The millennial generation is the largest American generation, with over 80 million people spread across the United States. While this group often takes flak from the Boomer generation for moving at a different pace than they did, current statistics show that this trend is shifting. The eldest of the millennial horde are finally reaching a place in age and financial security to consider buying a home. For most millennials under 40, this is or will be their first time purchasing a home.
The generation before millennials could purchase a home with a high school diploma and minimum wage job. On the other hand, most millennials see homeownership as a pipedream, despite being significantly more educated than their predecessors. As it now stands, millennials currently out-earn any other generation. This higher education and more significant wealth accumulation channel this generation’s spending power into investing in homes and making them comfortable, including expanding patio backyards.
This surge in home purchases, combined with a global pandemic that forces people to spend more time at home than ever, has caused a massive increase in demand for home decor and furnishings for inside and outdoors. This article will explore what home decor trends are most popular amongst the millennial homebuying crowd in 2021.
The Industry is Growing with the Demand
Demand for outdoor furniture in the United States, such as grills and accessories, is expected to drive the industry to $9.1 billion by 2019. Now, more than ever, consumers can do online research to ensure they’re buying the best outdoor furniture. Additionally, people are spending more disposable income to create these outdoor living spaces.
Reports show millennials are the fastest-growing segment; this growth is encouraged because this age group is beginning to build families and homes. In 2014, millennials accounted for 37% of outdoor furniture sales. They are redefining how they relate to the space around them, both indoors and outdoors.
Millennial Minimalism – Less is More
This generation has a fond affinity for minimalist designs and aesthetics. They are asking for their homes to be comfortable, visual, and functional. Consumers aim for the most decorative bang in their minimalist-decorated dwellings, looking for statement pieces that can virtually stand on their own. Maybe Marie Kondo is to blame for encouraging us to transform our lives by tidying up our spaces.
Perhaps we grew up watching futuristic cartoons that made technology and minimalism seem very appealing and progressive. Whoever is to blame, we know that minimalist designs are popular amongst millennials and that home decor purchases match this trend. With new ideas about how people relate to their space and emphasizing the room’s architectural elements, minimalist decor and furniture have seen a surge in popularity in the United States and worldwide.
Merchants who supply modern minimalist designs show a higher sell-through rate than merchants who carry more traditional or antique style decor. The benefit is that most modern minimalist decor is relatively inexpensive and easy to produce en masse. These stylistic preferences hold for indoor spaces as well as outdoor patios and backyards. Sleek, functional, and minimally designed furniture and appliances are all the rage in outdoor home decor.
Multi-functional Furniture and Appliances
Not only is the millennial generation a fan of the minimalist mentality, but they are also all about practicality in their products. Millennials are more likely to invest in products that serve more than one purpose; the classic “bang for you buck” mentality. This logic seems doubly right for outdoor furniture and decor, which resulted from people stuck at home because of the pandemic and have exploded in sales over the last year.
When looking for outdoor furniture and appliances that serve several purposes, the bar for what constitutes “multi-functional” is relatively low. This tech-savvy generation is not looking for a refrigerator that can tweet and play Skyrim. They are looking for something more along the lines of a barbecue that is also a smoker, or a fire table, which is a fancy way of saying a “coffee table with a built-in fireplace.” Fire pits are also a great multi-functional accessory, as they provide a place to gather, a source for heat, the perfect setting for a ghost story, and the best way to cook a s’more.
Environmentally Friendly Furniture
Millennials as a group are more conscious of the planet and the current climate crisis. Millennial consumers factor their carbon footprint into the decision-making process when buying outdoor furniture, and they love a product marketed as being friendly to the environment. They consider how the piece is made and what will become of the work once discarded. According to a recent Furniture Today survey, 70% of people said they would be willing to spend more on outdoor furniture if environmentally friendly materials and processes the manufacturer uses.
When looking for your next environmentally friendly piece of outdoor furniture, focus on the materials and processes used in manufacturing. Responsibly sourced woods and metals are what you are looking for. Woods such as bamboo, oak, mahogany, maple, and pine are l incredibly sustainable and affordable. Avoid purchasing wood furniture made of teak, wenge, Merbau, or ebony, as these are all rare, expensive, and endangered. Bonus points if you can find a piece made of reclaimed or recycled wood materials from lumber yards and salvage. Metal furniture made from steel or aluminum is ideal for its weather-resistance and because it is affordable and recyclable. You can also find some companies that offer outdoor decor and accessories made from recycled fabrics.
Grilling Gadgets, Gear, and Gizmos
One trend that seems to transcend generations is the love of the grill and grilling products. However, with millennials, the passion for good food and fine dining at home is taken to a whole other level. This generation of people who grew up watching cooking competition shows like significant sporting events. With chefs becoming celebrities, affordable kitchen gadgets, and the explosion of Instagram food pictures, it’s no wonder we have a generation of talented home chefs and bakers.
Buying trends over the last few years indicate an increase in popularity in the grill and barbecue space and for smokers, pizza ovens or stones, fire pits, flat-top grills, re-circulators (for sous-vide), and Mongolian BBQ grills. All of these can be installed in your backyard or outdoor kitchen to improve your outdoor cooking game. That said, not all millennials are food-fanatics. A large part of the generation will be more than satisfied with a more straightforward all-in-one barbecue grill and all that it can do. You get bonus points for getting a mobile unit and has wheels so you can transport it as you see fit.
Bringing the Indoors Outside
Arguably the most popular new trend in outdoor decor is the concept of bringing the full feel of an indoor room to your outdoor space. This aim can be accomplished by assembling a collection of outdoor furniture such as chairs and couches alongside durable outdoor rugs, tables, and comfortable throw pillows and blankets. Ceramic lamps are often used for their durability to bring light to an outdoor room so that you and your family can enjoy the outside into the night.
A variation of this popular trend from 2020 that is carrying into 2021 is the outdoor kitchen. Millennials are building kitchens outdoors to really up their outdoor cooking game. These outdoor kitchens can be simple builds that feature a grill and a stove, while others can be as loaded or more so than the indoor kitchen. Refrigerators, beer taps, pizza ovens, smokers, microwaves, dishwashing machines, and more can be installed in an outdoor kitchen. Don’t forget to install and fully stock the bar, and you are set for any party or gathering.
No outdoor kitchen, bar, or space is complete without a television. Televisions specifically built for outdoor exposure are available for the discerning customer. The millennial generation is famous for binge-watching television shows, and I don’t think being outdoors will stop that. Speakers, audio systems, smart speakers, and other gadgets can be installed on your patio for the ultimate in outdoor comfort.
People want the green look, feel, and texture of plants without the hassle and maintenance worries. Artificial plants give it to them. The Millennials are massive travelers and don’t want to worry about watering them or having space without great lighting. Artificial plants always look perfect and have that feel of foliage.
The Season of Change
Spring is the time of year where the most considerable portion of customers chooses to refresh their living spaces. Maybe it’s the “spring-cleaning” bug that does it, but nearly one-fourth of people do upgrades during this time of year. Millennials are no exception. If you are a patio furniture retailer trying to capitalize on this generation and its trends, you still have some time to get up to speed with your product offerings.