The Pandemic and the Booming Home Industry

Luxury home makeovers have become very popular in the past year. While some markets were suffering, the home industry was thriving. The pandemic has had consequences that have created a booming market for the home.
Being in the industry for 15 years and having a 30,000 sq. foot furniture show room, Stephanie Cohen, of saw and experienced first-hand what was going on with people’s homes during the pandemic versus beforehand. “Through this very difficult time, there was a shift in the focus in the importance of home,” said Stephanie.
Why has it changed?
Due to the pandemic, people are spending more time at home. They have time to pay attention to what’s going on in their spaces. People are not traveling, dining out, or shopping, and therefore have more income to spend and perfect their homes.
What has changed?
Outdoor spaces have become the main entertaining spot during the pandemic. People cannot gather indoors, therefore they are hosting outdoors. Now more than ever are people creating beautiful outdoor spaces. As of this summer, most high-end furniture vendors will be carrying Outdoor Furniture. This is a whole new market for vendors like Stephanie Cohen Home.
 The home office has been taken to a new level. People are turning their home offices into real offices and are creating a space where they spend most of their days. Along with home offices, children now need desks to conduct their school work.
Virtual design has become a whole new marketplace. Everyone now wants a complete luxury project done rather than just a sofa or change a few pieces. Home makeovers have been trending on social media, creating a higher demand for interior designers. Thanks to the virtual world, Stephanie is able to get more done in a shorter amount of time. She can design a home in California at the same time as one in New York. Virtual design has taken the world of luxury Interior Design to the next level.
Stephanie believes, “Now more than ever, our homes are our safe oasis”
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Source: Stephanie Cohen Home