The home improvement market has seen drastic changes since the beginning of 2020, when the unanticipated global pandemic forced homeowners to begin working from home. Millennials and Gen-X families are spending more on Do-It-Yourself projects and backyard renovations, installing firepits and constructing pools to make use of their extended time at home. While the “Baby Boomers” are shying away from home improvement projects due to health and safety concerns, younger generations are taking advantage of their increased disposable income from not traveling or eating out, and focusing their spending on electronics, appliances, and home gym equipment.
A Consumer Specialist survey, performed earlier this year, showed that approximately 57% of homeowners have reported beginning or completing a home improvement project from March to May. Now that families have more time and income from eliminated commutes to work and vacations, they are more willing to renovate their home to make it more suitable for a work-from-home environment. The level of online shopping has also spiked because it serves as a tool to avoid crowded retail and grocery stores. The same Consumer Specialist survey also reveals a 12% increase in online services being used in 2020 compared to 2019. That makes it significantly easier for homeowners to cope with these unprecedented times, as well as let them juggle working from home and taking care of their families.
So how can you catch the eyes of consumers looking to renovate their homes or ease their hectic lives? By highlighting your remote shopping and delivery services, you would be emphasizing your care for homeowners’ convenience as well as demonstrating your flexibility in adjusting to new trends and consumer needs.
Incorporating automated purchases would also comfort customers in that they would not have to worry about re-ordering a product they routinely purchase. By alleviating unnecessary stress from their schedule, you would augment customer loyalty and ratings.
Another way to escalate consumer loyalty is by implementing more loyalty programs. By offering rewards for writing reviews or for using a company hashtag on social media, you strengthen your existing customer base as well as gain valuable exposure to a new, younger demographic that mainly functions online.
While there still remains many unknowns about the future of consumer preferences throughout this pandemic, it is still possible to keep up with trends that rapidly develop. We see a new appeal to convenience and a focus shifting toward home-improvement now that families are staying home instead of spending most of their days at work or school. By emphasizing these aspects of your products, you will be attracting a larger consumer base and building customer loyalty. Reach out to our marketing team for a free consultation now.