A Study of Home-furnishing Products Strategy through the Consumption Tendency Analysis of Single Household

Single households currently account for 26.5% of all households and their number is expected to continue to rise, reaching 34.5% by 2035. An analysis of the consumption trends and needs of single households shows that they are rising as a new consumer group with a focus on investment on the individual and favouring: small but high-tech products: efficient use of limited resources: safety and peace of mind: self-improvement and leisure. Products which meet such demands are having an impact on the growth of home-furnishing market. An analysis of companies in Korea's home-furnishing market, with examples like the lifestyle company IKEA, shows a variety of brands such as SPA brand, furniture specialist, distributor and character products. And yet most are OEM products which lack differentiated product lines and compete with similar display and distribution structure. We needs the Single household consumption tendency of home-furnishing market and differentiation strategy through product analysis. In order to increase the value of companies in the home-furnishing market, in addition to differentiated design, product competitiveness must aspire to higher customer satisfaction with easy assembly, innovation in logistics, innovative sales methods such as virtual-reality simulation for products and space, individually-tailored furniture for the needs of single household and products which combine smart technology. For home-grown home-furnishing brands to have competitiveness, they must leverage on the strengths of the industry, offering differentiated and competitive products in a wider range of areas with convergence functions as well as differentiation in consumer interface and application of advancing technology; in-depth product research is called for.

1인 가구의 소비성향 분석을 통한 홈퍼니싱 제품전략 연구