This week the BBC reported that in the first half of 2021, some 8,700 chain stores closed in the UK – this is nearly 50 per day, an astounding number! Now, more than ever before, the cost base for a retailer is being scrutinised by the finance teams, and the need for marketing budgets to be spent in the areas that are going to give them the best return is paramount.
Here at TwentyCi we have demonstrated to our clients that there are key groups of consumers that deliver higher value than others, and one of the highest is homemovers. Moving into a new home drives an explosion of expenditure across a wide range of sectors and categories. The graphic below outlines some of the key lines of spending that a home move kicks off, with the average homemover spending over £12,000 during the moving period. Who wouldn’t want a slice of that pie?
From the insight we have provided to clients we often see that a homemover will spend 4 to 8 times more than a non homemover. So, given the choice between driving a “non homemover” vs. a “homemover” into store, I know which I would pick.
We can help you to build a marketing programme to make the best of your available budget. Get in touch with us today to get a free homemover gap analysis, and help avoid your stores becoming the next statistic.