The Gen Z Home. Lifestyle Trends

Transcription

1 Though many of them might not yet be old enough to purchase a home, the largest and most diverse cohort in history is already shaping the way homes are designed and decorated Lifestyle Trends Ikea The Gen Z Home

2 Overview L ike Millennia ls, Gen Z w ill b e for ced to p a y hig h r ent b efor e they ca n p ur cha se a home, b ut unlike Millennia ls, w hen they d o b uy, they' r e op ting for sma ller, mor e a ffor d a b le homes R a ised in a cultur e of DIY YouTub e v id eos a nd Pinter est b oa r d s, Gen Zer s lov e DIY p r ojects a nd d on' t shy a w a y fr om fixer up p er homes East West Bank Accustomed to the consta nt communica tion a nd insta nt g r a tifica tion of the inter net, Gen Z is keen to co-cr ea te a nd colla b or a te w ith b r a nd s in or d er to ta ilor p r od ucts to their need s As Gen Z d ecor a te their d or m r oom or fir st a p a r tment, they' r e d r a w n to b old colour s a nd p a tter ns tha t ena b le them to exp r ess themselv es a nd cur a te their p er sona l b r a nd Ca teg or ised a s home-b od ies, Gen Z likes to r ela x a t home w ith fr iend s a nd sur f socia l med ia, so sp a ces feel inv iting, infor ma l a nd comfor ta b le Housing Units Huffpost UK

3 Looking Toward the Future Apartment Therapy Accor d ing to a r ep or t b y HotPa d s, Gen Z w ill sp end a n a v er a g e of $ 2 2 6, 000 on r ent b efor e ev er ow ning a home. Per ha p s tha t' s w hy, d esp ite their young a g e, ma ny of Gen Z in the US a lr ea d y ha v e homes on the b r a in. Comp a r ed to Millennia ls, they' r e sp end ing less money on colleg e a nd a lr ea d y sa v ing for r etir ement, a fr ug a lity they lea r ned w hile g r ow ing up in the Gr ea t R ecession. L uckily for Gen Z, histor ica l tr end s lea n tow a r d s a str ong job ma r ket, so ev en thoug h they' ll sp end mor e money on r ent b efor e p ur cha sing a home, Gen Z w ill likely ha v e to r ent for less time, a n a v er a g e of one yea r less tha n their Millennia l counter p a r ts. IKEA

4 DIY Doers HannaCreative Urban While Millennia ls a r e on the hunt for flip p ed houses w ith new fixtur es a nd up d a ted a p p lia nces, Gen Z is a ll a b out a ffor d a b ility. They' r e ha p p y to w or k w ith fixer -up p er s b eca use tha nks to the inter net a nd socia l med ia, home DIY p r ojects ha v e b ecome mor e a ccessib le. " With the p op ula r ity of HGTV a nd DIY v id eos on YouTub e, ther e s mor e of a w illing ness fr om this g ener a tion to ta ke on some of these p r ojects, " sa ys Chr is Por ter, chief d emog r a p her a t John B ur ns R ea l Esta te Consulting. Ha v ing seen their p a r ents lose job s a nd ev en homes d ur ing the Gr ea t R ecession, Gen Z is inclined to p ur cha se a sma ll, mor e a ffor d a b le home. Apartment Therapy

5 Co-Creation & Collaboration IKEA x Virgil Alboh Target IKEA x Virgil Abloh Made.com Gen Z ha s g r ow n up w ith the inter net in their p ockets, so they' r e a ccustomed to using technolog y to not only communica te w ith their fr iend s a nd fa mily, b ut w ith b r a nd s a s w ell. In tur n, sma r t b r a nd s a r e exp er imenting w ith inv olv ing these young consumer s in the d esig n p r ocess thr oug h co-cr ea tion a nd colla b or a tion. F or its colla b or a tion w ith fa shion d esig ner Vir g il Ab loh, IK EA let consumer s p r ev iew the collection so they could exp er ience his p r ocess. Ta r g et g oes one step fur ther w ith its S tud io Connect a p p, w hich lets a p p r oxima tely 6 00 ' memb er s g iv e feed b a ck on p r od uct d ev elop ment in a simp le, Insta g r a m-like inter fa ce. At Ma d e. com' s Ta lent L a b, consumer s ca n v ote on a selection of v a r ious p r od ucts to d eter mine w hich w ill g o into p r od uction a nd b e sold.

