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The Business of Home: Interior Design Industry Outlook

The home interior design industry shows positive signs for recovery from the impact of Covid-19, emerging stronger and more adept.


The interior design industry shows positive signs for recovery from the impact of Covid-19, emerging stronger and more adept in responding to critical issues that have emerged in 2020. According to AISD, “Spending in the residential market had sustained the industry overall, balancing the drop in the commercial sectors.”

As more people continue to spend more time at home, residential interior design will gain more interest –– from color theory and industry trends to redesigned floor plans and more. Many people have realized, through their increasing time spent at home, a desire to create a space that is truly enjoyable.

 

The evolution of home interior design

Interior design is comprised of many specialized fields – residential interior design services (i.e., home interior design) being one of the most recognizable.

Rising interest and investment coupled with an incredible amount of necessity and opportunity has resulted in industry renewal as home interior design re-establishes itself as a leading design specialty.

As the industry continues to evolve, interior designers have redefined their roles in the profession, with many of them reassessing what it means to be a professional interior designer.

Interior designers are tasked with creating interiors that are not only aesthetically pleasing with the use of decorative furnishings, colour schemes, lighting, and materials, but also to ensure that spaces are versatile, functional, efficiently laid out, and safe for daily living.

They are also expected to be skilful in technical drawing and space planning. Residential interior designers must be able to read blueprints, design with building codes in mind, utilize universally accessible standards, and more.

Similarly those who work within the interior design industry are expected to leverage innovations that are both sustainable and meaningful.

 

Home improvement consumer spending is on the rise

Homeowners are spending more time and money on their homes. For example, home improvement consumer spending is on the rise. The average annual home improvement expenditure per homeowner amounted to 7,560 U.S. dollars in 2018, up from about 6,650 dollars the year before. Over the last year, UK home improvement spending reached £55 billion. Furthermore, home improvement investments are up 12% in average expenditure per household.

At the onset of the pandemic, most home improvement retailers were classified as essential, therefore allowed to remain open. They weren’t hit with the immediate influx of demand from panic buying, but as consumers came to realize spending more time at home wouldn’t be as temporary as initially thought, categorical demand began to increase.

 

Meeting the needs of residenital interior design clients

What is your design personality? Getting to the crux of what defines a client’s interiors style is the key to success in todays residential interior design market. The aim is to design the perfect space for existing homes that is livable and easily maintained overtime.

Although professionally executed home interior design should be attractive as well as efficient, interior design encompasses much more than styling or decorating.

When it comes to residential homes, interior design professionals and products must meet the needs and tastes of end user clients. Furniture, flooring, rugs and cabinetry are key ingredients of well-designed homes. Research into what people want in their home designs is a necessary component of the industry.

Top interior design professionals create finished living spaces, decide on the best furniture placement, lighting and storage options and use their knowledge of building codes to merge style and function.

A renewed focus on home design has grown with relative ease and is definitely a space to watch in the coming years as more people seek to improve their spaces.

 

Craig Lebrau is the CMO of Media Insider, a Wyoming-based PR company that aims to disrupt the way companies communicate their brand in the digital era.

 

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Photo: Vladimir Gerasimov, YFS Magazine, Adobe Stock
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