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FRANK ABOUT WOMEN > HOME OF THE SWANK

SWANKHome of the

October 2015

22

FRANK ABOUT WOMEN > HOME OF THE SWANK

TABLE OF

2 The Life and Times of a SWANK Homeowner

1 Introduction

contents

INTRODUCTION

PREVIOUS REPORT:

4 Healthy Home

5 Dudes and Their Homes

6 Smarter Homes

7 Mom as Homeowner

COMING SOON:

3 The Great Outdoors

IN THIS REPORT:

31 INTRODUCTION 3

FRANK ABOUT WOMEN > HOME OF THE SWANK

A BRIEF look aheadIn our previous chapters, we introduced you to today’s “SWANK” (SINGLE WOMAN, AFFLUENT, NO KIDS) Homeowner and gave you insight on how she approaches home ownership and building out her outdoor spaces, as well as how her shopping experiences differ from those of Single Men Homeowners and Family Women Homeowners. In this report, we’ll take a deeper look at Swanks and the role their homes play in their overall health. But first, let’s revisit the Swank.

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FRANK ABOUT WOMEN > HOME OF THE SWANK

Over the past several years, single women have become a significant force in home buying. In fact, they have consistently outpaced single men when it comes to purchasing homes — since 2001, about twice as many single women have bought homes as single men. While much has been made about the number of single women buying homes, little has been said about how these women behave after they’ve bought the home. So we here at Frank About Women decided it was time to investigate this important segment. Because we believe that single women will enjoy and improve their homes differently — and marketers across a huge range of categories will need to rethink how they connect with this critical consumer audience.

So who is the single woman homeowner? Though single women homeowners represent a hugely diverse spectrum of ages, life stages and socioeconomic levels, today we’re looking at Swanks. Think of the Swank as post-Sex in the City; instead of focusing her emotional energy on the quest for marriage, she owns her singlehood and the freedom it affords her. She’s highly educated, has a higher income, lives alone and has plenty of disposable income to spend as she likes.

Meet theSWANK

HOME AND the single woman

1 INTRODUCTION

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FRANK ABOUT WOMEN > HOME OF THE SWANK

To get a closer look at Swank homeowners and how they may feel, think, act and shop differently than their counterparts, we fielded a proprietary survey among 600 recent homebuyers. All our respondents had purchased a home within the past two years, all were aged 24–49 and all had a household income of $75,000 or higher. For the purposes of comparison, we divided the respondents into the following unique segments:

We asked these homeowners about a range of topics — from their motivations and emotions during the home-buying process, to their attitudes and experiences shopping as homeowners, and even to their participation in some emerging home trends. Compelling insights emerged — from life stage differences unique to today’s shifting landscape to classic gender divides. In this report, we will give you insight on how homeownership effects Swanks’ overall health.

OUR methodology

THE SWANK: She’s a single homeowner in the purest sense — regardless of marital history or relationship status, she’s currently living alone and purchased the home for herself.

THE FAMILY WOMAN: She shares her home with a partner/spouse and potentially some children. In a later report, we’ll take a closer look at “Moms” (those with a partner and kids in the home) as unique from “Coupled Women” (those sharing their home with a partner, but not kids). But for today, we’re looking at these Family Women as a whole.

THE SINGLE MAN: This is the male counterpart to our Swank. He lives alone and purchased the home for himself.

THE FAMILY MAN: The male counterpart to our Family Woman — he shares his home with a partner/spouse and potentially some children.

1 INTRODUCTION

600recent

homebuyers

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FRANK ABOUT WOMEN > HOME OF THE SWANK

HOMEHealthy

7HEALTHY HOME 7

FRANK ABOUT WOMEN > HOME OF THE SWANK

HEALTHY HOME,healthy life.With all the news about preventive health, we found that many believe that it starts at home. According to our research, home is where the soul and body go to refresh, renew and rejuvenate. Approximately 9 in 10 homeowners — whether male, female, living alone or not — agree that, “The environment in which I live can have a great impact on my overall wellness.”33

In their quest for a healthier home, today’s homeowners are considering purchases that will benefit them in terms of stress reduction, improved sleep, exercise, eating better and breathing better. And Swanks are no exception. Let’s take a closer look at just how today’s Swanks are approaching the healthier home.

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FRANK ABOUT WOMEN > HOME OF THE SWANK

about the Swank approach to a healthier home

1HOME IS WHERE THE HEALTH IS: They say home is where the heart is. So it’s probably not too surprising that a majority of Swanks (and respondents across all segments) noted a connection between home and health. Around four in five of our Swank homeowners said the most exciting part of buying a home was having a place of their own for relaxing and recharging.34

And over half of the Swanks we heard from said they’re willing to splurge more on home products that help them live healthier.35

2 IN SEARCH OF ZEN: With an increasing societal awareness of the connection between stress and health (just type “stress relief” into Google; the millions of recent links should be proof enough of the ubiquity of this trend), not surprisingly, our Swank homeowners cited stress reduction as a top motivator for a healthy home.36

It’s their castle, a fortress where they seek shelter from big stressors to small daily annoyances. When considering products to make their homes healthier, about two-thirds of Swanks said they are seeking products that help them reduce stress. 36

3 SEEKING MORE ZZZs: Sleep has been closely linked to overall wellness, particularly for women, and with an increased understanding of its importance, sleep has become a big business all on its own. Swank homeowners we heard from are definitely looking for more shut-eye. A better night’s sleep was another top benefit sought when considering home purchases — around two-thirds of all respondents want products that help them sleep better.37 Think new bed, mattress, pillow, bedding, linens, blackout blinds, noise machine, etc.

4 BUT SWANKS COULD BE DOING MORE: Yet interestingly, despite drawing a clear connection between home and health, almost half of Swanks haven’t made purchases to make their home healthier. 38 In fact, Swanks were the group least likely to have purchased in categories like major appliances, HVAC and fixtures for the purpose of making their home healthier.39 Clearly there’s an opportunity to further engage Swanks in the healthy home purchases.

FOUR TRUTHS

HEALTHY HOME

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FRANK ABOUT WOMEN > HOME OF THE SWANK

HEALTHY HOME

HAVE MADE A HEALTHY HOME PURCHASE

18%

more likely to

SEE A CONNECTION BETWEENHOME AND HEALTH

HAVE PURCHASED FURNITURE TO MAKE THEIR HOME HEALTHIER

PRIORITIZE BREATHING BETTER

HAVE PURCHASED PRODUCTS THAT MAKE IT EASIER TO EAT BETTER

32%

more likely to

28%

less likely to

15% less

likely to

29%

less likely to

HAVE PURCHASED PRODUCTS THAT MAKE IT EASIER TO EXERCISE

56%

more likely to

HAVE PURCHASED A MAJOR APPLIANCE TO MAKE THEIR HOME HEALTHIER

38%

less likely to

SWANKS ARE:

COMPARED TO SINGLE MEN

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FRANK ABOUT WOMEN > HOME OF THE SWANK

SHOW HER THE WELLNESS: Across our broader study, the connection between one’s home and one’s health was a theme with universal agreement, regardless of gender or life stage. And Swanks in particular were willing to splurge on a product that helped them live healthier. Brands that can draw a direct line between their product or service and her personal health and wellness will give her a reason to engage.

BE A ZEN EXPERT: We know from the research that all consumers, and particularly Swanks, want to swap stress with sleep, more exercise and better eating. No matter what your product or service is, keep in mind that her biggest driver in purchasing her own home is having a place for relaxing and recharging. How can your brand help her infuse greater mindfulness into her bedtime routines, eliminate stress from her mornings or even transform her home into a true wellness escape?

SHOULD KEEP IN MINDFOUR THINGS EVERY SWANK MARKETER

Want to talk about this more? Reach out to Cindy Abad-Mancheño or Shaun Stripling to see how Frank About Women can help your brand better connect with today’s homeowners.

MAKE HEALTHIER EASIER: While Swanks expressed an interest in products that make it easier to exercise more or eat better, almost half our Swanks have not made any purchase to support their healthier home. Consider how your product or service supports her healthier lifestyle — especially when it comes to diet and exercise. Take inspiration from Vitamix, a brand that showed just how splurge-worthy a superior smoothie is. Or, help her spot easy wellness fixes in unexpected places. As we mentioned in our first chapter, “Home of the Swank,” infrastructure is her least favorite investment. However, if infrastructure investments (duct cleaning, new windows, watering systems) were tied to improving overall health, they may suddenly seem much sexier and more urgent.

A HEALTHY BOOST OF CONFIDENCE: We also know from “Home of the Swank” that Swanks tend to feel less respected when shopping for a range of categories that can be connected to wellness, like major appliances and HVAC systems. Boost her confidence through improved customer service and intuitive online interactions with your brand, and you could open up an entire healthy home category to her.

HEALTHY HOME