NPD: Formal Dinnerware Attracts Broad Range Of Consumers
Friday October 5th, 2012 - 10:43AM
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According to research by the NPD Group, demand for solid color dinnerware is growing, up 5% this year versus last. The market research firm noted that premium-priced products are outpacing the rest of a soft tabletop market, with only a 3% decline.
The primary formal dinnerware consumer is female and between the ages of 25 and 44, NPD noted.
Tabletop consumers with household incomes of $100,000 or more account for 22% of industry dollar sales. Still, almost 30% of dollar sales come from consumers who have household incomes of less than $25,000. The South Atlantic region of the United States is the largest formal dinnerware purchasing area. Specialty stores have gained market share over the past two years, if only slightly, and now account for 20% of dollars, NPD said.
As it turns out, celebrity-endorsed products are more popular with formal dinnerware consumers. Formal dinnerware is 50% more likely to be purchased as a gift than casual options.
Tags: Housewares Tabletop
Dissecting what Ron Johnson got wrong during his brief, calamitous term at the helm of J.C. Penney is sure to be the focal point of retail strategy and tactics lessons for years to come. But Penney’s future could still hinge to some extent on what he got right.