Rising property prices and interest rates have led many to choose between renovating their current home or transforming a fixer-upper into their dream residence for less. This global trend has fueled the home improvement market, hitting a staggering *$763 billion/£613 billion in 2020, and it’s set to break the trillion-dollar barrier by 2027.
To help marketers plan for 2024 and beyond, we analysed 2023 home improvement footfall and audience data across the UK, Netherlands, Spain, and Italy using Blis Audience Explorer.
IS WINTER THE NEW SPRING FOR THE HOME IMPROVEMENT MARKET?
Some would say it’s common knowledge that spring is traditionally the peak season for home improvement. But is this the case with current trends? Our 2023 footfall data shows that visits to home stores peaked in November, December and January across the UK and Netherlands, surpassing April and March.
Italy showed a dual-season trend, with peaks in March and April, followed closely by December and February. Meanwhile, in Spain, home improvement footfall was highest in April, June, and July.
With peak times varying throughout the year, it’s up to brands to find and engage their target audiences year-round to maximise impact. Reaching out with personalised messaging and promotional offers to clients seeking cost-effective options during autumn and winter, as well as helping them shake off the winter blues after the December festivities, is crucial for engaging this group. For those loyal to spring renovations, early engagement with tailored messaging is essential.
GET TO KNOW YOUR HOMEMAKER AUDIENCE
Transforming a house into a cosy and warm home is the order of the day for homemaker audiences. Using our Audience Explorer platform, we’ve uncovered some key insights into the ‘Home Shoppers’ characteristics and spending behaviours.
- British homemakers were spotted shopping for furniture and furnishings, electronics and sporting goods, reflecting their spending focusing on home improvement preparation. Often found dining out at restaurants, purchasing in discount and outlet stores and around luxury retailers, brands can reach out to these audiences at these strategic locations, bearing in mind that consumers are far more likely to make home-improvement purchases in-store.
- Dutch and Italian home audiences were seen shopping for family apparel, furniture and furnishings, electronics and jewellery, indicating a family-oriented approach to home improvement.
- Homemakers in Spain were spotted at sporting events, department and pet stores purchasing men’s and children’s apparel. They index highly for online department store spending as well, presenting a great opportunity to reach these audiences with direct and consistent messaging across channels both online and in-store.
Leveraging these real-life interests and focusing on an omnichannel approach will help brands connect with their audiences and stay front-of-mind during pivotal moments in their lives, ensuring a seamless customer journey and increasing sales.
As the saying goes, ‘A man’s house is his castle’, therefore ensure you are present whilst your customers are building or renovating their dream homes to make the process easier and smoother.