The gradual pick-up in the real estate market and the economy as a whole has inspired more Americans to make improvements to their own residence, according to a survey. The result may double the number of households in the market for supplies and services.
The survey, from CouponCabin, found that 32% of homeowners are considering home improvements that they would not have had they not sensed an improving US economy.
The upshot of that is that 64% are in the market – counting those who are somewhat likely to invest in a project to those who will certainly be taking some home improvement action.
Spring is well-known as the hot season for the category, and CouponCabin says stores like Home Depot, Lowes and their competitors are always ready to move product at this point in the year. 87% of those surveyed confirmed this impression.
“Many homeowners have held off on home improvements over the past few years, but are cautiously making changes as the economy strengthens,” said Jackie Warrick , senior savings adviser at CouponCabin.com. “No matter the size of the job, home renovations can be costly. It’s important for homeowners to carefully approach projects and choose to do renovations that are most likely to raise the value of their home overall.”
Further good news for retailers selling supplies is that about 60% in the market will take the job on personally rather than bring in professional help.
CouponCabin also has numbers on how much is on the table when consumers become home improvers. And the numbers look good:
* Under $1,000 – 26 percent
* $1,000 – $4,999 – 49 percent
* $5,000 – $9,999 – 15 percent
* More than $10,000 – 11 percent
RBR-TVBR observation: We don’t need to tell broadcasters that spring is here. We’d be mighty surprised to find out there are those among our readers who would consider us telling them it’s a good time to approach hardware and home improvement retailers as some kind of profound revelation.
However, if you can tell them that instead of 32% consumer interest in making improvements a survey has found there is 64% interest – that is a compelling piece of information that may inspire some to launch an ad flight and others to expand one — especially since many of them are on the fence and may need a little convincing to act.
Add in the fact that most of the consumers in the market are planning to spend at least $1K and in many cases much more, and you may have the appropriate clients tripping over one another to take advantage of your airspace.
