Today, more than ever, consumers are demanding an unprecedented level of product quality, value, and availability. This high demand is especially apparent in high-value items such as a new home purchase or remodeling their existing home.
Because of these growing demands, this news item examines the consumer trends today and how these have an impact on the new construction and remodeling industries. Whether you call them a homeowner, homebuyer, customer, or client, these trends illustrate that no longer can a gap exist between the amenities offered in various areas of the home and the quality of storage and organization.
Trend One: Premiumization
Homebuilders and Dealers alike can meet or exceed consumer wants ensuring their spectrum of offerings matches a consistent branding. Consumers (homeowners, homebuyers) have come to expect premiumization of products and alignment of various products from companies or vendors they buy from. For example, a homeowner interested in a full kitchen remodel will be disappointed if their selection choices include premium, smart-home-ready appliances but wire is the only available storage and organization product for their pantry. This disconnect is noticeable and will have an impact on a Dealers ability to secure new or repeat business.
Euromonitor, an industry leader in consumer market research, is adamant about how much consumers value premiumization but is quick to note it is less about how much they own, and more about how products can make them better. How products make consumers more unique or more efficient are driving factors of consumers' wants for premium products.[1]
A walk-in closet with Classica in Snowdrift Live can drastically increase how unique a homeowner feels or a pantry closet with an adjustable freedomRail system will increase how efficiently they can store and locate food and kitchen goods. Missing the mark with premium storage and organization offerings to align with other premium home amenities can have upsetting effects.
Trend Two: Brick-and-Mortar Shopping Reinvented
It’s no secret that online shopping has established a significant foothold in business-to-consumer sales. The ability to quickly customize products, compare prices, determine availability and delivery times, and more have driven consumers to expect on-demand information and resources when shopping (either online or in-store) that cannot be ignored by Dealers.
Being mindful of the consumer condition for online shopping, online sales may not be the best avenue for Dealers. The Pew Research Center found that 64% of consumers prefer buying products from physical stores rather than online, however, and it’s a big, however, that’s if and only if all things are equal[1]. As highlighted previously, it’s commonplace that things are not equal when comparing online shopping to in-store. Given this discrepancy, brick and mortar Dealers need to take advantage of technology and unique […}
At the forefront of this trend are various construction materials or home amenities companies such as Moen, Kohler, Restoration Hardware, who have all opened “experience centers” in major city centers such as Manhattan that are focused more on allowing consumers to have unique, impactful experiences with their products first-hand rather than focusing on a one time, business-to-consumer sale.
To drive storage and organization sales (and to match the premium level of products Dealers offer), Organized Living’s Design Tool is an excellent resource to incorporate into the Dealer showroom experience. The Design Tool provides the ability to illustrate detailed designs on a tablet or computer alongside allowing a consumer the ability to interact with freedomRail display. This level of interactivity and real-time design adjustments allows Dealers to […]
[1] 2018 Euromonitor. Premiumisation Briefing. 24 August 2017.