The NPD Group’s Future of Home report predicts 15% year-over-year dollar growth for the home products sector during the fourth quarter as the COVID-19 pandemic, and the new habits it is prompting homebound shoppers to develop, continue to reorder the marketplace.
“This year the holidays will be as much, if not more, about the time we spend at home than the time we spend with others,” said Joe Derochowski, NPD home industry advisor. “In preparation for the holidays, and colder weather across many regions of the country, consumers will be looking to give and get products that both facilitate and enhance their altered celebrations and increased in-home activities.”
Each segment of the home industry can anticipate growth through the holiday season, but gifts to help family and friends stay groomed and fed top the list of anticipated home-related presents to give for many consumers, NPD noted. Product categories most likely to see a boost include electric toothbrushes, food storage, cookware, air fryers, bakeware, facial hair shavers, fans, curling irons, hair dryers and kitchen gadgets.
The continued expansion of daily living needs will give an extra boost to end-of-year growth in 2020 compared to most years but other trends seen since the start of the pandemic will lend their own effects, NPD noted.
“There are three levers for growth that can be engaged during the holiday season: gifting, special occasions and daily living,” added Derochowski. “In addition to simplifying everyday tasks, the home industry has an opportunity to help the consumer elevate this year’s holiday meals and celebrations in spite of today’s limitations, and create an in-home experience that goes beyond the ‘everyday.”