Kitchen & Bath Design News

JUL 2015

Kitchen & Bath Design News is the industry's leading business, design and product resource for the kitchen and bath trade.

Issue link: http://kitchenbathdesign.epubxp.com/i/547008

Contents of this Issue

Navigation

Page 6 of 53

July 2015 | KitchenBathDesign.com | ForResidentialPros.com | 5 Editorial { Eliot Sefrin, Publisher Emeritus } Facebook.com/KitchenBathDesignNews @KitchenBathDesignNews J ason Dorsey knows a thing or two about Millennials. And the insights he possesses contain major implica- tions for design frms, product suppliers and marketers at every point along the kitchen/bath industry's retail and dis - tribution chains. Dorsey, whose Austin, TX-based Cen- ter for Generational Kinetics conducts research for companies worldwide, con- veyed his insights to attendees at the recent annual convention of the Kitchen Cabinet Manufacturers Association in Napa, CA. His message was this: The influx of Millennials into the marketplace and workplace represents both a monumental challenge and unprecedented opportunity for companies in the kitchen and bath trade. How those companies adapt to this new generation of consumers and workers will be a key to future success. What Dorsey told cabinet suppliers, in so many words, is that Millennials – also known as "Echo Boomers," "Generation Y," and Generation Next" – will be their primary employee in the decades to come, as well as the most critical client throughout the professional lifespan of most deal- ers and designers. Because of this, it's imperative, Dorsey said, that businesses learn how to recruit Millennials, moti- vate them and train them. It's equally imperative that companies learn how to design for them, market to them and sell to them. And why is it so important? Simple. As Dorsey notes, Millennials – cur- rently between the ages of 15 and 34 – are the fastest-growing generation in America, and while the economy and other factors have led many to delay tra - ditional milestones of adulthood, they're now entering the market for big-ticket items, including new homes and remod- eled kitchens and baths. In fact, estimates are that this year alone, Millennials will spend more than $1 trillion on products and services. By 2017, their annual expenditures are pro- jected to exceed that of the Baby Boom generation that shaped the kitchen and bath market for the past 30+ years. Designers, remodelers, home build- ers and marketers need to do their homework in order to understand how Millennials difer from other genera- tional cohorts, including Baby Boomers (born 1946-1964), Generation X (born 1965-1979) and Matures (born before 1946). Designers will need to be tuned in to a galaxy of design specifcs that refect their needs and desires, while working hard to tailor and diferenti- ate their frm's products and services (see related Consumer Buying Trends, Page 10). Showrooms should be adapted to refect Millennial tastes and sensi- bilities. Manufacturers, if they aren't already, need to start thinking about introducing products specifcally aimed at this group. For instance, Millennials, according to market analysts, value a distinctly casual lifestyle featuring a clean, con- temporary design aesthetic, and are anxious to incorpo- rate the "new and diferent." At the same time, they are technology mavens who put a premium on respon- sible resource management and accessible design. Most significantly, they are val- ue-conscious collaborators – preferring to work with men- tors, partners and teams – and buying only from profession- als they like and respect. Marketers should under- stand what Millennials value and need, and how to connect with them. The upcoming kitchen and bath re- modeling generation will no doubt want its own footprint, and likely won't em- brace the cookie-cutter lifestyles and preferences of former generations. The industry needs to prepare itself for the coming sea change if it wants to fourish in the decades ahead. The infux of Millennials into the marketplace and workplace represents both a major challenge and opportunity for the kitchen and bath trade. How companies adapt to this new generation, and address their needs, will be a key to future success. New Generation to Spell Opportunities, Challenges "Designers, remodelers, home builders and marketers need to do their homework in order to understand how Millennials are diferent from other generational cohorts." Publisher Paul DeGrandis Publisher Emeritus Eliot Sefrin Editor Janice Anne Costa Managing Editor Anita Shaw Group Editorial Director Patrick O'Toole Contributing Writers Kim Berndtson Joe Dowd Jamie Gold, CKD, CAPS Elizabeth Richards Denise Vermeulen Columnists Ellen Cheever, CMKBD, ASID, CAPS Hank Darlington Leslie Hart Bruce Kelleran, CKD, CPA Stephen Nicholls Ken Peterson, CKD Mary Jo Peterson, CKD, CBD, CAPS Sarah Reep, CMKBD, ASID, CMG, CAPS, IIDA Bryan Reiss, CMKBD Eric Schimelpfenig, AKBD Creative Director & Production Manager Tracy Hegg Graphic Designer Cathy Petersen Circulation Manager Mike Serino Reader Service Manager Jeff Heine Digital Programs Manager Tim Steingraber Operations Manager Marie Snow Copyright © 2015 by SOLA Group Inc. All rights reserved. No part of this magazine may be produced in any form, including electronically, without written permission from the publisher of Kitchen & Bath Design News . ®

Articles in this issue

Links on this page

Archives of this issue

view archives of Kitchen & Bath Design News - JUL 2015