Nationally, 13% of surveyed consumers are ready to buy a luxury home and another 26% are considering a high-end home purchase, according to a new survey from Realtor.com. Sellers, builders, and realtors should pay particular attention to desired luxury amenities such as chef-quality kitchens, as 54% of luxury buyers indicated a chef's kitchen as an important feature.
Author: Shannon Bryant
Teen spending is beginning to improve following a period of decline. According to new research from Piper Jaffray, teen spending contracted just 1% from the Fall of 2013, compared to more substantial declines previously. Across both the upper and average income groups, teen male spending is up 4% from Fall 2013. This compares to continued
America’s seniors have historically been late adopters to the world of technology, but their movement into digital life continues to deepen. Two different groups of older Americans emerging, according to new research. These divisions are noteworthy—particularly for the many organizations and individual caregivers who serve the older adult population.
Nearly three-quarters (72%) of consumers consistently recycle in the home, but despite a genuine concern for the environment, only about half do so in rooms beyond the kitchen. Barriers to expanding recycling in the home include the lack of room-specific recycling bins and clear product labeling. Children and Hispanic consumers are more steadfast than the general public in their commitment to recycling.
The musical instruments market is expected to continue growing steadily, due in part to the increasing disposable income of consumers. Another key factor in market growth is the rise in online retailing, which increases consumers' accessibility to a variety of instruments. Analysts forecast the Global Musical Instruments market to grow at a CAGR of 2.64% through 2016.
Many homeowners will be looking to create dream spaces with paint this spring. According to a new National Home Design and Color Survey from Sherwin-Williams, seven-in-10 homeowners plan to undertake a house-related project in the next six months. Of those homeowners planning house projects, painting tops the list with 42% wanting to liven up their space with color, followed by landscaping (39%) and redecorating (30%).
Restaurants are shifting their business practices to introduce a greater number and wider variety of claims that reflect trending food concerns. According to Mintel Menu Insights, while the use of the term “organic” has declined, claims like “gluten free” are appearing more frequently on restaurant menus, posting a 200% increase between Q4 2010–13. And as operators try to signal that their offerings are unique, “signature” as an ingredient marketing claim grew 34%.
Airline passengers might be taking a closer look at the SkyMall magazine in the seat pocket in front of them, as more airlines add mobile payment options. More than a third (36%) of airlines plan to accept mobile payments on-board flights within the next two years, according to a new survey. Airlines expect mobile payment options to create extra revenue as more passengers pay for a flight, buy an upgrade, buy in-flight goods, etc.
Mobile devices and their ability to connect wirelessly have helped drive interest and awareness of home automation products and services. Among smartphone and tablet owners, 62% of consumers say they are “extremely or somewhat interested” in purchasing home automation products. More affordable options are also attracting a new market of younger, middle-class consumers, some of whom rent their primary residence.
Companies are missing the mark when it comes to engaging and catering to the needs of the aging consumer. Marketers need to bolster efforts to better reach and cater to an aging demographic, such as using larger fonts on product labels and signage, and merchandising age-related products in one place and at arm’s length for easier accessibility.
More Americans plan to travel with family this year than last. Of those taking family trips, 55% will travel with their spouse and children, and 20% will travel with extended family, according to a recent study by TripAdvisor. July is the most popular month for family trips. Sixty-six percent of family travelers will hit the beach, while 46% will visit the city and 33% will make their way to a national park.
Mothers are active seekers of coupons and other money-saving offers, and use multiple channels to access coupons. Many use smartphones to access coupons, compare prices and compose shopping lists that immunize them from pricey impulse purchases. And while mothers are often indifferent to the boasts of a brand or store, they do welcome—and seek—marketers’ offers of money-saving deals, particularly on social media.