Building for the More Confident Affluent Consumer
Posted by: The Thermador Team
10.08.2014
In September 2014, builder confidence in the U.S. new single-family home market was up for the fourth month and at its highest point since November 2005. The homebuilding and supplier industries are projecting optimistic forecasts over the next few years as the homebuilding market continues to rebound.
This confidence in the nation’s economic prospects and business conditions is not only being felt by the most affluent of the market, but also the high earners who will soon be among the ultra-affluent. Known as HENRYs (High Earners Not Rich Yet), they represent a population of 21 million and earn an estimated $100,000 – $250,000 per year. This large demographic of high earners are the future affluent homebuyers in the U.S and is increasingly becoming a more important focus for the affluent market.
As both the affluent and the HENRYs make plans for their future dream homes, there has been a shift in their thinking. They are no longer attracted to brands solely based on status or name recognition. Now brands must provide an experience that can be personalized, and tailored to their needs. The product has to deliver in a way that uniquely fits into the homeowner’s lifestyle.
This means that simply “customizing” a home to the homeowner’s color preference or material preference will not suffice—the entire home, inside and out, needs to be completely unique to the homeowner’s lifestyle. And, because we know that culinary pursuits and gourmet cooking are a core component of the affluent lifestyle, the kitchen is among the most critical spaces in the home to personalize for satisfy the culinary enthusiasts.
At Thermador, we offer two distinct appliance lines to ensure culinary enthusiasts enjoy the power and performance of our innovative cooking appliances and compliment every kitchen design.
For a bold standout in a traditional kitchen, our Professional® Series appliances feature stainless steel exteriors, restaurant style knobs and handles, and truly become the focal point of the room.
For cooks who desire the look of a contemporary or transitional kitchen, the sleek design and outstanding performance our Thermador Masterpiece® Series is a perfect complement, with fully flush installation that allows the appliances to virtually disappear for seamless integration.
Unlimited flexibility in both design and function, our Freedom® Collection line of built-in modular refrigeration is the ultimate appliance when it comes to making a truly personalized kitchen experience. The Freedom® Collection refrigeration empowers homeowners, their designers and builders to configure the kitchen in a way that provides more access to their cold storage items near their preferred preparation station. But, for the truly personalized kitchen, this refrigeration line enables you to be creative with the installation. No longer is it expected to place a custom panel on the door—homeowners want cutting-edge materials and a build-out so unique to their lifestyle that their kitchen could not be replicable in another home.
Gone are the days of the traditional side-by-side installation, as now homeowners want more food storage to suit their home entertaining needs and to maintain the freshness of their locally sourced ingredients. Whether it is placing a fresh-food column alongside a wine column or columns placed in unexpected locations around the home for that extra “WOW” factor, such as a media room or in-home bar pub, the possibilities are limitless when it comes to pleasing the affluent homeowner and inspiring the next generation of affluents already on the rise to the top.