Recent research by Trend-Monitor into kitchen purchase behaviour found that homeowners are incorporating more and more appliances into their kitchens which had previously been considered luxury, high ticket items.
The popularity of ‘luxury’ appliances such as steam ovens, boiling water taps, warming drawers and wine coolers has risen steeply over the past 12 months and these items are now considered to be standard items for today’s kitchen
Luxury is changing and it’s no longer about possessions, now it’s about experiences and status, so which luxury trends can kitchen manufacturers tap into?
The new luxury mindset says less about ‘what I have’ and more about ‘who I am’ – more ethical, more creative, more connected and more tasteful than others. And within the constant buzz of social media, where better to show this off than in the kitchen.
Entertaining at home is at an all-time high, making the kitchen an area of the home where luxury can be conveyed via the environment and the experience rather than the actual products. Today’s luxury kitchen has become less about an area to cook in and more about somewhere to express one’s creativity and sophistication by experimenting with food from different cultures or re-creating an environment similar to that experienced on a holiday abroad.
And whereas status used to be about how much money you made, in 2017 its about how much money you can give away, think Mark Zuckerberg and Priscilla Chan who announced 99% of their shares in Facebook would be given away to serve good causes, and Warren Buffet starting The Giving Pledge with Bill and Melinda Gates which requires its members to dedicate the majority of their wealth to giving back.
Apply these values to businesses and there is an expectation that at the luxury end of the market, brands should be giving back as well, in the form of new sustainable/ethical products, or launching campaigns that generate positive social change.
Ultimately, something as simple as time is often our greatest luxury, and technology at it’s best can provide us with more of this. As the smart appliance market struggles to live up to all the recent hype, understanding the time-saving element in these appliances will drive sales at the luxury end of the market.
For more information about how homeowners are using their kitchens here in the UK, have a look at our Kitchen Purchase Behaviour, Consumer Insight Report No.2, which surveyed 500 homeowners who had recently purchased a new kitchen to understand how they use their kitchen and what motivated them to install a new kitchen
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