NPD: $56 Billion Spent On Home Products In 2016

Consumers spent more than $56 billion on everything from small home appliances and non-electric housewares products to home textiles and online purchases of major home appliances in 2016, according to global information company The NPD Group.

Overall, 2016 was a positive year for the home industry and growth was driven by products that delivered innovative approaches to addressing the three essential areas for today’s consumer— health, convenience, and living in the moment, NPD officials said.

“Today’s consumers are spending more time in the home and are willing to spend more for products that will help enhance their home lifestyle,” said Joe Derochowski, executive director and home industry analyst at NPD. “The hottest selling home products illustrate the creative ways manufacturers can appeal to the wants and needs of the consumer, ranging from simple to complex, which can be applied to a wide range of product categories.”

Whether shopping, cleaning, chopping or creating, the consumer’s desire to live a healthier life, their need for convenience and speed, and their aspiration to create experiences in the home were each met with innovation. The result was a winning combination and significant growth in many categories for the home this year, he said.

“It’s about making a strong and positive impact on consumers’ lives,” said Derochowski. “Home products marketers that can solve the ‘I hate’ moments, feed the ‘I love’ thoughts, and answer the ‘I wish’ pleas will see success in the years ahead.”