Home Ownership
Almost a third of consumers expect to be part of a housewarming/new home event happening in the lives of their family and friends over the next 12 months or so, and 23% in their own case, both up a few points from the 2023 study.
Home and housewares gifts are part of the planning for 32% of consumers, up slightly year over year, with kitchen, at 22%, the most popular category, followed by organization or home décor at 20%, cleaning or home environment at 13%, bathroom or personal care at 11% and bedroom at 10%.
When it comes to housewarming and new home occasions, the back half of the year is the more likely timeframe for purchasing home and housewares gifts, with July to September, at 24%, leading next place finisher October to December by three points.
Regarding the housewarming/new home life occasion for themselves, 40% of consumers ages 18-34 expect to be part of such an event versus 28% of the next highest and second place, 35-44.
For your friends and family, how likely is it, if at all, that a housewarming or new home occasion will take place at least once?
For a housewarming or new home occasion, are you more likely to buy a gift card or a specific gift?
Lower-income, middle-income and affluent consumers all come in about equal when picking a home and housewares gift for a housewarming/new home occasion at just under one-third.
Although coming in pretty much tied in housewarming/new home event expectations for friends and family in the somewhat likely response, consumers in the age range of 18-34, at 23%, are 11 points ahead of those 35-44 in responding very likely.
What general product categories of home and housewares gifts would you be likely to purchase for a housewarming or new home? (Select all that apply)
Overall, adults are most likely to say they will purchase a home and housewares gift in 2024 for a housewarming or new home occasion at 32%, with weddings coming in second at 28% and pet ownership third at 27%.
Although the two age groups are close when it comes to purchasing home and housewares gifts for the housewarming/new home occasion, 18- to 34-year-olds were more likely to say they would do so, at 45% versus 41% for 35- to 44-year-olds.
For yourself, how likely is it, if at all, that a housewarming or new home occasion will take place at least once in the next 12 months?
In the next 12 months, how likely is it, if at all, that you will purchase a home and housewares gift for a housewarming or new home?
Although only 36% of consumers would purchase a gift card for a housewarming/new home occasion, men are more prone to do so, at 42%, versus women, at 31%.
Final Thoughts
The housewarming/new home gift-giving occasion in the year ahead looks to generate a good amount of activity. Despite a housing market pressured by high mortgage rates, the National Association of Realtors reported that existing home sales slipped 4.1% year over year in October, the last month the organization reported at press time. Yet a substantial proportion of consumers, as noted, are looking at housewarming/new home events for themselves and for family and friends in the year ahead and more than the year earlier. The housewares and home furnishings business can’t ignore the housing market, but the numbers suggest that it doesn’t necessarily dictate occasions purchasing in the sector.
