Analyst estimate that during period between 2007 and 2012, global household growth went beyond the population growth. Through that time, worldwide household rose by 9% to 1.9 billion. Last year China topped the statistic with 434 million households. Second and third were India and US with respectively 434 million and 233 million homes.
The household growth rate was highest in developing markets like Thailand, Mexico, Malaysia, Turkey and Venezuela. The average household members’ number did not change. Actually most of the countries faced a modest decline. On global level, the average number of household members stood at 3.7.
The shrinking size of households is mostly on the back of falling birth and marriage rate. Currently most people get married and have children in later part of their life. This trend adds to the growing number of single-person households. The shared households of unrelated occupants also rise in effect.
Analyst highlight that there is also an important householder’s behavior change. More people not only chose smaller homes but also untraditional ones. The number of apartment dwellers also tends to grow. Fewer consumers are buying while more are renting.
Here are two of the latest trend shift which caused significant effect on household Structure:
1. Meal trends
Estimates show that 85% of household couples prepare their food themselves. About 60% use raw ingredients to cook. Meantime singles eat out at least two times per week. This trend takes a 68% share of single households in China and 88% in Indonesia.
2. Shopping trends
For both single householders and families, price is a major factor. However, partner occupants tend to go for fair-trade and eco-friendly goods.
Considering these trends is vital for creation of new marketing opportunities. Owners of small households will need smaller portion foods and appliances that take less space. Singles are going to spend mostly on clothing, leisure and eating out. They will put more money into organic foods and luxury experiences. Families will keep their interest for discounts, deals and bargains. Gardening, home and health care products will keep their popularity among aging householder.
