Luxury marketers that target the affluent consumers' home have a cost-effective research opportunity that will provide them with targeted consumer information through a survey among 750-to-1,000 affluent consumers who recently purchased home furnishings products and/or recently remodeled, redecorated or built a new home.

The research will be lead by Pam Danziger and Unity Marketing, a leading consulting firm specializing in luxury consumer insights.  Danziger explains, "The research will deliver a compelling package of facts and figures that quantitative surveys provide, plus  insights into consumers' mindset gathered through an issues and attitudes survey strategy."

In a unique twist, luxury marketers interested in this study will have the opportunity to sponsor the research before it begins. As a sponsor, companies will have direct input into the direction, scope and objectives of the project, oversight in the survey design and can add their brands and key competitor brands to the survey. 

"Using this multi-client approach makes these insights budget-friendly, yet customized to the specific company's needs," Danziger explains. 

Consumer Insights to Be Discovered

With a focus on consumers' behaviors, needs, desires and preferences, this research study will include data and statistics about:

• Luxury Home Market Size and Growth: What is the size of the luxury home furnishings and household equipment markets, including the various segments in the luxury home market, including real estate, remodeling, and home furnishings market, including furniture and decorative home furnishings?  How is it segmented by type of product and service?   How rapidly is it growing?  What are future growth trends in the segments in the market?
• Demographics of the Luxury Home Market: What are the demographic characteristics of luxury home buyers?  What are the key demographic differences found among and between buyers of the different products and service segments (e.g., gender, age, generation, HHI, size, composition, ethnicity/race, education, etc.)?
• Buying and Shopping Behavior of Luxury Home Consumers: What are the primary characteristics of the consumers? Buying behavior related to luxury home, including real estate, remodeling and decorating services and home furnishings products and services? What kind of shopping experiences do consumers crave and what kind do they disdain?  What motivates them to buy luxury home and how can marketers tap these motivators through branding and marketing communications initiatives?  Where do luxury home consumers shop for the different types of products and services? What factors influence their decision-making?  How much do they spend buying each of the products and services segments and across the entire category? What is the role of brand in product and services selection and shopping choices?  How do different demographic segments differ in their shopping and buying behavior?
• Favorite Home Brands, Stores & Designers:  Find out what your company's brand/s mean to the luxury home customer.  A major thrust of the research will be to understand the brand preferences of luxury home customers.  What builders, designers, product brands and retailers do they think of for their purchases?  How do these competing brands rank in terms of consumer awareness and usage?
• Psychographic Profile and Segmentation of the Luxury Home Market: A psychographic profile of the luxury home customer will be developed in this study.  The profiles will identify different types or personalities of consumers of luxury home products and services. These profiles will identify each personality's drives and motivations in purchasing these products and services; what factors are more or less important in driving their purchasing decisions; and how their attitudes and motivations influence what they buy and how much they spend.  These insights will help home furnishings product and service marketers and retailers better understand the hearts and minds of their consumers.

Research Methodologies

Insights into the home furnishings consumer segments of the market will be gathered through an online survey conducted among 750-to-1,000 recent buyers of home luxuries, including home furnishings, appliances, electronics, building products and/or consumers recently involved in home remodeling, redecorating and/or home building projects. 

The respondents will have a household income in excess of $100,000 with an expectation of an overall survey average income of $175,000 or so.  The survey will be conducted in June-July with results of the study released on or about August-September 2008.

Sponsor Deliverables
Survey sponsors will receive the following deliverables:

• Review draft survey questionnaire making suggestions and recommendations, add key brands and 5-6 competitor brands, and add key products and services.
• Topline results or cross-tabs delivered immediately after survey is conducted which will include answers to all survey questions.
• Final in-depth Home Furnishings Consumer Insights Report including all major findings quantitative study and psychographic personality issues analysis.
• Webcast presentation of an executive summary of major findings with question and answer period.
  

Exclusive Sponsorships

Company sponsors will have exclusivity within their specific product category, so no direct competitors will act as sponsors.  Therefore, we can accept only one kitchen home appliance company; one case goods furniture manufacturer; one upholstered furniture manufacturer; one window dressing company; etc.

Timing & Sponsorship Fees

Unity plans to conduct the research in June-July 2008 and publish the final report on or about August-September 2008.

• Basic Research Sponsorship Fee: $3,000 to $5,000 

(Sponsorship fees may vary depending upon the total number of research sponsors)

To learn more about the luxury home research investigation, click the link to the right to request more information.