Recently, Retail Voices published an article based on TwentyCi's Property & Homemover Report release. Our Property & Homemover Report is published quarterly and covers the whole of the UK property market, with exclusive access to more than 29 billion qualified data points across the whole of the property sector - for both property purchases and rental.
Retail Voices reports that there have been healthy increases across all stages in the homemover cycle compared to 2016. The largest spike was seen in the 'Mover' segment (those approaching the time of move), with 27% more consumers spending at this time. This was closely followed by a 23% increase in Move Nest Builders (those who have just moved). With the purchasing power of homemovers typically adding £12billion annually, these increasing numbers demonstrate that there will be more consumers making big purchase decisions relating to their home, and thus this number may increase further still. Retailers should tap into the lucrative homemover market by targeting these consumers at the optimum time.
As Colin Bradshaw, our Chief Customer Officer explains: “Our data shows how there are direct correlations between consumer behaviour and the Homemover Process which varies depending on the retail sector. Using tools such as our Homemover Wave, retailers can reach consumers at the perfect time when a Homemover will be considering a purchase in their category. With the Homemover Cycle usually taking at least 18 months from start to finish, the increase in numbers across the whole of the Cycle provides a large window of opportunity for those retailers who make the effort to target Homemovers.” To help put this into context, furniture buying kicks in before people move, DIY shopping happens at the point of moving in, electrical goods are bought a month or more afterwards and holidays become a big purchase between two to six months post-move.
To read the full article, click here. To read more about TwentyCi's homemover data and life event work with other retailers click here, or to read and download the full Q4 Property & Homemover report click here.