Page 40 - Lighting Magazine January 2019

2019 Forecast
HENRY was lauded as the “gatekeeper to the luxu- ry market,” and retailers dubbed HENRY the “next high-value consumer demographic.” This makes sense. The path to adult a uence most likely be- gins for most as a HENRY.
The HENRY demographic – with its cross- generational borders that include Millennials and Xennials – remains a relevant and viable target today. Current HENRYs tend to be between 28 and 40 years old and represent a sub-segment comprised of both upper-spectrum Millennials (the new Xennials) and la er-end Gen Xers.
This might leave you thinking, where do they t? The answer is: Everywhere and anywhere they want to t!
As we kick o 2019, we need to be mindful of some of the cautionary tales and focus on steady growth. More importantly, there are interesting and innovative ways to segment and market to consum- ers, whether they are buying, selling, or staying put.
Home projects will depend on generation, fam- ily size, and need. Understand that HENRYs cross some of these lines as we examine the graphics.
When market conditions shi and selling/buy- ing is not an option, home improvements become the focus. The scope of these projects will vary depending on the age of the home.
Lastly, needs will vary depending on region as there will be weather and seasonal considerations and impact. 
PREFERRED HOME IMPROVEMENT PROJECTS BY REGION SOURCE: REALTOR.COM
West
1. Earthquake protection retro t
2. Install or replace swamp cooler
3. Service or repair swamp cooler
Midwest
1. Install glass blocks
2. Install egress window
3. Repair or replace sump pump
South Northeast
38 enLIGHTenment MagazIne | January 2019
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1. Repair pool enclosure
2. Install security or storm shu ers
3. Repair security or storm shu ers
1. Install oil boiler or radiator heating system
2. Repair oil boiler or radiator heating system
3. Install oil furnace/forced- air heating system