Page 38 - Lighting Magazine January 2019

2019 Forecast
How These Stats Apply to You (continued)
 Consider hosting an “Open House” event. Choose your target audience and create an invitation, theme, and event that they will really want to a end and that will tell your story.
Consumers may enjoy spending an evening at your showroom with local designers who could share some secrets with them on selecting the right lighting xtures to create the style or mood in a room.
Cooking shows continue to be extremely popular, so perhaps host a Top Chef-type of competition between some locally known chefs. Or maybe an event that dem- onstrates how to create a spa-like environment within the home and the important emotional, intellectual, and physical bene ts it would have.
Up the glamour factor for your event. Most things are so casual that the gorgeous wardrobe pieces people have collected over the years are now hanging in the back
of their closets in dry cleaners’ protective wraps. Give them a reason to pull one of those beauties out and feel almost magical at your event. Wow them by having some hand-served, exceptional yet easy-to-eat nger foods and a few selected beverages served in glassware.
 Tried-and-true old-fashioned retail shopkeeping can make or break a showroom. The truth is that good retail- ing never goes out of style. Sometimes showrooms get caught up believing they’re not really a retail store...but they are. The only di erence is the product being carried out the door.
Be extremely aware of the appearance of your facili- ties from the street. Every person who drives or walks by is a potential customer. Don’t create a negative impres- sion with a li ered parking lot, a weed- lled landscape, or dark windows. Instead, catch their eyes with a well-tend- ed exterior appearance and a ention-grabbing window displays that make them want to take a second look.
Be involved in your community. By supporting various groups and charities, you’ll not only help improve your city, but also keep your showroom’s name in front of local residents.
 While some homeowners view the product selection process with anxiety, your expertise and calming nature can actually have the exact opposite e ect. The way you work with customers will turn the anticipation and planning stages into the most pleasurable part of their entire project experience.
wHo’s doing wHAt, wHere, And witH wHAt? tHe demogrAPHics of Home rePAir And remodeling
Even with all the statistics and trends, there can still be market uctuations that impact decisions regarding buying, selling and, of course, remodel- ing homes. It’s crucial for showrooms to know their consumers and the types of projects they might be undertaking and when they plan to begin.
Pam Danziger of Unity Marketing Group, who studies some of the world’s most powerful luxury consumers, has wri en a number of books, includ- ing several that focus on selling to the HENRY (High Earner, Not Rich Yet) generation. She has outlined a variety of ways this a uent group spends their money — and it is not always as one might think.
The term HENRY rst surfaced in 2003 as mar- keting jargon to identify consumers with an average household income of $100,000 to $250,000, and investable assets less than $1 million. In 2015,
PREFERRED HOME IMPROVEMENT PROJECTS
BY INCOME LEVEL
Income: $50,000-$74,999
1. Build carport (wood)
2. Repair antenna
3. Install or replace swamp cooler 4. Install or repair gu ers
5. Trim or remove shrubs
Income: $100,000-$149,999
1.
2. 3. 4. 5.
SOURCE: REALTOR.COM
Income: $75,000-$99,999
1. Replace vinyl liner for swimming pool
2. Buildorinstallvinyl-lined swimming pool
3. Aerate lawn and lawn care
4. Repair or service above-ground swimming pool or accessories
Income: $150,000-$249,999
1. Disability retro t unit
2. Build disability ramps
3. Computer repair, troubleshooting, or upgrades
4. Build pool enclosure
5. Install or repair security bars
Service or relocate window A/C unit
Pest control
Install alarm or security system Install window A/C unit
Clean upholstery and furniture
Income: $250,000+
1. Service or repair central vacuum
2. Repair outdoor lighting
3. Install or resurface tennis or game court
4. Repair copper gu ers
5. Add or remove holiday lighting
36 enLIGHTenment MagazIne | January 2019
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