Hardware Retailing

APR 2017

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

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Page 22 of 88

HARDWARE RETAILING | April 2017 18 Trends Spending Time on the Kitchen Homeowner spending on kitchen upgrades is on the rise, according to a recent study from Houzz, the online home improvement community. In November, Houzz surveyed more than 2,700 homeowners who were in the midst of a kitchen renovation project, were planning one or had recently completed one. Nearly 90 percent of the survey respondents hired professionals to do their remodels. Of those people, more than half hired general contractors and a quarter of them hired a kitchen designer. Overall, they also spent more in 2016 on their projects than participants in the same study the year prior. The top major features homeowners chose or planned to upgrade in their kitchen renovations included countertops, backsplashes and sinks. 18 HARDWARE RETAILING | April 2017 Homeowners Who Hired These Pros for Kitchen Remodels 95 % Countertops 90 % Backsplash 89 % Sink 88 % Faucets/ Plumbing 86 % Wall Finish 84 % Lighting Fixtures Major Features Homeowners Upgrade During Kitchen Remodels Homeowners surveyed who completed, are planning or are currently working on renovations chose to do the following projects: Source: 2017 U.S. Houzz Kitchen Trends Study 54 % General Contractor 25 % Kitchen Designer 14 % Interior Designer Applied to Retail Even if your pro customer base is small, you can work with remodelers and designers to build relationships with homeowners who are planning projects. Getting to know pros can be beneficial to your business and theirs. Do the pros you know understand the extent of your product offering? They may rely on your business for plumbing parts, but might not realize you can order cabinet doors and specialty knobs that their customers can't find at the big-box stores. Find ways to educate your professional customers on what you offer, but further nurture your relationships with them by referring your DIY customers to them. If you don't know many contractors or designers, brainstorm ways to connect with them so you can attract them as customers, but also use them as resources when your everyday shoppers ask for referrals.

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