Skip to content

Building Insights for the Home Consumer

“We’ve seen some unprecedented times,” says Tsoncheva, speaking about the market in general. “Specifically in how we understand the home. The home has been completely redefined by COVID. Some of us had to stay at home and work remotely. We also had to become teachers and babysitters. We really had to make the home this central place where we do so many more functions than just live in it. You need to have an office. You need to have an entertainment place. You need to have your gym. You need to have a place to live, of course. We just added so many more functions to the home. It was a huge time for us because everybody was doing some projects. Whether it was just a small refresh or I’m making my office space a little bit more convenient or I’m building a whole new deck.”

With that assessment of the past from a business perspective, it raises some questions about the present and beyond. Yet, now in this moment, what is that consumer telling you?

Tsoncheva notes, “What’s happening is what we call pull forward. So all of these projects that they were thinking of maybe doing in the future, they put it forward and did it earlier during the COVID years. Now, what’s happening is that we’re seeing consumers focusing on smaller projects. A lot of people still work from home. This is still a dynamic. I need to still maintain and make my home my sanctuary, but at the same time, I’ve done the big things. So I’m going to be transitioning to smaller projects. This is a trend that we’re seeing right now.”

The present time still seems a bit uncertain, with macroeconomic factors. Inflation. Consumer confidence. Unemployment. The housing market. How can you possibly separate the signal from the noise?

“It’s a very challenging task,” she says. “And it’s not just for the Home Depot or the home improvement industry or us as insights professionals. Tell me what’s going to happen in three months, six months, a year down the road. It’s very difficult to forecast now, not just from a financial standpoint. But consumer behavior. We thought that consumers were kind of stable when we could predict their behavior before COVID. Now everything has changed. The economy has become outside of COVID, and become a really big factor. You have conflicting signals in terms of inflation, mortgage rates, interest rates, everything is moving up or down. It’s very difficult to update all of these models that we’ve had in the past that were used to certain economic and consumer behavior.”

Speaking of data and analytics models, how does AI come into play now? Has the research aspect changed since the housing marketplace and other economic indicators have also changed so dynamically?

Tsoncheva points out, “We implement machine learning in almost all of our models. We’re using AI. We’re using more innovative methodologies, really tapping into the subconscious with system one but also system two methodologies. To really understand not just what people are telling us, what they are going to do, but what they really feel and think. We’re connecting all of these methodologies to try to predict what’s going to happen. And it’s still extremely hard because it all depends on what’s going to happen with the economy.”

Check out the video for more on Seth Adler’s conversation with Daniella Tsoncheva, as they discuss the outlook for the rest of this year of uncertainty, building the foundation, supporting environmental and social governance initiatives and more.

Contributors

  • Seth Adler

    Seth Adler heads up All Things Insights & All Things Innovation. He has spent his career bringing people together around content. He has a dynamic background producing events, podcasts, video, and the written word.

    View all posts
  • Matt Kramer

    Matthew Kramer is the Digital Editor for All Things Insights & All Things Innovation. He has over 20 years of experience working in publishing and media companies, on a variety of business-to-business publications, websites and trade shows.

    View all posts

Related Content

Finding an Insights Strategy

An insights strategy is a comprehensive plan that outlines how an organization will leverage insights to drive business decisions and achieve strategi…

 
 

More Related Content

A needle in a literal haystack!
consumer insights

Finding an Insights Strategy

An insights strategy is a comprehensive plan that outlines how an organization will leverage insights to drive business decisions and achieve strategi…

Thumbs up or thumbs down on a variety of customer service questions like quality, reliability, etc.
human insights

Driving Innovation and Consumer Loyalty

TMRE 2024’s day two, track three brought a fresh take on how brands are navigating the evolving landscape of consumer insights. Sessions explored leve…

A 'robot' data-like hand shaking the hand of businessperson.
artificial intelligence

The AI-Enhanced Research Revolution

At TMRE 2024, the AI Summit spotlight was on how companies can adapt to the ever-changing landscape of AI-powered research while still staying grounde…

Colorful sharpened pencils in a range of colors in a row.
artificial intelligence

Sharpening Insights Best Practices

The overarching theme of the Insights Best Practices track at TMRE 2024 was the evolving landscape of insights, driven by technological advancements,…

A laser like opening, with points of light shooting off into the distance.
consumer experience

TMRE 2024 Keynotes Inspire Insights to Action

TMRE 2024, recently held in Orlando, gathered the market research community for a broad range of conversations and discussions about all things insigh…

A large road sign that points to Data, information, knowledge, and learning.
insights leadership

TMRE 2024 Report: Leading Through Change

A resilient market research community came together at Universal’s Loews Sapphire Falls Resort in Orlando, FL, this past December for TMRE 2024. It ma…

Champagne glasses and confetti, celebrating new years.
customer centricity

Top Insights Themes from 2024

As we close out our review of 2024, we wanted to examine the top insights themes of the year, based on our blogs, research reports and events that we…

A colorful butterfly resting on a rippling body of water.
insights leadership

Transforming Insights: A Review of Q4 2024

During the fourth quarter of 2024, All Things Insights prepared for coverage of TMRE 2024 and featured a wide range of insights related topics and int…

