Page 40 - Lighting Magazine September 2019

2019 ForecastnHENRY 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.nThe 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.nThis might leave you thinking, where do they t? The answer is: Everywhere and anywhere they want to t!nAs 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.nHome projects will depend on generation, fam- ily size, and need. Understand that HENRYs cross some of these lines as we examine the graphics.nWhen 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.nLastly, needs will vary depending on region as there will be weather and seasonal considerations and impact. nPREFERRED HOME IMPROVEMENT PROJECTS BY REGION SOURCE: REALTOR.COMnWestn1. Earthquake protection retro tn2. Install or replace swamp coolern3. Service or repair swamp coolernMidwestn1. Install glass blocksn2. Install egress windown3. Repair or replace sump pumpnSouth Northeastn38 enLIGHTenment MagazIne | January 2019nwww.enlightenmentmag.comn1. Repair pool enclosuren2. Install security or storm shu ersn3. Repair security or storm shu ersn1. Install oil boiler or radiator heating systemn2. Repair oil boiler or radiator heating systemn3. Install oil furnace/forced- air heating systemn