Consumers are embracing key life moments after the pandemic and plan to continue to do so in the year ahead, according to the recently released International Housewares Association (IHA) 2023 Occasions Report (sponsored by Newell Brands).
The survey identified opportunities for retailers and suppliers in terms of market parameters and dynamics, featuring exclusive research, commissioned by the IHA, updating the results of its 2022 survey, which examined consumer gift preferencesand shopping behaviours based on eight key life events – engagements, bridal showers, weddings, new home ownership, new pet ownership, baby showers, off to college and retirement.
Long established occasions have been disrupted by Covid and year-on-year results in the report show how consumers have rescheduled and reimagined life events delayed by Covid restrictions.
Just under a quarter of respondents were planning to attend a wedding in the next year, compared to 29% in 2022. Those expecting to be involved in an engagement event was 21%, versus 25% the previous year. Bridal shower plans also dipped to 19%, from 23% in 2022. Meanwhile baby shower plans increased to 25% from 16% the year before.
With the home market in flux, the possibility of celebrating a new home slipped to 28% vs 32% the year before. The IHA says the decline is no surprise, but the continued elevation vs pre-pandemic levels is important.
Leana Salamah, vp of marketing at IHA said the opportunity isn’t necessarily confined to a given occasion, but often extends as consumers re-equip for their next life stage.
Leana commented: “These are inflection points. They fundamentally change something about the consumer. We talk about retirement as an occasion, but after the occasion has passed, this is a different consumer. A retired consumer. What do they need moving forward?”
The full report can be found here – www.homepagenews.com/occasions23
