The Joint Center for Housing Studies at Harvard University recently released their latest study of the home remodeling industry entitled “A New Decade of Growth for Remodeling – Improving America’s Housing”
I look forward to this report because it gives our industry a great snapshot of the recent past and a glimpse into the next few years.
A couple of stats from the latest report that stand out:
In 2009: Heads of household, under 45 years old accounted for 31.28% of homeowners reporting remodeling projects and accounting for over $59 billion dollars spent! …during the recession. These figures account for those who hired professionals and not the Do-it-Yourselfers.
The Projection for 2015 for this same age demographic, including all homeowners (minority and non-minority) indicates an average growth of 3.9% in compound annual growth rate on average per owner spending.
Overlay those remodeling statistics with some about smart phone usage from Nielsen (April 2011)
- Thirty-six percent of U.S. mobile consumers now have smartphones. Add to that the latest stats from Online Marketing Trends (June 2011) that in the US 48.7% of smartphone owners are between the ages of 25 and 44. While another 27.5% are 45+.
- Consumers with Apple iOS (iPhone) and Google Android OS mobile phones represent the majority of the smartphone market in the U.S. and 74 percent of mobile app downloaders
- App downloaders with Apple iOS and Android OS smartphones have more applications on their mobile phones than those with other kinds of smartphones, with an average of 48 apps on iPhones and 35 apps on Android phones. (By comparison, app downloaders with Blackberry RIM smartphones only had an average of 15 apps on their phones.)
- They also use their apps more often: 68 percent of app downloaders with iPhones and 60 percent of those with Android phones reported using their mobile apps multiple times a day compared to 45 percent of app downloaders with Blackberry/RIM phones.
Savvy Kitchen & Bath Professionals need to begin to use the latest technologies to reach their current and upcoming generation(s) of customers. The Kitchen & Bath Channel was created to do just that.
Your primary benefit from your association with The Kitchen & Bath Channel is to make your marketing program technologically current and to keep you on the cutting edge! Your job is to design beautiful kitchens and baths, ours is to watch emerging technologies for your marketing benefits.
- Download The Kitchen & Bath Channel for the iPhone
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