Find Inventive & Practical Solutions for HENRYs

Furniture World News Desk on 4/11/2019

Pam Danziger, the luxury marketing expert, president of Unity Marketing and Furniture World Magazine contributor defines HENRY's,   High-Earners-Not-Rich-Yet consumers, as having household incomes at the top 20% of the U.S. overall. HENRYs are defined by their income, ranging from $100,000 to $249,000 and control some 40% of all consumer spending. HENRYs have an average income nearly twice the national average, meaning more money to spend.

Those HENRYs walking the aisles of your furniture store or scrolling past enticing photos of comfortable rooms settings on your website already know that their home is important to them.  They wouldn’t be spending their limited and valuable time shopping with you it they weren’t looking for tangibles—a dining table, a desk, a TV cabinet—but they are also looking for the intangibles of style, familiarity, comfort, and a personal fit.
    
In other words, they’re looking for solutions.

Every step of relationship-building with young ambitious HENRYs must be grounded in solid ideas that are both inventive and practical, and that offer real-life answers to real-life questions.  Savvy HENRYs also want you to look beyond the demographic: their collective profile is made up of people with and without children, gym rats and homebodies, fans of The Walking Dead and fans of Lip Sync Battle—in other words individuals. They want style, value, and something that makes their own life at home measurably better.

For many HENRYs, for instance, fitness and health are a top priority, whether that means playing on a sports team, paying attention to healthy food options, or working out every day. As consumer-driven innovators, we take that knowledge and turn it into solutions in the form of home furnishings and features that are meaningful and relevant, such as our line of adjustable height desks.
    
Another example: although they rely on technology in virtually every aspect of their lives many HENRYs are traditionalists at heart, putting a high value on family time, romantic moments, and faith. Those insights translate into the creation of an electric fireplace insert that can hang on a wall, fit in a fireplace opening or an entertainment cabinet outfitted with streaming-enabled speakers.
    
HENRYs also know the value of a dollar—don’t forget that part of their acronym means “not rich yet”. Finance-tracking and investment apps rank high on their smartphones and they are attracted to bargains and clever money-saving solutions. Something as a simple as a stylish electric heater that looks like a romantic lantern and cuts heating costs can capture their imagination. Bells and whistles go a long way.
    
Bottom line: hardworking HENRYs have high expectations and are used to applying solution-based thinking at work. Meet them more than halfway with creative design options that work hard, look good, and make their lives better.

About Lisa Cody: Lisa Cody, VP Marketing, Twin Star Home, has over 25 years of consumer-focused marketing expertise with Fortune 500 companies. Lisa’s focus is leading a consumer-centric team that delivers creative solutions to drive growth for retailers and Twin Star Home, the market leader in electric fireplaces.