By Vicki Matranga, Design Programs Coordinator
Learn how to develop and launch the right products for the right customer—with the right methods! Be sure to attend some of the free executive-level educational sessions at the Innovation Theater. These programs will give you a new perspective as you walk the Show and will inspire, inform and improve your business.
The four days of the 2015 International Home + Housewares Show will be packed with events and educational sessions. To help you plan your valuable time at the Show, we preview the 21 presentations that will take place in the Innovation Theater in the Lakeside Center. Don’t miss the chance to meet the speakers in person and for the opportunity to ask questions relevant to your work. All programs are audio-recorded and will be available on www.housewares.org after the Show.
Reengaging the Consumer
Saturday, March 7 1:30 -2:20 p.m.
Innovation Theater, Lakeside Center, Room E350
Today we are speaking with Debra J. Mednick, executive director and home industry analyst for The NPD Group. She is based in the Port Washington, N.Y. office of the global research organization. NPD operates offices in the U.S., Europe, Asia and Australia and provides information and guidance in many sectors, including automotive, apparel, sports and leisure, consumer products, food, fashion and technology. Mednick provides a comprehensive view of the market – along with her client expertise and strategic insights of market research. Regarded as the home industry expert, Mednick’s concentration is on uncovering emerging market trends, providing competitive threats and evaluating new client opportunities. She is credited with ensuring clients maximized use of their data subscription in the most efficient manner possible. In addition, she has effectively advised clients in seeking an enhanced approach to analyzing, reporting and presenting data to a variety of audiences.
Debra, what is the most exciting or rewarding part of your job? What inspires your passion in your work?
I have the opportunity to meet and consult with a variety of manufacturers and retailers in an industry that is near and dear to me, in which I’ve been involved more than 20 years, starting with my days at Braun appliances.
I’m motivated by clients in the home space – both manufacturers and retailers as well as the media who requests and appreciates not just the data I can bring from my company, The NPD Group, but, also my point of view and connecting the dots, if you will. By way of their demand, I’m motivated to keep it fresh – constantly working to bring new perspectives with the ultimate objective to help clients improve their business. There is also the sense of accomplishment when I’m able to bring new ideas, facilitate strategic discussion or simply affirm a client’s on the right path.
In the past few years, what has changed most in your business? How has your company met these challenges in the way you do your work?
NPD recognizes the needs of our clients to move quickly in today’s retail environment which means adjusting to the evolving consumer and the competitive environment. With that said, NPD is focused on bringing timely, actionable information and solutions to the industry, such as weekly and geographic-based data, to give our clients an edge in an increasingly competitive environment.
Tell us what you will be speaking about and how and this topic is important for Show audiences.
I will be speaking about reengaging the consumer in a vastly changed retail and brand landscape. In the past decade we’ve witnessed unprecedented change with respect to how products are brought to market; consumer influencers and motivators in a halo of seemingly limitless information and opinions ultimately affecting the purchase decision process. To stay competitive, manufacturers and retailers have realized the need to reflect on how they go to market. We’ll explore some examples of success stories as well as current trends across a variety of demographics to help guide building a winning business in home for the future.
What do you see as consumers’ biggest concerns regarding housewares products?
Quality is an overriding theme for consumers in general, not just in the housewares industry, as they have come to realize it may be a trade-off between price and quality. We’ve seen examples where consumers will pay 3-10 times the price for a product which they believe to be better quality, despite lower cost options being available.
What are some of today’s trends or issues that new product development professionals and/or retailers face in the housewares market?
Today, with the credibility of non-traditional selling formats (i.e. infomercials) a new product or company has been able to come in and handily steal significant market share in a category from long-standing, traditional heritage brands. By the same token, retailers are facing unprecedented competition with relatively new formats (i.e. pureplay ecommerce, TV shopping channels and buying direct). Manufacturers and retailers are finding it increasingly challenging to compete in this disruptive and changing retail world.
Thank you, Debra, for sharing your thoughts and giving us a glimpse of your work. We look forward to learning from your expertise at the Innovation Theater on Saturday, March 7 at 1:30 p.m.
Learn more about The NPD Group’s services at www.npd.com.
Contact Debra directly at:
Debra J. Mednick
Executive Director and Home Industry Analyst
The NPD Group, Inc.
900 West Shore Road
Port Washington, NY 11050
978-536-9120
debra.mednick@npd.com
