Market potential and determinants for eco-smart furniture attending consumers of the third age

Abstract

Purpose This paper aims to discuss some of the findings of an ongoing “Green & Smart Furniture” (GSF) research project. It actually focuses on third-age consumers’ behavior and interest in purchasing smart and eco-friendly wooden furniture, providing some critical implications for the successful design and production of GSF products in the framework of innovation and differentiation. Design/methodology/approach The methodology is based on empirical data gathered from consumer research across Greece. The target group for “smart and eco furniture”, under the context of the present research, has to do with the third age, following the claims of many researchers that market orientation is essential for innovation success. Findings The present research promotes the development of innovation for furniture manufacturing industries, opening a new pathway in confronting the difficulties and strong competition. Firms should redesign their strategy, focusing on differentiation by including innovative products in their portfolio with high added value. Originality/value The present research is a prototype for the Greek and European furniture market, one designed to answer certain relevant questions regarding the drivers of innovation for the specific sector and the specific target group.