Designs on the Home

2. Designs on the Home • According to the American Society of Interior Designers (ASID), its Interior Design Billing Index (IBDI) was 59.6 during April 2016. An index score greater than 50 indicates an expanding interior design market. • The ASID 2016-2017 State of the Industry Report states that the industry’s value of growth increased 0.6% to $9.1 billion during 2015. • The total number of design firms increased 6.0% to 12,642, the total number of designers increased 11.9% to 7,243 and 29% of firms said they plan to hire more designers, a 4.0% increase.

3. Making the Current Home Better • According to the Houzz Overview of U.S. Renovation in 2015 report, 49% of surveyed homeowners said they preferred to stay in their home and 31% in their neighborhood, and renovate instead of buying their “perfect” home. • The report also cited the top renovating triggers during 2015 as “finally have the time,” 38%; “finally have financial means,” 37%; and “recent home purchase,” 26%. • Just as Houzz reports of prior years have discovered, a majority of homeowners plan to renovate or decorate their homes during 2016: renovate, 52%, and decorate, 46%.

4. The Textures of Home • According to Home Textile Today, the US home textiles market generates approximately $22 billion in annual revenues. Mintel reports that the bed linen segment increased revenues almost 5% during the 2013–2015 period. • Cotton Incorporated’s Lifestyle Monitor Survey reports that 81% of surveyed consumers preferred cotton or cotton-blend bed sheets, with silk a distant second at 3%; followed by satin, 2%; flannel, 2%; and linen, 1%. • Teens and adults, 18–24, are more likely than adults, 56–70, to shop for these sheet features: quick-dry, 48% and 36%, respectively; temperature control, 52% and 35%, respectively; and moisture wicking, 42% and 29%, respectively.

5. Welcoming Warmth • New research from MarketsandMarkets.com states that total global revenues for the home hearth products market were $11.97 billion. North America was responsible for 60.74% of this total. Global revenues are forecast to increase to $14.39 billion by 2020. • The integration of smart technologies, or the use of apps to control fireplaces, was one of the major 2016 trends announced during the Hearth, Patio and Barbecue Association’s (HPBA) March 2016 Expo. • Another major 2016 trend is consumers’ preference for linear fireplace designs with sleek, modern looks.

6. Advertising Strategies • Suggest that interior design services promote a discount for new homeowners who contract for services within 6 months of purchasing a new or existing home. • Local home textiles or bed linen retailers may be able to partner with a major mattress/bedding chain to provide a coupon to its customers for a bed linen set with a qualifying purchase. • Suggest fireplace stores offer a free supply of combustible materials (wood, pellets, electric credit, etc.) for Thanksgiving and Christmas dinner and New Year’s Eve with a qualifying purchase by October 31st.

7. New Media Strategies • Social media is an excellent channel for interior design services to show before-and-after photos and/or videos of recent projects and testimonials from those customers. • Home textiles stores can conduct a contest via social media and/or their Website inviting customers to show how they created a unique or personal look in bed or table linens. Ask everyone to vote on the best (or other criteria), with a prize for the winner. • Fireplace shops can use social media to provide pertinent information about safety issues, especially relating to children; the different types of combustible materials, comparing their cost and heat output; and insights on chimney cleaning and repair from a local expert.