If you own a home decor store or are considering opening a new one, you will need to know the types of customers you would like to attract to your store and those you would rather not.
Everyone who has a home needs to decorate it in some form or another. But not everyone is going to be your customer. So, who is your target market for home décor? And what kinds of products will you carry to attract your ideal customers to your store.
In this article, we will try and understand the target market for home décor by analyzing the reasons why someone goes to a home décor store. When people buy different items for their homes, they have motivations that make them buy one style or one product instead of another.
What are these motivations? That’s what we’ll cover in this article. Keep reading!
Understanding the Target Market for Home Decor
One of the best ways to understand the target market for home decor is by analyzing the motivations or reasons that consumers have to go to a home decor store.
By studying these customer drivers, we can divide the target market for home decor into the following customer segments:
- People who have just purchased a new home
- People who are redecorating their home
- People who are looking for a gift for someone else
- People who need to replace an item in their home
- People who are looking for a particular style
- People looking for inspiration
Let’s look closely at each of these segments of the target market for home decor.
1. People who have just purchased a new home
People who’ve just purchased a new home usually need to buy everything for it. They might not have any furniture or home decor at all and could be starting from scratch. These customers are looking for ideas and inspiration. They might not have a specific style in mind but are open to suggestions.
This is why people who have just purchased a new home are often the easiest target market for home decor stores. They will also be more open to new trends and different designs as they are often starting with an empty plate.
Sometimes, people who buy a new home prefer to move some of their furniture and other home decor items from their old home. In that case, they might only need a few items to supplement what they already have and could be more restricted in terms of design and style.
2. People who are redecorating their home
People who are redecorating might be doing so because they’re bored with their current style, or it might be due to a change in their life circumstances. For example, they could be getting married, having a baby, or downsizing because their children have grown up and left home.
People who redecorate usually have a specific style or look in mind. They could be going for a complete makeover of the entire home with all new furniture and home decor, or they might just want to alter a few rooms that are in need of a refresh.
During redecoration people often look for specific items to achieve the look they’re seeking. They might need new lamps, rugs, or curtains. They could also be looking for furniture such as a new couch or coffee table.
People who are redecorating a home are also an excellent target market for an interior design business. This is because these people are in a stage of their life where they have disposable income and are willing to spend it to upgrade their homes.
3. People who are looking for a gift for someone else
When looking for a home decor gift for someone else, people are often restricted but the taste and style of the home into which their gift will go. This might restrict their choices of home decor styles and therefore of home decor stores and your store might not fit the bill at all.
One advantage that home decor stores have while targetting this segment of the market is that they usually have a decent budget. After all, it’s not every day that you buy someone a gift for their home.
People who are looking for a home decor gift for someone else are often looking for something unique and special. They might be looking for a limited edition item or item that isn’t mass-produced. And they are often willing to pay well for it.
Another thing to keep in mind when targeting this segment is that people who are buying gifts for others might need some guidance. They might not know exactly what they’re looking for and will appreciate staff who can offer suggestions and help them find the perfect gift.
4. People who need to replace an item in their home
When replacing a home decoration item, people usually look for something specific. They might need a new vase because their old one broke, or they might be looking for a new rug to replace the one that’s worn out.
In this case, people are often more restricted in terms of style but not necessarily their budget. They may not look for something completely different and will often need to stick to a style similar to what they already have (or had) but they might be willing to upgrade in terms of quality and spend more money on the replacement.
For instance, if an old vase acquired as a gift from someone breaks, the owner might see this as an opportunity to get something more expensive or more chic as a replacement. And, since they wouldn’t be redecorating their entire home but just buying one new item, they may be more willing to spend more money on it.
Of course, these customers may simply just go to a furniture store and may not be interested in a complete home decor store.
5. People who are looking for a particular style
People will often go to a specific home decor store because it fits the style they are looking for. For instance, someone looking for a rustic style might go to a store that specializes in that look.
What you need to know about this market segment is that there is no way for you to attract them to your store if you do not carry the style they are looking for. And so your marketing programs will need to make it clear what you have and who you are serving because if customers looking for something entirely different walk into your home decor store they will waste not just their time but also that of your employees.
6. People looking for inspiration
Sometimes people aren’t in the market for anything right now. They are simply looking for inspiration and ideas for the future. They might just be browsing through your store or even just window shopping.
In this case, you need to make sure that your store is appealing and that it’s easy for customers to find what they’re looking for. Your displays should be well-organized and visually appealing. You may also want to have a staff member available to offer suggestions and help customers find what they need.
People who are looking for inspiration are often more interested in the overall look and feel of your store than anything else. They might not buy anything on their first visit but if they like what they see, they will come back or even tell their friends about you.
Summary
The target market for home décor stores is a broad one and can be segmented in many different ways including by budget, occasion, style, and more. In this article, we’ve segmented this market based on the motivations that people have to go to a home decor store.
Most people go to a home decor store either because they have just bought a new home that needs decorating or because they are doing a makeover of their current home. Others might go to find a gift for someone or to replace an item in their home that is worn out or broken.
Some people are looking for a particular style and try and find a store that carries that style, while others are just looking for inspiration.
Now which of these segments most closely resembles the ideal customer you imagine for your store? Once you answer that question, you will be in a better position to decide what products to carry and what types of marketing campaigns to run to get your name out there and attract these customers to your store.