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A new generation of consumers

Ingka Group's Belén Frau gives keys to understanding the 'Meaningful' generation

The world around us is evolving at a rapid pace, with every generation leaving its unique mark on the canvas of time. The Ingka Group (largest IKEA retailer that represents about 90% of IKEA retail sales) has been paying close attention to a new generation of consumers – the Meaningful generation.

Rooted in core principles, this generation is reshaping our world through democratic design and meaningful affordability. But what really defines the Meaningful generation? Belén Frau, Global Communication Manager at Ingka Group, gives her opinion.

Here are five distinguishing traits:

Democratic design
Meaningful generation passionately believe that good design is for everyone, and not just an elite. They seek out products that bring form, function, quality, and sustainability, all at an affordable price. Their mantra? Access to Design should not be a privilege of a few. Echoing this sentiment, the recently launched Life at Home Report 2023 revealed that 25% of people feel that being able to express their identity in their home is a key element to feeling a sense of belonging where they live.

Meaningful affordability
For the Meaningful generation, affordability is not just about low prices. It is about value, longevity, and making mindful choices. They are ready to invest in pieces that are sustainably produced, have a longer life span, and align with their values. Embracing the second-hand market, they find unique items that carry stories and contribute to a sustainable lifestyle. They see beyond the price tag, looking for the story and the impact behind every purchase, and the values behind every brand they engage with. This perspective is mirrored in a recent finding where 1 in 3 people say it is the things in their home that help recall memories or experiences that are important to make the home reflect who they are. It highlights the Meaningful generation's focus on purchases that are not only economically wise but also emotionally connecting.

Sustainability as second nature
Inheriting a world grappling with environmental challenges, Meaningful generation has a keen sense of responsibility towards the planet. They prioritise products that reduce waste, champion recyclability, and have a minimal environmental footprint. Their choices reflect a commitment to a better tomorrow, making sustainability more than just a buzzword; it is a way of life. This commitment is getting more relevant in the broader community, with 2 in 10 people stating that an important part of their ideal home would be to help them live sustainably.

Adaptable living
The Meaning Affordability generation values flexibility in their living spaces. Whether it is a multi-functional piece of furniture or a modular kitchen setup, they lean towards solutions that can adapt and evolve with their changing needs. Space is not just about size; it is about how efficiently and fluid it can be utilised. This notion is supported by recent findings where already 15% of people said having dedicated spaces for different needs helps them to feel content and at ease at home.

Community and collaboration
Meaningful generation thrive on community and collaboration. They share DIY (Do It Yourself) hacks, co-create solutions, and believe in the power of collective ideation. Their approach is not just about personal fulfilment; it is about elevating everyone around them, making the world a more connected place and sharing and engaging within communities empowered by digitalisation.

More information:
Ingka Group

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