6 Everything is Aesthetic Urban Outfitters Tictail Market Urban Outfitters Apartment Therapy Gr ow ing up w ith the r ise a nd p op ula r ity of socia l med ia influencer s, Gen Z is hyp er a w a r e of b r a nd ing a nd a esthetics. Influencer s ha v e b ecome b ea cons of cultur e a nd ta ste, a nd the mor e they sha r e a b out their lifestyles on socia l med ia, the mor e Gen Z consumes. As a r esult of this hig hly cur a ted, socia l med ia lens, Gen Z v a lues b ea uty a nd style in ev er ything they d o a nd consume. Ev er yd a y p r od ucts, fr om d esktop items a nd iphone ca ses, to w r iting utensils a nd technolog y, must b e a esthetica lly p lea sing, a nd a s Gen Z d ecor a tes their d or m r oom a nd fir st a p a r tments, b r a nd s must keep p hotog r a p hy a nd sha r e-a b ility in mind. IKEA

7 Embracing Colour My Domaine Little Big Bell My Domaine The conv er sa tion ov er inter ior s a nd d esig n w ould b e incomp lete w ithout the mention of colour. Ov er the la st few sea sons, Gen Z yellow ha s r ep la ced Millennia l p ink a s the must-ha v e sha d e in r eta il a nd hosp ita lity sp a ces, b ut w hen it comes to home inter ior s, a sma ller d ose of Gen Z yellow is w ha t consumer s p r efer. S till, neon g r a d ients, mixed p a tter s a nd new colour comb ina tions a r e key, a s Gen Z find s its d esig n sense a nd exp er iments w ith self-exp r ession. R ela ted to the ev er -imp or ta nt top ic of sha r e-a b ility, b old colour s a nd sensor ia l textur es not only ca tch the eye in r ea l life, b ut d ig ita lly a s w ell. Amber Interior Design

8 The Staying Home Generaton Ypulse Urban Outfitters Interior Define Dr ink, d r ug s a nd sex? Not for Gen Z. Va r ious p sycholog ica l stud ies r ep or t this cohor t p r efer s ha ng ing out a t home w ith fr iend s a nd fa mily ov er p a r ties a nd illeg a l a ctiv ities. As so much med ia a nd enter ta inment is a v a ila b le to them on their mob ile d ev ices, ther e is little need to hea d to the ma ll or mov ies. In the UK, ' kickb a cks' or ca sua l ha ng outs w ith a sma ll g r oup a t a house ha v e b ecome the nor m. F r iend s b r ow se socia l med ia, ma ke food a nd p la y v id eo g a mes. As a r esult, Gen Z sp a ces a r e ca sua l a nd r ela xed, w ith p lenty of p la ces to loung e a nd consume med ia. Google

9 Tech Natives Kiki Van Eijk for Google Google Art.com Ev en mor e so tha n w ith Millennia ls, tech is eng r a ined into ev er y a sp ect of Gen Z' s liv es, a nd their home is no excep tion. The sma r t home ma r ket is estima ted to r ea ch $ b n b y , a nd this w ill b e in p a r t b e fr om a d op tion b y young er g ener a tions. B ut like other Gen Z p r od ucts, tech must b e b ea utiful, functiona l a nd sea mless. F or exa mp le, Goog le' s new concep t collection w ith Dutch a r tist K iki v a n Eijk show ed how ha r d w a r e ca n b e mor e p er sona lised w ith a soft, ta ctile a nd on-tr end look. Gen Z a lso ha s hi-tech exp ecta tions w hen it comes to p ur cha sing for the home, a nd b ig e-commmer ce p la yer s a r e ta p p ing into their lov e of g a ming w ith ea sy-to-use a ug mented r ea lity shop p ing a p p s. Wayfair

10 Action Points G et t h em i n vo l ved : use socia l med ia to g et Gen Z excited a b out the d esig n of your p r od ucts. Co-cr ea tion help s them ha v e a v ested inter est in the end p r od uct Emb race co l o ur: it' s not only Gen Z yellow ; b old, b r ig ht colour comb ina tions a nd unexp ected p a ir ing s w ill ca p tur e their a ttention a nd keep it Bui l d o ut yo ur DIY ch an n el : if you a r e a b r a nd, d esig ner or r eta iler, b uild a w a y to tea ch Gen Z how to b e cr ea tiv e w ith your p r od ucts. Think p er sona lisa tion, r ep a ir a nd a fter -p ur cha se eng a g ement Cap t ure t h em at h o me: think a b out new w a ys to communica te w ith the ' sta y-a thome' g ener a tion. They' r e on their d ev ices w hile ha ng ing out w ith fr iend s, so b r a instor m new w a ys to cut thr oug h the d istr a ctions Business of Fashion

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