Hot Topics in Home Improvement
Ellen C. Wells
Another industry closely related to ours is the home improvement field, since many of our customers consider working in the yard to be improving their place. One of that industry’s organizations, the Home Improvement Research Institute, recently held its Insights Summit—an annual “state of the industry” type event—in Chicago. What were their conclusions? Well, they saw three big ideas come out of the event. Those are:
1. Thanks to technology, consumers have a wealth of information at the ready nowadays and they're making better, more informed decisions. Upwards of 74% do research prior to making a purchase decision.
2. Pay attention to “mobility” or a decrease in moving/changing homes. Both Boomers and Millennials are staying put, which means their home improvement purchases reflect home maintenance—including yard improvements.
3. Weather is a force to be reckoned with. There are two trends here: One is essentially to act as a first responder when it comes to post-storm repairs and the other is providing methods to Millennials who want to live a “green” life to in order to make their children’s futures better.
An increase of knowledge, an increase in interest in creating a longer-term home and dealing with a changing global climate—all three very good reasons to keep your eye on home improvement—and yard improvement, too. Any of these three big ideas on your radar yet? GP