There are a lot of things pointing to big gains for e-commerce retailers in the Home and Garden category. Homeowner spending on improvements and repairs will approach $340 billion in 2018, up 7.5% from 2017. For perspective, this is about half of the holiday season spending in 2017 according to the NRF, which stands as retailersâ€™ barometer for success. Â Itâ€™s a massive numberâ€”and demands some thoughtful planning from onlineÂ retailers who want to respect this market in the same way they respect the holiday shopping market.
Below are some digital marketing insights and tips for online retailers looking to tap into these massive opportunities.
As the Boomer generation ages (theyâ€™re 52-70 in 2018), their demand for homes that make their lives easier goes up. This just makes sense, and if Home and Garden retailers are paying attention theyâ€™ll make fast moves to secure this market. While research shows increased demand for specifics like walk-in tubs, chair lifts, ramps and grab bars, itâ€™s important to recognize that those items require extensive remodeling in order to accommodate them. A walk-in tub, for instance, is going to need a total bathroom remodel to make the bigger size work.
On average, accessibility accommodation remodeling is a $5,000 item. While this number may remain constant for a short period, more and more people will be doing their own accessibility accommodation remodeling. Over the next 20 years, this â€śtrendâ€ť will prove itself to be the new normal.
What should digital marketers do about this?
2. Millennials will move from the bedroom to the whole house
Right now, Home and Garden sees Millennials showing up for bedroom furniture. Theyâ€™re heading to college or theyâ€™re done with college and setting up their own pad. Either way, that bedroom furniture is going to be at the top of their list. For now. As this massive market ages over the next few years, theyâ€™ll occupy the highest-spending Home and Garden age group: 35-44. We cannot over-state the impact that this generation has and will continue to have on spending. For Home and Garden retailers, this coming influx of shoppers should have you cackling with glee.
What should marketers do about this?
As the summertime fever hits, Home and Garden retailers will be looking for every opportunity for new ground. Keep these tips in mind for a successful seasonâ€”and decade.