Market Transformation

The emergence of new business models and practices are transforming the industry from mass merchandising to customized products and personalized experiences.

Reinvent the Future of Home & Lifestyle

A quickly changing world is creating new opportunities for the Home & Lifestyle industry. Companies are thinking different about the products and services they offer. New ideas such as the sharing economy, app-based services, and smart devices are changing how we sell. This also means that barriers to entry are vanishing and start-ups can compete directly with large, established businesses. Companies that used to think only about their own business are now partnering with competitors to create industry standards for driving change such as in sustainability and data sharing. This new world is dynamic, requiring Home & Lifestyle companies to transform their practices and adopt new ways of thinking about products, services, and their supply chain. The focus will be creating a consumer-driven economy that creates a personalized, connected, experience unique to each individual.

Proactively address competitive pressure with start-up thinking
Leverage 3D to design better products and better experiences
Deliver technically advanced, consumer-driven solutions that connect people, devices, and their environment
Expand into new markets by utilizing business collaborations and disruptive technologies

Change Your Mindset to be in the Consumer-Driven Economy

Competing in the new market means thinking differently about traditional business practices. This might mean looking at selling food, for instance, on a subscription basis rather than a traditional, individually-based selling model. It might also mean moving from a large-footprint retail store to an agile pop-up store or e-commerce model. Brands, manufacturers and retailers must create a business model that places the consumer at the center of their thinking and provides them with connected products designed for their specific needs. This approach will allow companies to be part of the environment of personal experience; an environment where products, brands and retailers, all work together to delight and simplify the life of every consumer.

More Home & Lifestyle Challenges