Today’s evolving kitchen and bath client base is creating a wealth of profit opportunities for design professionals confronting a widening array of lifestyles, household compositions, buying habits and product preferences.
That reality was mirrored in the myriad product innovations unveiled at last month’s Kitchen & Bath Industry Show, as well as at a concurrent educational conference focused on such issues as future living environments, smart-home technology, sustainability and aging in place.
Emerging opportunities among today’s evolving customer base was also the focus of a comprehensive, multi-phase survey whose results were released at KBIS. The survey – conducted for Kitchen & Bath Design News by the Research Institute for Cooking and Kitchen Intelligence (RICKI) – was aimed at determining how kitchen/bath designers are adapting their businesses to address new opportunities and challenges within each of four key consumer segments.
Among the study’s key findings:
- “Midlife Made-Its” – homeowners in their 40s or 50s, at the peak of their earning years – still remain the sweet spot of the kitchen and bath market. This influential client segment doesn’t like to compromise and is willing to spend. Appeal to them with products such as custom cabinetry, smart/connected appliances, luxury plumbing fixtures, specialized storage and unique ventilation hoods and backsplashes.
- A client cohort with major growth potential is “Moving-Ups” (homeowners in their 30s or 40s who are buying a move-up home). Their style tastes lean toward transitional or traditional, and they want connected, beautiful homes. Help them make smart, informed choices, because they often want more than they can afford.
- “Younger Starters” (those in their 20s or 30s who are in the market for, or have recently purchased, their first home) are just beginning to make a mark. They’re also the most challenging segment, with “champagne tastes and beer budgets” – and unreasonable expectations based on online sources, TV and other forms of “inspirational programming.” They will be a major force soon, however, so start building relationships that will pay off in the future.
- “Older Next-Phasers” (homeowners in their 50s or 60s who are nearing the end of their traditional work lives) are often transitioning to a smaller home, but they still want that home to reflect well on them. Appeal to this segment with high-quality products that provide the lifestyle, healthy home and Universal Design features that are now a priority.
- To address growth-oriented customer segments, design pros tell KBDN that they’re increasingly shifting their marketing efforts to digital platforms, utilizing cutting-edge technology, revising their marketing strategy and/or messaging, and altering their product mix. Customer experience still reigns supreme, however – even with social media, 3D design software, virtual reality and other technological tools advancing rapidly. Designers see up-to-date showroom displays as a top priority. Make sure you’re investing in the showroom resources needed to stay ahead of the curve.
What’s eminently clear from all these findings is that demographics, technology and design trends are converging to drive unprecedented – and rapidly changing – demand for new products, features, price points and marketing support. It’s more critical than ever for design pros to identify emerging opportunities…and seize them.
Dealers, designers and manufacturers must tap into the latest trends to ensure that their products and marketing efforts align with the most promising client segments. If you’re not responding to today’s changing, increasingly fragmented customer base, your company is treading water – or, even worse, losing ground. 
The post Today’s Changing Client Base appeared first on Kitchen & Bath Design News.
from foodplusice feed https://ift.tt/2SzYYvM
