Despite millennial growth in the workplace, Boomers are the ones spending on their homes Email
Colorado Green NOW
Tuesday, February 23, 2016 03:00 AM

 

Baby BoomersWith all the talk about targeting millennials for the workforce, landscape company owners shouldn’t lose sight of other demographics when marketing their services. Baby Boomers are still considered the best prospective customers, according to recent research.

In the recent 2016 Houzz State of the Industry Webinar, it was reported that, based on current research, Baby Boomer consumers will continue to drive business for home and landscape renovations. This generation accounts for over 80% of spending dollars via Houzz. With nearly two-thirds of Baby Boomers planning to stay in their current homes, there is a market for those looking to renovate or refresh their indoor and outdoor living spaces in the near future.

In fact, home improvement spending in 2015 is estimated to top 2007’s spending estimate, according to a Harvard University study. This marks a return to “normal,” pre-recession spending. Many landscape companies are expecting double-digit growth in revenue and profits for 2016.

Surprisingly to some, millennials make up 32% of the population but are spending the least on home remodeling and landscape work. So when looking to expand your business and attract new clients, be sure to reach out to past clients and those who haven’t changed homes in recent years. They might prove to be your best prospects.

View the full Houzz State of the Industry report at info.houzz.com/research.

 
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