Curved glass side of building, one window is lit up.
insights culture

Leveraging Insights: A Review of Q3 2024

During the third quarter of 2024, All Things Insights featured a wide range of insights related topics and interviews for our community of market rese…

Fast streams of light moving off into the distance in the darkness of space.
media measurement

The Future of FAST: The Role of Measurement

Free Ad-Supported Streaming Television (FAST) channels have disrupted the traditional television landscape, offering viewers a vast array of content w…

Fans at a Dua Lipa music concert, some holding up smart phones.
media measurement

Redefining Fans: The Spectrum of Engagement

In today’s consumer-driven market, understanding audience behavior is crucial for businesses to connect with their target demographic. While tradition…

Kind of futuristic graphic, streams of data moving off into the distance.
consumer insights

Evaluating the Use of Synthetic Data

This year’s recent “Road to TMRE” virtual event featured an insightful panel on, “Consumer Intelligence vs. Artificial Intelligence: The Showdown of t…

A woman on the beach, outstretched arms, during sunrise or sunset.
creator economy

Partnering with the Creator Economy

The creator economy has exploded in recent years, with platforms like YouTube, TikTok, and Instagram empowering individuals to build audiences and mon…

Happy woman shopping on line on laptop with shopping bags around her.
media insights

Exploring How Consumers Spend Their Time

Consumers today are increasingly turning to digital platforms for entertainment and information. According to recent studies, the average person spend…

A woman sitting in the background while a video camera in the foreground is recording her.
entertainment

Reimagining Media Brands for YouTube TV

YouTube, once primarily a platform for user-generated content, has evolved into a formidable competitor to traditional television. As an increasing nu…

Hand with remote control facing TV with a lot of choices on screen.
media insights

Redefining How We Discover Content

The media discovery landscape has undergone a dramatic transformation in recent years, driven by technological advancements, changing consumer behavio…

Fans gathered around the TV in the living room watching a sports game.
consumer insights

Transforming Sports Fandom

The landscape of sports fandom is undergoing a profound transformation, driven by technological advancements, shifting demographics, and evolving cons…

Stylish and colorful young woman taking a selfie.
consumer insights

Inspiring Generation Z in a Digital World

Marketing to a new generation can seem challenging yet Generation Z is bringing a lot of innovation and insights power to the table, which is only exp…

Looking into a futuristic dark tunnel of lights.
media insights

Navigating the Future of Media

The media landscape is evolving at a rapid pace, driven by technological advancements, shifting consumer behaviors, and societal changes. As we naviga…

Hands holding a director's clapper, about to say Action!
analytics

Directing Insights Action

In the competitive world of consumer-packaged goods, data analytics and insights are essential for brands to stay on top of their game. While retailer…

A locket with a red heart shape with key.
customer loyalty

The Value of Building Brand Trust

As consumers overall, and growing demographic groups such as Generation Z, call for more honesty, transparency and authenticity regarding the companie…

A surface of cubes with a variety of rising cubes, one stands out in a different color.
artificial intelligence

Leveraging AI in B2B Respondent Insights

In the B2B marketing landscape, artificial intelligence has shown great potential. It is becoming an essential and advantageous tool, a tool which no…

boxing glove punching
media insights

Powering Subscriber Acquisition

The streaming business is a fluid, changing landscape. To gain some insights into the category, All Things Insights’ Seth Adler spoke with Beau Decker…

metaverse, woman with virtual reality headset
media insights

Developing Immersive Content Opportunities

All Things Insights’ Seth Adler had the opportunity to chat with Shenaika Davis, Customer Insights Content Producer at Meta, at the recent Media Insig…

playing the Jenga block game
analytics

Building a Marketing Mix Framework

Suraj Rajdev, Head of Analytics at Google, sat down with All Things Insights’ Seth Adler to discuss his session at the Media Insights & Engagement Con…

interior design on mobile phone
snapchat

Focusing On an Augmented Reality Strategy

Augmented Reality is here. But are consumers and advertisers embracing it with open arms? Aarti Bhaskaran, Global Head of Ad Research & Insights at Sn…

Gold bars
media insights

Determining the Value of Business Content

Michael Bagalman, Vice President, Business Intelligence and Data Science, STARZ, gave a presentation at the Media Insights & Engagement Conference, ca…

analytics and insights

Building the Analytics & Insights Ecosystem

The recent TMRE Continued virtual event hosted a session, “Blending Analytics & Insights to Drive Business Outcomes.” Moderated by All Things Insights…

consumer insights

Operationalizing a Hybrid Approach to AI

In “Insights + AI: Operationalizing A Hybrid Approach,” Christina Speck, Vice President, Corporate Strategy & Commercial Product, Blue Cross & Blue Sh…

artificial intelligence

Exploring User Community Perceptions of AI

Max Wartel, Director of Consumer Insights, Fandom, held an AI-related session at TMRE, which focused on the perceptions of AI in a user-generated comm…

