Are you the kind of person who track home improvement industry? Many wonder what 2020 holds for the industry. Industry experts at the Home Improvement Research Institute annual summit spoke about the top trends and developments that will likely characterize the industry in the year to come.
LUXURY PROJECTS ARE SLOWING
This can provide opportunities for emerging quality value brands in the kitchen and bath remodeling spheres, where clients have more access to consumer facing information. For example, features like soft close doors and drawers, sizing customization, and organizing accessories, once limited to semi-custom and customer cabinetry and are becoming more widely available in more affordable brands. If you are recommending or specifying for clients, this is a potential sweet spot. If you are in the market to improve your home, or helping real estate clients to improve theirs, this is an opportunity to get a custom look at a more realistic price.
BUYERS ARE LOOKING FOR HELP
As millennial have emerged as leading DIYers, they’ve become information hungry. It is why you will find a large selection of home improvement how to videos on retailers and manufacturers sites for those who may want to research before they shop as well as reinforce what they heard in the store aisle. If you are doing your own home improvement, there is a wealth of great information online to help you complete a project and approach an associate more knowledgeably. With stories aisles being notoriously crowded on the weekends, this a way to get the answers you need to complete your projects more successfully.
MOBILE SALES ARE GROWING
Shoppers want the convenience of learning about products on the go, buying them with a few clicks, then not having to wait for delivery and possibly postponing their project until the next weekend. Show them how to improve their properties online, make it easy to buy what they need from their phones without having to pull out their wallets, through a digital payment system, and then let them pick up their purchases an hour later in their neighborhood store. If there are retailers who really want buyers, they need to make it easy to get help online or by phone if someone runs into installation challenges during the project.
WATCHING THE NEXT GENERATION
Since this is also an entirely digital native population, a company’s first communications with Gen Z members are likely to be through a website, mobile app or social media channel. Researchers differ on how they define the years in which this generation was born, but the youngest are still in elementary school. It is not surprising that they’d value pragmatism, given how much hype is thrown at them online. Scams are identifying theft concerns also likely drive their interest in security.
EMPHASIZE HEALTH OVER SAVINGS
This is not as surprising as it might seem. While sustainability and savings have become expected with programs – people are taking an active interest in their health and wellbeing, especially millennial. wellness focused changes can include paint, flooring or cabinetry with non-toxic materials, touch less faucets that reduce germ spread, circadian lighting that improves sleep, water and air purification systems, bidet style toilet for enhanced hygiene and many others. This is proving to be a healthy message for the home remodeling industry’s bottom line as well.