IKEA Releases 9th Annual Life At Home Report

The cost-of-living crisis hits home, as the economy and household finances outrank climate change as people’s top concerns globally 

• IKEA has revealed over half of Brits (58%) are concerned about household finances, more so than climate change
• As a result of financial worries, over a third (39%) expect to cancel or postpone home improvements
• Meanwhile, more than a quarter (29%) admit to faking excuses so they can avoid going out, while 13% are anxious about job security
• It comes as the retailer launches its ninth annual Life at Home Report

IKEA has today released its 9^th annual IKEA Life at Home Report. Surveying 37,000 people in 37 countries worldwide, the report provides a unique snapshot of home lives across the world.

The IKEA Life at Home Report – Key Findings 

According to the report, 3 in 4 Brits (75%) claim the state of the economy is their greatest concern, with household finances (58%) close behind as inflation continues to soar around the world. Despite outranking the worries of climate change, 57% agree that the rapidly changing environment is still weighing heavily on their minds.

Given increased living expenses, the report points to significant impacts on life at home on the horizon. Over a third (39%) expect to cancel or postpone home improvement plans, while 13% are worried about job security. The cost-of-living crisis is also likely to affect major life moments, with almost 1 in 10 (7%) anticipating its impact on getting married and having children.

The outlook for people’s day-to-day quality of life is equally concerning, with exactly half of those surveyed expecting their hobbies and interests outside the home to be negatively impacted as wallets become thinner – an indication of a potential ‘financial lockdown’.

Marcus Engman, Chief Creative Officer at IKEA Retail (Ingka Group), says, “The Life at Home Report results are a crucial moment every year at IKEA. They help us to realise our vision to create a better everyday life for the many people. The insights influence everything from our product range, to initiatives like IKEA Festival, to the social impact campaigns that we run.”  

The Impact on Home

The report shows that 23% have eaten a meal in bed during the last 12 months, while 7% have worked in the bathroom as our homes continue to be multi-functional spaces where we work, rest and play. And more than 1 in 4 people (29%) have faked excuses so they can avoid going out to stay at home, increasing to nearly 4 in 10 among young people. 

Katie McCrory, who leads the Life at Home Report at IKEA, says: “After years of enforced lockdowns, now followed by the cost-of-living crisis, people will likely feel the need to stay at home once again to save on costs, meaning our spaces need to work harder than ever. Yet worryingly, only half of us (56%) say we experience enjoyment where we live and 4 in 5 people say they regularly feel frustrated by everyday gripes such as mess, household chores and too much clutter.” 

It's not all doom and gloom, however. The report also reveals that if your home reflects your personality, you’re almost twice as likely (1.7 times) to see it as a source of mental wellbeing.

Pets and plants continue to be important members of households, and as many as 12% of people say they have talked to their plants in the last 12 months. Overall, nearly 1 in 3 say they feel more positive about their home compared to the same time last year.  

“There are tried-and-tested ways that we can showcase our cherished items and optimise our space so that the home we live in reflects us. We know from years of doing the Life at Home Report that the better we feel about home, the better we feel about ourselves”, added McCrory.

Helping the many people to create a better everyday life at home, IKEA offers a range of products, solutions and programmes. From savvy schemes that give furniture a second life, to sustainable products that support climate change: 

• Circular Hubs both online and in store allow customers to buy used products to help reduce waste.
  
  
• Life at Home expertise provided by co-workers in-store, on everything from space saving design solutions to more sustainable products that help to reduce waste and / or minimise household costs. Each year IKEA carries out hundreds of home visits around the world. The data and insights collected then work as input when new IKEA products and services are developed.
  
  
• BuyBack & Resell scheme sees IKEA purchase customers’ used IKEA furniture and restore them to resell, giving chairs, shelves, chests of drawers and other furniture a longer lease of life.
  
  
• Comprehensive warranties of between 10 and 25 years for defects in materials, workmanship and function across bedroom, living room, bathroom and kitchen furniture and fittings.
  
  
• Suite of sustainable products that help people to adopt a more environmentally friendly lifestyle to support climate action, as well as saving money, including LED lightbulbs, rechargeable batteries, water-efficient taps and home solar solutions. 

Find the full report here.

Source : IKEA

For all the very latest news and intelligence on the UK's largest home improvement and garden retailers, sign up for the Insight DIY weekly newsletter.