TMCnet News
Shoppers Primed to Spend and Save on Home ImprovementValassis, a leader in activating consumers through intelligent media delivery, today released its Dynamic Home Improvement Shopper findings, to help advertisers create smarter, more customized campaigns based on how consumers research, plan and purchase items for their home projects. Valassis' survey of over 1,200 respondents found that homeowners across generations are planning to make some type of home improvement in the next year, with 79 percent of millennials (67 percent of Gen Xers, 49 percent of Boomers) planning to do so. The high percentage of millennial home improvers is not a surprise, especially given that they are the largest segment of new homeowners today, with Zillow reporting that this generation makes up 42 percent of home buyers. However, in terms of the annual spending on home improvement projects, Scarborough 2017 data shows that Boomers ($2,799) and Gen Xers ($2,652) currently outspend their millennial counterparts ($2,412). These data points all highlight the importance for brands to engage multiple audiences through strategic, relevant messages. According to a report from Harvard University's Remodeling Futures Program, home renovations and repairs spanning from mid-2017 to the second quarter of 2018 are expected to reach $324 billion, providing a lucrative landscape for brands and retailers within this market. "Taking a consumer-centric approach helps marketers understand what makes each shopper tick," said Curtis Tingle, Chief Marketing Officer, Valassis. "First, use real-time signals to identify which consumers are 'in-market' and ready to buy. Next, overlay insights that identify the type of media that is influencing them to make a purchase, and why. Finally, craft relevant messages based on your findings to increase traffic, drive sales and win the shopper as they look to spend more on their homes." Takeaways from Valassis' research include:
To learn more, view the Dynamic Home Improvement Shopper eBook. About the Study Valassis' Dynamic Home Improvement Shopper insight is based on the Valassis Awareness-to-Activation Study, an ongoing study fielded in conjunction with The NPD Group (News - Alert), Inc., a global market research company. The sample was derived via an online survey, and all participants were at least 18 years of age and living in the contiguous United States. Approximately 10,000 respondents are surveyed annually. This specific data was gathered from research fielded Sept. 29 through Nov. 30, 2017 to over 1,200 respondents and is balanced by age and gender to U.S. Census demographic profiles. About Valassis Valassis helps thousands of local and national brands tap the potential of industry-leading data through intelligent media delivery - understanding, engaging and inspiring millions of consumers to action with smarter cross-channel campaigns. We've been a part of consumers' lives for decades, introducing new ways to deliver offers and messages that activate them - whether via mail, digital, in-store or the newspaper. NCH Marketing Services, Inc. and Clipper Magazine are Valassis subsidiaries, and RedPlum® is its consumer brand. Its signature Have You Seen Me?® program delivers hope to missing children and their families. Valassis and RetailMeNot are wholly owned subsidiaries of Harland Clarke Holdings.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180226005952/en/ |