SINGLE WOMEN ARE DRIVING THE $737 billion DECOR INDUSTRY

Historically, women make 94% of home furnishings, 92% of homes, 60% of automobiles 51% of consumer electronics purchase decisions, we are able to deduce single women are making 100% of those purchase decisions and with single women homeownership on the rise this category will continue to increase. In 2020, spending on home improvements and repairs grew more than 3%, to nearly $420 billion, as people modified living spaces for work, school and leisure in response to the Covid-19 pandemic.

SINGLE WOMEN’s HOMEOWNERSHIP IS LEADING THE GROWTH OF THE $737 BILLION DOLLAR HOME FURNISHING INDUSTRY.

The home decor industry in the US is experiencing significant growth, with single women emerging as the largest group of homeowners. This trend presents a massive opportunity for the decor industry to cater to the unique preferences and needs of this demographic. The market size in 2020 reached $737.2 billion, and a steady growth rate is forecasted, with an expected market value of $1 trillion by 2025.

@signedblake, Chicago

Single women represent the largest group of homeowners in the U.S., indicating a substantial market segment for the home decor industry. Particularly the U.S., holds the largest market share at 37.5% in 2019. This is attributed to widespread product accessibility and increased penetration of both online and offline sales channels. Single women consumers spent significantly on various categories, including living room furniture, bedroom furniture, kitchen and dining room furniture, office furniture, lighting, and decor. Home improvement hardware and do-it-yourself tools constituted the most substantial segment at $601.8 billion.

@allieprovost, New York

According to Home Advisor, the national average cost to furnish a house is about $16,000, but the actual range spans from $3,500 to just shy of $100,000. The lower end accounts for budget-friendly furnishings in smaller spaces, like studios and one-bedroom apartments, while the higher end accounts for three- or four-bedroom homes with luxury furnishings.

For so many spinsters so much of their creative expression and comfort comes is in creating a comfy, cozy, sexy and chic home. DIY home influencers have changed the singles home decor wealth of inspiration and education for individuals, including single women, looking to decorate their homes. Through blogs, social media platforms like Instagram and Pinterest, YouTube channels, and other online platforms, these influencers share tips, tutorials, and creative ideas for home decor projects. The influencers are arming spinsters with the knowledge and confidence to tackle home improvement projects themselves, rather than relying solely on professional services.

DIY home decor often emphasizes cost-effective solutions and budget-friendly alternatives to expensive designer decor with a focus on thrifted or upcycled items, affordable materials, and clever hacks to achieve stylish and personalized looks without breaking the bank. This emphasis on personalization aligns with the growing demand for authenticity and individuality in home decor. DIY home influencers promote eco-friendly and sustainable practices in home decor, such as repurposing old furniture, using non-toxic materials, and reducing waste. By raising awareness about the environmental impact of consumerism and advocating for more conscious consumption habits, these influencers contribute to a more sustainable and responsible home decor industry.

Home influencers have both inspired and democratized the home decor landscape, making it more accessible, inclusive, and empowering for single women and homeowners love the space they live in. They have helped to redefine traditional notions of home ownership and interior design, empowering individuals to take ownership of their living spaces and transform them into personalized sanctuaries that reflect their unique identities and aspirations.

@deeplymadlymodern, Palm Springs

With single women being the largest group of homeowners, the decor industry can tailor products and marketing strategies to meet their preferences and needs.

The home decor industry is poised for substantial growth, fueled by the increasing number of single women homeowners. Understanding and catering to their preferences, leveraging online channels, and innovating in key product categories, businesses in the home decor sector can capitalize on this lucrative market trend. Basically, “put some respek on” single women and her love for her home!