IHA connected with trends expert Norbert Herzog with GfK in Germany to hear about his perspectives on global appliance trends which he will discuss at the 2019 International Home + Housewares Show. At the Show, the Innovation Theater will feature 21 presentations over four days. Topics discussed will include design innovation, smart home, digital commerce, and global market trends.
Norbert Herzog, senior strategic insights manager in GfK’s retail and technology division, is a recognized expert on market trends in the home appliances and durable goods area. His team provides fact-based strategic analytics by integrating multiple sources of GfK research, including unique global point of sale tracking data and consumer studies. The team transforms rich data into relevant insights on how the markets are changing and the directions they are evolving. Norbert’s’ professional focus is on the small and major domestic appliances business.
GfK was founded in 1934 as the “Verein for Consumer Research.” The mission was simple: “Make the consumers’ voice heard” and has guided the company’s thinking ever since. Today GfK operates in more than 100 countries and serves clients in 140 countries globally. By connecting data and science, GfK’s innovative research provides answers to key business questions around consumers, markets, brands and media – now and in the future. As a research and analytics partner, GfK promises its clients all over the world “Growth from Knowledge.”
Norbert, what is the most exciting or rewarding part of your work? What fuels your inspiration?
I guess I am a very curious person and I strive to connect the dots of insights from GfK data and relevant business questions. The global strategic insights team is enabled to deliver this. After working in the area of home appliances for many years it was a real inspiration to team up with the experts from all other businesses to develop a broader understanding of the trends in the Technical Consumer Goods(TCG) area overall. This collaboration also brings insights about home appliances markets to a new level.
Most inspiring is very tight connection to market experts all around the world. It’s a pleasure to condense and enrich their expertise at a global level. I really enjoy this front row seat to market trends and shaping those into relevant answers for GfK clients.
Any tips for how to de-stress and find personal time and balance in the demanding 24/7 workplace?
For me it is about the passion to learn about all the new developments in markets, retail scenes, technology and consumers. Here both private and business themes overlap and the passion continues after working hours. This helps me not to feel stressed but inspired by the work we do.
This is your first time presenting at our Theater. What are you looking forward to most from speaking at the Innovation Theater?
The International Home + Housewares Show is a leading global event. While GfK does not have a small appliance point-of-sales tracking operation here in the United States, the Show serves as a forum for us to meet with other industry leaders including global clients and those interested in expanding to regions such as Latin America, Europe, Africa, and Asia.
Home Appliances and Emerging Trends—A Global View Today
Innovation Theater • Lakeside Center • Room E350
Sunday, March 3 1:30 – 2:20 pm
Tell us what you will be speaking about and how and this topic is important for Show audiences.
I’ll offer a global perspective on the trends shaping markets today and tomorrow. To start with, I believe it is enlightening to look at the wider market of technical consumer goods and find common trends that appear. Although the trends are omnipresent, they translate differently per product group.
Capturing the context of these trends and how they manifest in small domestic appliances helps to evaluate future scenarios.
Consumers are looking for rich and exciting experiences in premium/high performance products. Coupling this with the expectations of fully connected customers leads to plentiful opportunities for retailers and manufacturers to deliver innovation.
What do you see as consumers’ biggest concerns regarding housewares products or how to shop for them?
In our opinion, the outlook is less one of concern but is more positive about consumers’ enthusiasm for owning housewares products that were not previously affordable or that are based on new innovations to drive lifestyle and self-image while providing convenience and time-saving solutions.
What are some of today’s trends or issues that new product development professionals and/or retailers face in the housewares market?
The main trends that drive the markets for housewares are premium lifestyle products, high performance, full connectivity and the rise of emerging economies with enough disposable income to own more and different houseware products.
Thank you, Norbert, for your enthusiastic insights about global consumers and their attitudes and desires for new appliance products. We look forward to learning from your recent data and interpretations.
Learn from experts about how to invigorate your new products and services by enhancing your innovation efforts. Be sure to attend the free executive-level educational sessions at the Innovation Theater to hear about the latest research and analysis of consumer lifestyle trends and omni-channel marketing challenges. These programs will give you a fresh perspective as you walk the Show and will inspire, inform and improve your business. All programs will be audio-recorded and will be available at www.housewares.org after the Show.