Did you know that consumers who are in the process of moving to a new home are nine times more likely to make home furnishing and home improvement related purchases?
Did you also know that when these consumers do buy, they spend a huge 50% more on these products and services than those not involved in a house move.
The impact can be seen sector-wide, influencing a large variety of product and service lines, including but not limited to: beds, sofas, kitchens, bathrooms, home appliances, windows and doors, electricals, garden retail, automotive, holidays, utilities, banking… the list is goes on.
The increase in propensity to spend from these consumers extends from 6 months before a house move to 18 months after moving day - and for some product and service categories, this period is longer still.
Our Chief Customer Officer, Colin Bradshaw, adds:
"Our proprietary data shows a direct correlation to be found between consumer behaviour and the homemover process, varying across different industry sectors.
Through the application of this data and insight, brands can reach consumers at the optimum time when these potential customers are known to be considering a purchase in their category.
And with a homemover cycle typically spanning at least 2 years from start to finish, the increase in captive consumer numbers across this whole period provides a substantial window of opportunity for retailers who make the effort to target homemovers."
To help put this into context further, we know, for example, that furniture buying typically kicks in before people move, DIY shopping peaks at the point of moving in, electrical goods are bought a month or more after a move and holidays frequently become a big purchase between two to six months post-move.
Would you like to find out more? Drop us a line or chat to one of the team today on 01908 829300.