Downsizing in Everything but Organization
As baby boomers age and become empty nesters, a growing number of them are choosing to downsize their homes. In some cases, baby boomers are adopting new lifestyles. Many urban areas have seen an influx of older residents trading in suburbia for apartment or condo living in the big city. For others, the change is more about the livability of their home. For example, many baby boomers choose to move to a ranch-style home to avoid needing to use stairs, allowing them to better age in place. Finally, downsizing can also be a way to save on expenses, particularly utility and maintenance costs.
Demand for products such as modular units and hanging storage — both of which focus on maximizing typically un-used or under-used spaces — benefit from downsizing households. Modular units, in particular, have enjoyed strong growth as consumers have adopted their use not only in closets, but also in other areas of the home, such as pantries and garages.