One of the major issues that the Households page attempts to analyse is that of size and segmentation – a vital indicator for understanding local market conditions. What will the dominant profile look like in 2030? Or how does household size change consumer behavioural patterns? The “Why Households Matter for Business Strategy” strategy briefing attempts to address these questions and explain how to approach them. Below you’ll find some examples of how to approach size and segmentation questions from the briefing.
Segmenting the data
Passport Households contains a large pool of data that can provide a breakdown of various indicators, including by age, sex, urban/rural location, dwelling type, household durables, family type, room/person number, and tenure. Users can distribute this data by size, growth and time period, in order to analyse and pinpoint specific trends and patterns across regions, economic areas, and even cities.
As an example, the Passport dashboard is able to demonstrate this segmentation. The below dashboard map shows that the Middle East and Africa has the most populated households in the world. This means that the household family unit is large, with extended family members and children living together. This creates major opportunities in the family market for brands.
Societies, technologies and populations are constantly in a state of flux, and households reflect these shifts on the most basic level of relationships and lifestyles. Companies and organisations targeting homes and their inhabitants must be ready to acknowledge and react to such changes as and when they occur. Households data and insights are on hand to record and forecast these movements.