SOURCE: Moen Incorporated

Moen Incorporated

November 19, 2013 05:05 ET

Moen Watch 2014: A Daily Look at Research Shaping 2014 Consumer Behavior Trends

Wellbeing at Home: How Does Your Home Play a Role in Health and Wellness?

NORTH OLMSTED, OH--(Marketwired - Nov 19, 2013) - At Moen, the consumer is at the center of everything we do. We watch, listen and observe their daily interactions with water to develop products which make their everyday tasks just a little bit easier. But we don't stop there. Our Consumer and Market Insights group uses these insightful observations, along with industry news and home improvement forecasts, to develop over-arching consumer behavior trends which help our associates project "what's next" for the coming year. Is technology still invading every room in the house? How does your home play a role in health and wellness? Is urban development having an impact on the home improvement industry?

Questions like these, among many others, will be answered within the third annual Moen Watch report, our yearly preview of the most significant consumer behavior trends influencing our marketplace. We begin our first article, in a series of three, by looking at the concept of "Wellbeing at Home" -- the notion of how our homes play a role in health and wellness.

Wellbeing at Home: What Is It?
We're seeing it everywhere -- consumers have an increased focus on creating a healthy lifestyle. And it's not defined by an age or generation; however it can be impacted by life stage and current health. Good health radiates throughout many aspects of life with the center of activities focusing around the home. From the White House to your front steps, health is the new wealth.

"More and more people are striving to eat healthy, exercise more and live a balanced lifestyle between work, family and 'me' time," said Jack Suvak, senior director of consumer and market insights, Moen. "Why is this happening? There's actually not one single reason we can point to as the root cause. Rather, a few trends are having an impact here: access to information is improving, meaning we're all better in-tune with our health metrics and how they can be improved; the aging population wants to stay healthier; and finally, the cost of health insurance is rising faster than our paychecks. From 1999-2012, the average American workers' contributions to their health insurance premiums grew by 180 percent; however earnings have grown just 47 percent."*

Consumer Insights: Take Back Your Health
According to Moen® research, 64 percent of respondents to a recent survey said that it's "very important to actively take steps to improve their health." So if consumers are seeking more ways to create wellness in their lives, how are they doing it?

  • Start sweating with the easy stuff. According to Iconoculture, thirty percent of consumers are more likely to buy a product with add-on health benefits. And fortunately, that's easier to do than ever before. From hotels to chewing gum (yes, chewing gum), healthy features are being added to a wide variety of products.
    • Stay Well Room at MGM Grand - this first-of-its kind hotel room features such health and wellness amenities as advanced room lighting to improve the sleep/wake cycles of our internal clocks and regulate melatonin production; shower water infused with vitamin C to neutralize chlorine, promoting healthy hair and skin; exclusive access to software developed by the Cleveland Clinic and even an in-room Wellness Channel with an education video by Dr. Deepak Chopra.
    • Viking Plasmacluster Ion Air Purifier - similar to room air purifiers for the home, a Plasmacluster Ion Air Purifier inside your refrigerator helps eliminate odors associated with airborne pathogens, such as bacteria, viruses, mold and fungi, helping food to stay fresher, longer.
    • Faucets with Microban® - Moen is utilizing technology from Microban International, Ltd., the global leader in built-in antimicrobial product protection, to help keep select kitchen and bathroom faucet finishes visibly cleaner and resist stain-causing bacteria. To help inhibit the growth of stain- and odor-causing bacteria, mold and mildew, Microban antimicrobial protection has been added into select Moen bath and kitchen faucet finishes.
    • Trident Vitality® - adds a bit of well-being to the gum-chewing experience, with Vitamin C, ginseng or white tea infused into each piece. One piece of Trident Vitality contains 10 percent of the Daily Value of Vitamin C.
  • Start sweating. Period. Once the simple stuff has been tackled, it's time for consumers to start sweating -- literally. And we're seeing a shift in where people are exercising. Health club membership revenue has actually declined, and Moen research discovered that more consumers (49 percent) are exercising in and around their home.
    • In 2011, consumers spent $3.4 billion on home exercise equipment, with a 7.3 percent increase on elliptical machines.**
    • The number of runners has increased dramatically -- from 30.4 million in 2007 to nearly 40 million in 2011.***
    • Twenty-seven percent of home equipment dollars are spent on treadmills.**
  • Wellness + Technology. The final significant finding in regards to Wellbeing at Home is about technology. According to Jim Carroll, a futurist, trends and innovation expert, 78 percent of consumers are interested in mobile health, wellness and fitness solutions. In fact, wellness is the third fastest growing app category. There were 154 million downloads in 2010, and that number is expected to rise to 908 million by 2016. Today's Fitbit is tomorrow's fit chip.
    • Fitbit Force™ - this sleek wristband tracks steps taken, distance traveled, calories burned, stairs climbed and active minutes throughout the day. At night, it tracks your sleep and wakes you silently with a vibrating alarm.
    • Electronic Tattoos - in the future, temporary electronic tattoos that monitor wellbeing are being developed and tested, paving the way for future connected healthcare networks.

"The concept of Wellbeing at Home is one that is constantly evolving," concluded Suvak. "We face challenges like obesity, diabetes and hypertension every day, coupled with an aging population and rising healthcare costs. However, the opportunities here are virtually endless -- from products infused with wellness benefits, to fitness products for the home and technology-enabled wellness. Wellbeing at Home is most certainly not a trend that will be fading away anytime in the foreseeable future."

For more information about consumer behavior trends from Moen, visit moen.com.

* The Washington Post (9.11.12)
** Exercise Equipment SFIA 2012 Manufacturer Sales (ORC)
*** National Sporting Goods Association 2011

About Moen
As the #1 faucet brand in North America, Moen offers a diverse selection of thoughtfully designed kitchen and bath faucets, showerheads, accessories, bath safety products and kitchen sinks for residential applications -- each delivering the best possible combination of meaningful innovation, useful features, on-trend styling and lasting value. In addition, Moen® Commercial offers superior performing products that deliver lower lifetime costs for today's facilities.

Moen has worked diligently to support, promote and advance sustainability within the organization and the plumbing industry. The company has been recognized with the 2011 EPA WaterSense® Excellence Award, as well as the 2010 EPA WaterSense Manufacturer Partner of the Year Award, for its work to protect the future of our nation's water supply through the introduction and ongoing support of water-efficient products, programs and practices, while keeping consumers' needs top-of-mind.

Moen is part of Fortune Brands Home & Security, Inc. (NYSE: FBHS), which creates products and services that help fulfill the dreams of homeowners and help people feel more secure. The company is a leader in the home and security industries and features well-known and trusted brands like Moen® faucets, Master Lock® padlocks and security products, MasterBrand Cabinets®, Therma-Tru® entryway systems and Simonton Windows®. For more information, please visit www.fbhs.com.

WaterSense is a registered trademark of U.S. Environmental Protection Agency (EPA).

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