Findings from a report published today by life event data company, TwentyCi, suggest that in 2018 there will be good opportunities for brands that typically benefit from consumers moving home – including furniture, interiors, home improvement & DIY, travel, garden products, finance and automotive.
The full TwentyCi Q4 Property & Homemover Report can be found at www.homemoverreport.com
The TwentyCi Property & Homemover Report shows that for the final quarter of 2017, there have been healthy increases across every stage of the Homemover Cycle compared to last year (see graph below). The biggest increases were in Movers, with 27% more consumers approaching the time of move, and there was a 23% increase in Move Nest Builders (people who have just moved).
With the purchasing power of Homemovers typically adding up to £12 billion annually across the UK (excluding the cost of the property), these increases demonstrate that there will be more consumers making big purchase decisions relating to their new home – which is something that brand marketers can tap into directly by targeting Homemovers at the right time.
Colin Bradshaw, Chief Customer Officer at TwentyCi, explains: “Our data shows how there are direct correlations between consumer behaviour and the Homemover Process which varies depending on the retail or product sector.
Using tools such as our Homemover Wave (see below) brand marketers can reach consumers at the perfect time when a Homemover will be considering a purchase in their category. With the Homemover Cycle usually taking many months from start to finish, the increase in numbers across the whole of the Cycle provides a large window of opportunity for those brand marketers who make the effort to target Homemovers.”
For the graph above, TwentyCi mapped data from major retail brands against its database of 99.6% of all UK Homemovers to demonstrate the relationship between consumer behaviour, when they make offers and the Homemover process. These Homemover Waves show when purchasing dips and spikes across several industry sectors as Homemovers shift from putting their house on the market, through to moving in and beyond.
So, for example, furniture buying actually kicks in before people move, DIY happens at the point of moving in, electrical goods are bought a month or more afterwards and, presumably following the stress of the move, holidays become a big purchase between two to six months post-move.
The full TwentyCi Q4 Property & Homemover Report can be found at www.homemoverreport.com.