The Importance of Furniture Retailers Prioritising Their Marketing Right Now
Published by TwentyCi on 25th June 2020 -
According to Springboard* retail footfall in England increased by 45% last week as the latest round of lockdown easing took effect. However, with the year on year drop an eye watering 54%, prioritising marketing to attract those customers with the propensity to spend is essential. When you have limited capacity due to social distancing, browsers with no intention to purchase are more than a luxury.
It's critical that you get the customers in through your doors who are most likely to buy and likely to spend the most when they do. For any retailer of home furnishing products, homemovers should be firmly in the spotlight. Our recent insight highlighted the Top 5 purchases made by a homemover underlining the massive value this sector delivers to the home furnishings sector.
Today there are 3 significant opportunities for retail marketers to generate immediate results -
No 1 – nearly 300k house moves had occurred in Q1 before the enforced lockdown, many of whom have been thwarted in the opportunity to furnish their new home whether this was with carpets, curtains, decorating, furniture, kitchens, bathrooms or soft furnishings.
No 2 – the property market in England has now been open for over 5 weeks. There are nearly 350k homeowners who had sold their property prior to lockdown. This large audience who had been “held back” are now rapidly progressing their home move embarking on an intensive spending period in preparation for furnishing their new home.
No 3 – ironically those homemovers whose transaction has fallen through or been withdrawn provide another significant opportunity to retailers. From our extensive experience we know that when this occurs and the homeowner decides to stay put, their initial frustration is replaced by needing to fall back in love with their existing home. Without the need to fund removers, conveyancing and stamp duty their budget to stay & improve will unlock spending across almost every home furnishings category.
If you need footfall, focus on those customers who are “in market” with the immediate propensity to spend.
Here at TwentyCi we are the leading data & insight provider for the UK property market and compared to our next best competitor, TwentyCi have 67% more households. We are also multi-channel with engagement available across direct mail, email, social, digital display, mobile and television. We can help you engage with new audiences that you haven’t engaged with before, and tell you who of your existing customers are in the home move journey so you can change the communications you send them, making them more relevant.
For the marketing programmes we support, our data & insight typically delivers an ROI of over £20 to every £1 spent.
So, if you are looking for the best bet to boost your business post lockdown we can help you make sure the right people come through your doors...
*Source – Springboard Insight