5 minute read
Looking Ahead to 2030
New era of innovation and creativity in homes
by Rachel Crippin Clark
Are you ready for 2030?
Imminent lifestyle shifts will dramatically change the experience of home, meaning what’s working today for the housewares industry might not work in just a few short years.
“As we like to say, 2025 is already here,” says Susan Yashinsky, vice president of innovation trends at Sphere Trending. “The future is happening quicker and quicker.”
While that may sound daunting, there are plenty of opportunities for companies small and large, local and international, online retailers and brick-and-mortar stores.
The secret is in “starting with consumer insights and understanding what’s causing the home to shift, and then finding the opportunities within those shifts,” says Yashinsky. “Everyone can’t do everything. You need to work around your core essence and then start to spread out a little bit for additional opportunities.”
Those consumer insights and trend forecasts were the focus of Sphere Trending’s session in IHA’s Connect FALL virtual event, presented by Yashinsky and Mandi Mankvitz, the company’s president of possibilities.
Markets
In the past, retailers might have only focused on one or two market segments. But by 2030, six different generations will be increasingly interdependent in their home lives. Think about younger adults living at home longer and older adults moving back with their middle-age children. Expect a growing interdependence between older generations helping younger ones financially, while younger generations help older ones with care.
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While the pandemic has caused some to focus on only the “haves” or the “have-nots,” the middle class—and middle-class sensibilities—are an incredibly important market. China’s Xiaomi is one company successfully tapping into middle class sensibilities by either taking expensive, high-end smart home products and making cheaper versions, or taking lower-priced, generic products and improving them.
By 2030, consumers’ ever-expanding value equation will expand to include personalization as an important quality. “We’re moving from a market of many to a market of one,” says Yashinsky.
Thankfully, rapid manufacturing technology is expected to advance so that mass customization at value price points will become a reality around the world. (It’s already happening in China.)
Retailers should also expect new perspectives on product ownership. Consumers—especially younger ones—are getting more comfortable with rental and resale platforms in housing, clothing and transportation. Now that doesn’t mean new product sales will be out … but you might also be renting or reselling products, or partnering with someone who does.
What is “Home”?
Simply put: “We need to stop thinking of home as a static place,” says Yashinsky.
By 2030, most consumers will be rethinking their home spaces for flexibility—whether that means incorporating the needs of multiple generations or having the ability to switch between working and playing, not just in the lifestage of a home but within a day as needed.
They might not even have a traditional home, perhaps taking advantage of remote work arrangements to move between rental accommodations in different parts of the world.
Or they might have a vehicle that allows them to bring “home” with them wherever they go. While recreational vehicles surged in popularity during the pandemic, a few new options include the Cyberlandr, which is a camper/overlander for the Tesla Cybertruck that allows users to take a kitchen, living room, bedroom, bathroom or office anywhere they go. BMW is also experimenting with a way to incorporate a flexible living room-type space that could be used in their cars when not on the road.
Localism
Even though society is more connected globally, “don’t underestimate the value of localism,” says Yashinsky. Zurich, Switzerland’s new BRIDGE grocery store is a notable example of a retailer using cooking events, pop-ups and flexible displays to bring community to its shoppers (even its name implies how they strive to make connections).
DELTA CYCLE
IULIIA AZAROVA / SHUTTERSTOCK.COM Chain retailers, don’t worry: You can achieve localism by creating unique experiences related to the community you’re in, partnering with community organizations or incorporating local brands.
On another front: As supply chain costs have gone up and efficiency has gone down, look for a renewed focus on local production. While some consumers may prefer local products for environmental reasons, others may choose them because they’re available faster.
Even global companies are experimenting with more
localized production. Unilever has new nano-factories that fit in a shipping container so they can go anywhere in the world. They’re designed to make small batches of products with local materials that don’t have to travel as far to consumers.
Technology
It might sound hard to believe, but by 2030, we might be seeing the end of the smartphone, says Mankvitz. Instead of carrying around one device that does a number of things, we could be moving to a new constellation of devices we will either wear or embed.
Examples include a new Google patent for fibers embedded in garments that allow touch controls for ride-sharing apps; Apple has a new patent to add haptic actuation cells to their Beddit Sleep Monitor; and a Defense Advanced Research Projects Agency project to develop non-invasive head-worn devices designed to track brainwaves.
In addition, sensors are getting smaller and much more affordable. In fact, the smart home sensor market is expected to grow at a CAGR of 18.6% from 2020 to 2027, according to Allied Market Research. Current home products may be able to sense motion, water leaks or air quality, but future possibilities are endless.
“By 2030 we’ll also see more artificial intelligence using inferences to streamline factories, power grids, intelligent robots and automated retail,” says Mankvitz.
Relevance
As trends move more quickly, it can be harder to stay relevant.
“Social media is a racetrack for commerce,” says Mankvitz. After all, 73% of consumers say they’re interested in trying new and different ways of shopping, according to Facebook IQ Research.
“But despite all the chaos and rapid change in lifestyles and in the marketplace, some things won’t change by 2030 (or anytime soon),” asserts Yashinsky.