consumer insights

Leading Insights Through Change

Elizabeth Oates, Vice President, Consumer Insights, Ulta Beauty, spoke at TMRE at two sessions: “Leading High-Performance Insights Teams Through Chang…

consumer insights

The Evolution of Building an Insights Team

Josh Goldfinch, Director Customer Insights, Verizon, participated in a panel at TMRE focused on “Building an Insights Function from the Ground Up.” Al…

marketing

Getting Social to Measure User Engagement

Social media is changing in sometimes complex ways as featured content generated by users in a private capacity has often been supplemented and perhap…

consumer insights

Betting on Sports Consumer Engagement

In assessing the rise of sports streaming and betting, opportunities have come to light that might not have been considered five years ago. Content st…

media insights

Piecing Together the Attribution Puzzle

During the “Beyond Media Measurement” session of the Road to TMRE Gathering, Seth Adler discussed “Attribution” with guests Doug Healy, Senior Directo…

media measurement

Taking New Approaches to Attention Metrics

All Things Insights recently held the Road to TMRE virtual Gathering, featuring three days packed with informative presentations to get insights profe…

consumer insights

Winning the Future of Fandom

All Things Insights’ Seth Adler recently connected with Christina Speck, former VP Corp. Strategy, Blue Cross & Blue Shield of Rhode Island, at this y…

DIY research

Zeroing in on DIY Research

All Things Insights’ Seth Adler recently connected with Bill Trovinger, Consumer Insights Dir., Pharmacy & Health, Albertson’s Companies. Adler and Tr…

actionable insights

Elusive Insights

Insights are being generated but in some cases are not being used. The first assumption is that these insights aren’t actionable. Which of course migh…

social media

Attention Metrics: User Engagement

All Things Insights’ Seth Adler caught up with Aarti Bhaskaran, Global Head of Ad Research & Insights, Snap Inc., at the Media Insights & Engagement C…

media insights

A Changing Consumer Shapes Media Evolution

All Things Insights’ Seth Adler caught up with Edwin Wong, SVP Insights & Innovation, Vox Media, at the Media Insights & Engagement Conference earlier…

home experience

Redefining the Home Experience

All Things Insights’ Seth Adler caught up with David Schliecker, Group VP, HGTV Insights and Strategy, Warner Bros. Discovery, at the Media Insights &…

media measurement

Measuring OTA Programming

Television audience measurement is on the precipice of innovation due to the opportunity to leverage data from set top boxes, smart TV’s, and other so…

consumer insights

Collaboration Around The Consumer

The consumer is now in the driver’s seat, and James Petretti is no stranger to that fact. Success is not possible if the consumer is not buying into w…

consumer insights

Fan Insights

Thanks to the advent of social media and streaming services, the world of television today looks nothing like it did a few decades ago. All industries…

sports entertainment

Live Sports Insights

Programming across the board is looking to develop content that appeals to an audience that engages increasingly with user-generated content (UGC) and…

media insights

Content Marketing Insights

In the past decade, SVOD (Subscription Video-On-Demand) companies have revolutionized how we consume our favorite shows and discover new ones. As medi…

media insights

Media Behavioral Insights

Analytical minds will always benefit from more complete data from farther-reaching sources. Even more fundamentally, Pepe says the questions everyone…

media insights

Media Industry Insights

It’s not unreasonable to feel overwhelmed when faced with the size and scope of the continuous shifts in the television industry within the past few d…

consumer insights

Path To Purchase Insights

Insights leaders are responsible for connecting all of the information gleaned from a multitude of different sources, and creating usable data that wi…

consumer trends

Ripple Effects on Insights

For many of us the pandemic brought along with it a series of impactful changes that honestly, none of us could have predicted. Everything regarding w…

media insights

Media Past Is Media Prologue

“Whatever the modern technology of the day, it was a force for disruption, it was a force for change, and it was a force for enchantment, joy, and lea…

media insights

Representative Insights

A great story starts with a single word. From there, the story is subject to its characters, plots, and the conflict presented by the content, all of…

media insights

Super Insights

Talking with Peter Leimbach, Senior Vice President, Ad Sales Research at FOX Sports, it’s clear that pro football teams aren’t the only ones competing…

consumer insights

Gen Z Insights

“Ultimately Gen Z demands a new media plan. The previous ways of thinking in terms of length being a precursor of the efficacy of advertising content…

gaming

Streaming Insights

As 2022 continues, Chris Whitely, Senior Director of Product Management at Comcast, says that the big subscription-based streaming services have seen…

insights

20 Quotes On Risk, Truth, Wealth And More

Dan Runcie, Founder, Trapital sat down with Percy ‘Master P’ Miller at the most recent TMRE. The discussion focused on how Miller’s background provide…

media insights

Measurement, Currency and Attribution

Keeping pace with innovation is always a challenge. The Media industry not only has to keep pace with that innovation, many players have offerings tha…

consumer insights

The State of the Consumer (2022)

eBook by Remesh | 21 Apr 2022 About This Report 2021 has been a transformative year for every industry and organization in the world; from more perman…

insights strategy

A Contemporary Insights Organization

We are in the process of experiencing the second paradigm shift of human behavior in just a three year period. For a prepared organization, this is a…