and

Sophistication From Their Home Furnishings

Highly Influential Product Attributes

Q. When thinking about purchasing furniture for your home, how influential are these product attributes in your decision-making process?


90%

88%

87%

81%

78%

73%

69%

56%

47%

32%

17%

16%

15%

14%

12%

9%

Overall quality

Aesthetic design

Functional design

Comfort

Durability

Product longevity, built to last

Performance

Value

Timeless/Classic Style

Innovation (e.g. in materials, production, designs)

Humanely manufactured (i.e. fair trade, labor, safety)

Sustainably made (e.g., energy use, eco-friendly adhesives,…

The brand or manufacturer

Manufacturer’s designers

Where it’s made (i.e., country, state)

Trending/”Fashion Forward”

New Affluents Look for Products with Quality,

Design, Comfort that Are Durable and Built to Last

Highly Influential Brand/Company Attributes

Q. When purchasing furniture, how influential are these attributes about the furniture company or furniture brand in your decision-making process?


72%

59%

45%

43%

42%

36%

29%

27%

19%

16%

11%

8%

7%

4%

3%

Reputation for quality and product performance

Offers a range of colors, materials, features, styles

Superior customer service

Integrity

Innovative

Offers products in a range of price points

Known for design leadership

Availability or delivery time

Sustainable manufacturing process

Dedication to environmental issues

Industry leadership

Corporate history, heritage

Luxury or premium brand image

Community outreach, charitable giving

Awards won and industry achievement

Quality Leads, but New Affluents Also Look for Brands

Offering Variety and Superior Customer Service

Dwell Insights Group 2013 New Face of Affluence, Reframing the Business of Design 13

Thoughtful Aesthetically pleasing and fully

functional at the same time

Beautiful to look at and

easy to use

Clean and simple

Beautiful to the eye and touch.

Good design improves

the quality of my life

By affecting my sense of

taste, touch, scent, sight,

and hearing

Design that is both functional

and beautiful that does not

clutter my space or my mind

Designed to make living easier,

more efficient, and pleasing

Easy to use, durable,

visually appealing,

attention to auditory and

tactile values

Enduring

Emotional impact

For me good design has

a wow factor

Good design means

pleasing to the senses

What Good Design Means…

Functional, Aesthetic, Emotional


Q. Which trends in the furniture category are you aware of that you really like and why?


Furniture Category “Likes”


Q. Which trends in the furniture category are you aware of that you dislike and why?


Furniture Category “Dislikes”

65%

46%

33%

14% 9% 8% 6%

Noticed an adthat interested

me

Talked about abrand with others

Recommended acompany/brand

to others forpurchase

Participated in apromotion or

contest

Connected withvia social media(e.g. follow on

Facebook,Twitter)

Attended anevent

Posted a reviewonline

Furniture Brand-Related Actions, Past Three Months

Q. Thinking about the last three months, have you done any of the following specifically related to furniture brands/companies?


Net Any Action: 80%

Noticed an Ad

73% for $300k+

HHI

Nearly Two-thirds of Respondents Noticed

Furniture Ads that Interested Them;

Just Under Half Talked About a Brand With Others

About the Brands

41%

24%

20%

15% 15% 14% 13% 12%

7% 6%

HermanMiller

Knoll LigneRoset

Blu Dot,USA

B&B Italia Room &Board,

USA

Ikea RocheBobois

Vitra Modernica

Top 10 Design Brands

Q. Which of these brands of furniture brand/company listed below would you say best exemplify design leadership in the furniture category? Select up to three.


Rank #1 #2 #3 #4 #5 #6 #7 #8 #9 #10

Top Ten – Design Leadership

According to New Affluents

Furniture Brand Value Scorecard

Trade Survey Topline

Furniture Brand Value Scorecard

Trade Survey

Methodology

Target Sample:

• Inside Dwell Panel. Trade Professionals who

Specify Furniture for Residential Clients

Field Dates:

• September 9 – September 20, 2013

Response Rates:

• Panelists Invited: 1,632

• Panelists Responding: 414

• Panelists Qualified: 123

Survey Methodology:

• Online Survey

Value of Furniture Purchased for Clients, Past 12 Months

Q. Thinking of the furniture you have specified or purchased for residential clients in the past 12 months, what do you estimate the total value/spending was? Give us your best ballpark estimate.

Base: Total Trade Respondents Answering, n=60

30%

25%

10%

17% 18%

0%

5%

10%

15%

20%

25%

30%

35%

Under $20K $20K-$49K $50K-$99K $100K-$199K $200K+

Mean Value: $166K Median Value: $35K

One-third of Trade Sample Spent $100K or

More Last Year on Furniture for Clients

49%

25% 22%

18%

13% 13% 12% 11% 8% 8%

HermanMiller

Knoll B&B Italia Ligne Roset RocheBobois

Vitra Ikea Blu Dot, USA Kartell Room &Board, USA

Top 10 Design Brands According to Trade Professionals

Q. Which of these brands of furniture brand/company listed below would you say best exemplify design leadership in the furniture category? Select up to three.

Base: Total Trade Respondents, n=123

Rank #1 #2 #3 #4 #5 #6 #7 #8 #9 #10

Top 10 Design Brands Selected By Trade Professionals

Thank you!

©Dwell Media, LLC, 2014. Proprietary and Confidential property of Dwell Media LLC, provided under license only. No further distribution permitted. All rights reserved.

For more information, contact: DIG Director, Michele Gerus at [email protected]

Dwell Insights Group - 2013 Furniture Brand Score Card: New Affluents and Trade

Data & Analytics

Transcript of Dwell Insights Group - 2013 Furniture Brand Score Card: New Affluents and Trade