The new year means adapting to a few changes in how we do things, what we spend and how we live. But change can be very good and we can embrace this challenge because it brings awareness of what is most important, as we look for ways to be kinder to our environment and to others. It also means a return to the basics and looking for ways to save money, while enjoying those things that really matter - and that can be very rewarding. So embrace the New Year; it's a voyage of discovery.
1. Energy Efficiency Continues to Lead Product Development
We'll see a greater variety of energy efficient appliances and products going forward. And saving energy means saving money, so it's a win/win situation going forward. There's also a bonus, a more energy efficient product often has additional convenience features and functions. For those on time-of-use(TOU) electricity rates and metered water, energy efficiency and delay start features are the solution to managing rising energy bills.
Zone heating will also increase in popularity since it offers consumers energy savings and a practical way to heat those areas that are most used. Consumers will become more proactive in the search for practical ways to cut back on energy and we'll see an increase in conservation training at the youngest levels.
I welcome energy efficient products, but what I'd like to see in 2012 is improved product performance, quality and durability. While manufacturers have been quick to respond to the need for energy efficient products, I would like to challenge them to look for ways to not only meet energy efficiency targets, but to improve product reliability, lifespan and warranty, so saving energy does not have such negative trade-offs as high maintenance and replacement costs.
2. Meeting the Needs of an Aging Population
With the projected surge in baby boomers over the next few years, the age demographics will change in North America. This will spur a need for products and appliances more suitable for this age group, while of course, continuing to meet the needs of today's growing families. There will be an emphasis on products that are lightweight and compact, with frills that really matter and affordable price points.
3. The Economy - Moving Forward With Lessons Learned
We've learned a lot from these trying economic times including the fact that more is not necessarily better and getting (and staying) out of debt is the most important strategy going forward. And that means doing with less and a return to the basics of life for many. This will greatly influence product design as manufacturers will offer a greater variety of basic products with an emphasis on quality and important features, rather than eye candy that does nothing more than entice and increase the price.
Consumers will be eager to maintain their appliances and look for ways to increase lifespan in an effort to better manage their assets and reduce household expenses. Purchasing new appliances will routinely involve reading reviews and learning more about products and features to ensure the best buy, the first time around. There will also be an increased demand for appliance parts and repair information, so consumers can trouble shoot and look for remedies to keep appliances functioning.
The trend of giving gift cards will continue to increase in popularity with young and old alike for holidays, weddings and all occasions. After all, it's the most practical and convenient gift, as well as the most budget-friendly gift-giving option. There's no shipping charges, wrapping costs and the receiver gets what they really want, rather than something they'll never wear or use. There's also less wear and tear on the shopper - it's a no-brainer.
Regifting will also become more acceptable to those consumers who have been relunctant to participate. Times have changed; practical is in. It's a gift-giving option that makes common sense in today's budget-wise society. But regifting should be well thought out; there are regifting rules that must be followed for successful gift-giving.
Reusing and recycling will no longer be something we should do, but will become a routine practice, as we move away from being wasteful and become better stewards of our earth, surroundings and belongings.
4. Smaller is the New and Improved
In an effort to reduce energy and other overhead costs, consumers will choose smaller living spaces over large homes that are difficult and expensive to heat or cool. This will lead to an increased demand for compact appliances, multifunction units, innovative organizers and handy storage units.
With a trend to smaller living accommodations comes the need to downsize and take a serious look at what we collect or keep for whatever reason. This will provide a great opportunity to turn these items into cash or more useful things. Decluttering has mega benefits with the main priority being home safety.
5. Homegrown Takes Root
There's been a return to homegrown, homemade and home canned foods because consumers want more control over what's in the foods their families are eating. Gardening and home preserving will gain an even larger audience this decade. It's easy to grow a few vegetables in the smallest of garden spaces and preserving foods at home is not difficult, but needs to be done safely.
6. Trimming the Food Waste
Impulsive food buying will be replaced with a focused grocery list in an effort to reduce food waste and manage a smaller budget. This is a good thing all around - decreasing food waste means saving money and being a smart shopper. Consumers will also want to protect the foods they freeze or refrigerate, increasing the demand for affordable, well-organized food storage to protect the kitchen larder.
