Millennials Who Can Buy Homes Spend More on Kitchen & Bath Remodels
I spend a lot of time on my soapbox about the need for kitchen and bath showrooms to become true multi-channel businesses so they can grow. Or even survive.
Here’s another reason to think about that: Millennials. The dominant myth is that they’re sitting in their parents’ basements trying to figure out how to pay off their student debts with their pizza delivery job paychecks. It’s partly true. But here’s what caught my eye about some recent National Kitchen and Bath Association research: The millennials who are buying homes spend more on kitchen and bath remodels. From plumbing fixtures to cabinetry and materials, millennials are shown to invest more in kitchen and bath remodels.
Here are some interesting nuggets from the research that may spark your business interest:
- Millennials spend an average of 17.7 percent more than the $19,155 typically invested in a kitchen remodel, and 42.3 percent more than the $11,364 normally allocated to remodel a bathroom.
- When purchasing kitchen and bathroom products, younger generations value Internet searches and information from friends and family members more than other age groups.
If they do find your kitchen and bath showroom, these digital natives are going to want to inspect and play around with your inventory options before they appear in your store — where your professional staff’s personal touch and deep kitchen and bath product knowledge will draw them closer to you. These kids grew up on the touchscreen experience driven by slick user experience thinkers. They will expect your kitchen and bath showroom website to feel and perform more like the online buying platforms they’ve been raised on.
This is not about online marketing: Hiring web developers and buying keywords is a single-tactic response and usually a cost sinkhole that diverts too much energy and budget for questionable return. Expert staff and superior product is what kitchen and bath showrooms are best at. You win if you focus your efforts here and put as much of the online junk on autopilot as you possibly can.
That’s the reason I built a no-brainer tool to handle it for you. Learn here about how to make all of this easier with our kitchen and bath showroom solutions.
Do you have thoughts or experiences about millennial consumers to share or questions about how to upgrade your showroom’s online presence? I’m all ears. Reach out any time.