Page 38 - Lighting Magazine September 2019

2019 ForecastnHow These Stats Apply to You (continued)n 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.nConsumers 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.nCooking 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.nUp 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 backnof 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.n 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.nBe 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.nBe 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.n 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.nwHo’s doing wHAt, wHere, And witH wHAt? tHe demogrAPHics of Home rePAir And remodelingnEven 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.nPam 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.nThe 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,nPREFERRED HOME IMPROVEMENT PROJECTSnBY INCOME LEVELnIncome: $50,000-$74,999n1. Build carport (wood)n2. Repair antennan3. Install or replace swamp cooler 4. Install or repair gu ersn5. Trim or remove shrubsnIncome: $100,000-$149,999n1.n2. 3. 4. 5.nSOURCE: REALTOR.COMnIncome: $75,000-$99,999n1. Replace vinyl liner for swimming pooln2. Buildorinstallvinyl-lined swimming pooln3. Aerate lawn and lawn caren4. Repair or service above-ground swimming pool or accessoriesnIncome: $150,000-$249,999n1. Disability retro t unitn2. Build disability rampsn3. Computer repair, troubleshooting, or upgradesn4. Build pool enclosuren5. Install or repair security barsnService or relocate window A/C unitnPest controlnInstall alarm or security system Install window A/C unitnClean upholstery and furniturenIncome: $250,000+n1. Service or repair central vacuumn2. Repair outdoor lightingn3. Install or resurface tennis or game courtn4. Repair copper gu ersn5. Add or remove holiday lightingn36 enLIGHTenment MagazIne | January 2019nwww.enlightenmentmag.comn