The design revolution
A research commissioned by FederlegnoArredo analyzed the market macrotrends in Italy, a country that is a symbol of excellence for the entire design sector.Italy is the country that hosts the world’s largest design event - Milano Design Week – and the show organizer, FederlegnoArredo, wanted to analyze the situation of new trends. It commissioned Pambianco to carry out a research titled “The Italian Furniture Market: Millennials vs Adults”. The research involved consumers as well as the trade and verified how the furniture and design buying process varies between millennials (28-36) and adults (over 36) in various areas of Italy. It also emphasized the greater differences between the two age groups, rather than in terms of interviewee geographical distribution, that the trade was basically in line with consumers and, therefore, in step with market demands. Emerging from the research was the fact that millennials are more rooted in the present because they feel that the future – understood as wealth and permanent employment – is more uncertain; they pay more attention to aspects of social responsibility; they interpret the concept of luxury as an experience and authenticity and not as the old concept of expensiveness. Moreover, unlike adults, where in general women tend to impose their choices, millennials share the choice of furnishings with their partner. The research showed that often millennials are furnishing their first house and that this is one of the reasons they generally start with an overall budget and aim for the best value for money. Adults, on the other hand, may have to renovate an area or replace an item and this is why they don’t put any limit on price. They prefer to buy fewer but better quality items. Obviously, this also reflects on the parts of the house they feel to be the most important: millennials don’t make any distinction between environments, but adults concentrate primarily on the living area that most reflects their image. The reasons for these different approaches are based on the fact that millennials fully experienced the great low-budget conceptual revolution and played down products that were considered “eternal” by the previous generation: watches, jewelry and furniture have joined fashion and travel in the zero budgeting approach. While adults aim at branded items that guarantee maximum durability, millennials like to mix expensive items, perhaps bought at a sale, with inexpensive items to create a very personal style. Another significant difference is the approach to online channels. For both groups the Internet is now the first source of information, but adults limit their purchases to accessories while millennials have a greater tendency to buy furniture online if it is made by a recognized brand and with a discount, or if it cannot be found easily off line. Lastly, in order to acquire millennials as additional buyers, furniture companies must offer original and creative products with an interesting quality/price ratio, quality service comparable to that of large international chains, and a direct and multimedia relationship with customers through websites and social profiles.
