Market Research in Housewares :: Marketing, business, products,

Its certainly been one of the most eventful years on record for the housewares perseverance, with the economy in freefall and the decline of some of the industrys most respected house put on names there really was very little to cheer ab aside.There are still many what ifs out there. Its impossible to predict the outcome, but on one- side there is the issue of rising inflation, unemployment and a general election which will keep consumers prop tightly on to their purse strings and demanding to a greater extent from the industry. By this I mean, demanding products that are well designed, ethically sourced and competitively priced. This is going to provide suppliers with a hustle of major challenges over the coming year. New PrioritiesOne of the outcomes of a recession is that people often re-evaluate the way they live their lives and whereas before purchase decisions probably didnt require a great deal of thought, this is no longer the case and every single pound spent will nee d to count.On the more positive side, 2010 will see new suppliers and retailers enter the market place, companies who have taken advantage of vacant space available on the high street and as well gaps in the supply chain. One of the areas that I believe will continue to grow is high-end contemporary established brands as well as small unselfish retailers. These newcomers focus specifically on quality, service, design and lifestyle. Many established names like Emma Bridgewater and Cath Kidston have grown their businesses during 2009 and have a strong foot hold in the market. They continue to provide their customers with fantastic lifestyle stories and fresh contemporary designs as well as playing on their Made in Britain traits or feeding the homespun lifestyle concept, a trend which will be with us for quite some time and which consumers still wish to emulate.OpportunitiesWhilst supermarkets and discount stores essay to increase their market share at the expense of domesti c producers and specialist retailers, I still believe that there are opportunities out there for the smaller retailer. You only have to look at Lakeland - the mail order company - who continues to thrive in difficult market conditions due to a fantastic mixture of great product offers and outstanding customer care.Whilst companies strive to compete in difficult economic times, I do believe that those who really understand their market and customer needs will continue to grow.