With big box stores, like Lowe’s and Home Depot, reaching and in some cases surpassing their sales numbers, it’s easy to see that home improvement projects are on the upswing and driving sales. But it’s no longer about selling the traditional upgrades— new kitchens, appliances and such—it’s also about new big ticket items. What those new items are and who is buying them nowadays might surprise you.
The highly coveted Millennial shopper is ripe for the taking as they shift into new life stages. Home ownership among this shopper base continues to rise. According to the National Association of Realtors report, 35% of Millennials currently own homes. In addition, 89% are buying existing properties ripe for renovation.
While millennials are known for redefining almost all they touch, it’s time to look at what appeals to this audience as homeowners: Quality, convenience and of course, technology.
What are some of the truly big ticket items on the radar this year? According to HBS Dealer’s April 2017 issue these are a few of the ones to watch: