TrendSights Analysis: Cocooning - Bringing out-of-home experiences into the comfort of the home

Published: July 2017
No. of Pages: 34
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TrendSights Analysis: Cocooning - Bringing out-of-home experiences into the comfort of the home

Summary

Cocooning reflects consumers' need to stay at home and revert to more conventional methods of performing tasks, such as cooking from scratch. This sentiment is highly aspirational, particularly among consumers leading busy lifestyles who do not have the time to retire to the comfort of their own homes as much as they would like.

Trend drivers
- Technological invasion: Digital platforms are changing the nature of the home and support consumers in recreating their out-of-home experiences at home.
- Economic circumstances: Economic instability impacts upon consumers' disposable income, leading to them choosing to stay in to save money.

Consumer targets
- Millennials are most likely to adopt new technologies that can support and enhance product consumption at home.
- Millennials and female consumers have greater financial worries than average, and are thus opting to stay home to save money.

Consumers are now finding it much easier to recreate traditional out-of-home experiences in the comfort of their own homes amid the proliferation of products offering "professional quality" and "consumer experiences" more commonly associated with out-of-home channels. Many of these running themes provide social currency in the form of "status skills" gained from using professional-grade products.

The report "TrendSights Analysis: Cocooning", helps to identify the reasons underpinning consumers' choice to spend more time at home and how this need affects their purchasing choices. Furthermore, it Gain insight into the key consumer segments that are most likely to be a driver for innovation and put innovative products into context by connecting them to specific consumer trends and preferences.

Scope

- Millennials are most likely to adopt new technologies that can support and enhance product consumption at home.
- Millennials and female consumers have greater financial worries than average, and are thus opting to stay home to save money.

Reasons to buy

- Identify the reasons underpinning consumers' choice to spend more time at home and how this need affects their purchasing choices.
- Gain insight into the key consumer segments that are most likely to be a driver for innovation.
- Put innovative products into context by connecting them to specific consumer trends and preferences.

Published By: GlobalData
Product Code: GlobalData40208


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