Home for HENRYs: Meet the New Customers Home Décor by Pam Danziger

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In her new book Home for HENRYs, marketing expert Pam Danziger reveals where home furnishings marketers can find their best and brightest new customer prospects—Young HENRYs (High-Earners-Not-Rich-Yet consumers)—and how to connect with them.

HENRYs are a rapidly growing demographic segment. Each year since 2010 over a million households have been added to the HENRYs’ ranks. During this time, the number of HENRY households has increased by 23.1 percent, five times faster than the national average, which increased only 3.9 percent in the same five year time period. 

To target the young HENRYs and their home decorating and furniture needs, the essential question all marketers must ask is what do HENRYs want for their homes? 

In Home for HENRYs, Danziger reveals three key trends shaping the future of the home furnishings market based upon shifting values in the mindset of the HENRYs, particularly the young HENRYs on the road to affluence.

Today people are seriously evaluating their lifestyles, what they need, what they own and most importantly, what they really need to own. It’s a mindset focused on doing more with less and many young HENRYs are adopting  the ‘tiny house’ mindset, even if they haven’t yet moved into tiny houses. It’s a focus on quality of life, not quantity of possessions. It means they are making strategic compromises based on value. 

Danziger explains, “The shifts in consumer psychology call on brands to tell new stories. Young HENRYs reject their parents’ and grandparents’ ideas of luxury in favor of concepts that are more practical, functional, inclusive, democratic, responsible, and, ultimately, more affordable." In Home for HENRYs, marketers will discover the most powerful new luxury stories that connect with young home-hungry HENRYs. 

Home for HENRYs, explores not only the attitudes and buying power of young HENRYs, but also how top online and brick-and-mortar retailers and marketers are responding to the needs and desires of this new home consumer, across a wide range of home categories including RH/Restoration Hardware, West Elm, Noritake, Miele, CordaRoy’s, La-Z-Boy, Ekornes, Sensulalite carpets, Lovesac, Jonathan Adler, Wayfair, One Kings Lane, PIRCH, OXO, Interior Define, and others.

Readers will find themselves quickly immersed in the thinking of these new consumers who typically fit one of FIVE lifestyle profiles, specifically X-Fluents, Aspirers, Cocooners, Butterflies and Temperate Pragmatists, each of which have a very different set of motivations and priorities for home decor. In this insight-filled book Danziger offers suggestions for how to reach each of these groups.

Danziger is an internationally known writer and researcher specializing in the luxury consumer market. With this new book focused on home furnishings, Danziger begins a series of compact books focused on specific market segments.

(92 pages, paperback, ISBN 978-1-941688-46-5; 2017)

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