We Are Witnessing a Housewares Boom
Savvy retailers are implementing new merchandising strategies to adapt to the “new normal”.
The substantial increase in at-home food consumption that drove extraordinary growth throughout 2020 has continued into 2021. Families are still preparing meals at home and are more likely to experiment with new recipes and preparation methods. This shift is fueling a surge in demand for housewares products that offer high margins and boost transaction sizes.
Strategies to Capitalize On
The pandemic has created opportunities for retailers to optimize housewares offerings to become more competitive in this high potential category. To take advantage of this opportunity, retailers are advised to do the following:
- Use signage and location to make housewares displays more prominent.
- Integrate housewares into seasonal displays that include a wider range of product categories.
- Feature housewares in all promotional materials both externally and on-site.
- Ensure product selection is regionally and locally relevant.
- Promote housewares items that support customers’ at-home desires and need.
Transition to the Suburbs
The pandemic created a noticeable shift from the cities to the suburbs. In particular, Millennials are the ones who are on the move. While small apartments aren’t always ideal for hosting guests, those who are moving to houses need items for entertainment purposes. Connecting with this audience is crucial to a retailers’ success in 2021.
The Future is Bright for Grocery Stores
Even though the trajectory of housewares sales in 2021 may inevitably slow compared with 2020, the long-term trend remains favorable. When consumers shifted spending to grocery stores from other retailers, they’ve realized that the grocery channel can provide their houseware necessities. In conjunction with pandemic forced closures for some retailers, product quality is key to the permanent revenue increase in the category for grocers.
Is your business stocked with the right houseware items? Are still looking to find the right selection? Reach out and let us know how we can help!