Luxury Home Marketers: The Pump Is Primed for Growth in 2013
New study finds the market for luxury home furnishings will reach $104 billion in 2012 with affluent customers expecting to buy more for their homes in 2013
STEVENS, PA December 7, 2012 – Finally, the nation's high-end housing market is showing signs of recovery which will bring new opportunities for marketers that sell luxury furniture, home furnishings, appliances, remodeling products and other home-related goods. Toll Brothers, the nation's leading builder of high-end homes, just reported revenues for the quarter closing October 31 were up nearly 50 percent from last year.
Another measure of rising demand for Toll Brother's luxury homes (average price ~$582,000) is that signed contracts are up 75 percent from a year earlier. The company also reports that at the community level, net signed contracts were the highest for any fiscal year since 2006. This is encouraging news for all marketers whose businesses are linked with the rise and fall in the housing market. Rising demand for homes at the high end is a bellwether for rising demand for high-end home furnishings.
Is your company positioned to get your share of this prosperous and growing market?
“Finally, the housing market is showing signs of recovery as affluent consumers are trading up and investing in new homes. That means opportunity for marketers selling things for the homes people are buying,” says Pam Danziger, president of Unity Marketing http://www.unitymarketingonline.com and author of a new trend report on the home furnishings market entitled Home Is Where the Luxury Is. “What’s needed now is for marketers to understand the affluent customer ready to invest in improving their homes and make sure their marketing messages match the consumers’ own desires.”
To that end, this new report gives valuable research-based insights and marketing strategies to help marketers assess their opportunities and grow their business. It gives market-based facts and figures about the high-end home furnishings customer in order to inspire marketers to develop new growth strategies for their brands and their businesses.
Survey finds strong demand for luxury home furnishings
“High-end furniture marketers must be positioned for growth in the coming year. They need to have the designs, product features and brand values that motivate the affluent shopper,” says Danziger. “The research points to strong potential growth next year with nearly half of the luxury consumers surveyed planning a major home furnishings purchase through 2013. The research also points to an estimated $5,000 budget they will have to spend. This new study will help furniture retailers and manufacturers learn what items will be in demand and offers ideas about ways to position products to attract the attention of these potential buyer and present their brand in line with the high-end customers’ underlying psychology.”
The data and analysis home furnishings marketers need to effectively reach their most valuable consumer is contained in Home Is Where the Luxury Is , a comprehensive report that shows who is buying home furnishings, where they shop, how much they spend, and what marketing messages resonate with them.
More about the Research
To understand the market for luxury home goods and services, the report provides:
- Profile the luxury home furnishings consumers, what they buy, where they shop, how much they spend and most importantly, why they buy
- Market size and growth of the luxury home furnishings market
- Attitudes and motivations in home furnishings purchases
- Factors that influenced home purchases
- Places where luxury consumers shop for their home
- Use of a decorator or designer and why they use a decorator
- Favorite styles of home decorating
- Trends in major home projects, 2008 to 2010
- Trends in amount spent on major home projects
- Personalities of luxury home consumers and how to sell to them
>> Our goal is to help you put consumer insights and understanding to work to grow your business
The results of this research are analyzed to help home marketers and retailers understand the opportunity among the affluent consumers. Take action slides call out specific strategies marketers and retailers can use to attract more luxury consumers to their brands and their businesses. Click this link to learn more about the study and to order a copy.