American movers more prone to open their wallets
According to the Zillow Mover Study1, 21 percent of movers spend over $10,000 or more on move related purchases. The study surveyed 3,000 American adults and considers movers anyone who is currently in the process of moving or who has moved in the last 12 months.
Of respondents, an average of seven months is spent on move related purchases – 3.2 months prior, and 3.8 months after the move, making this group a great target for local brands, as they are shopping for much more than a new home.
Movers are a tricky bunch, however, as the study revealed that moving has an impact on brand loyalty, and that movers are more likely to switch brands on household cleaners, skincare products, an even baby products than non-movers.
Movers are also more likely to spend more money on themselves. This group is more likely to buy a laptop (29 percent more likely), smartphone (26 percent more likely), and digital camera (22 percent more likely) than non-movers, and are 90 percent more likely to purchase a car within the first year after a move, too.
Movers are more likely to purchase kitchen and entertainment technology than non-movers, like home theater systems (386 percent more likely), a flat-screen tv (117 percent more likely), an oven (507 percent more likely), and a dishwasher (353% more likely).
Prime target: movers
Marketing staff of local businesses have an equal chance as big brands to make the first move to get in front of individuals that are moving homes. Whether partnering with utilities or mover services to co-brand, retailers and local services have a good opportunity to reach the people most likely to open their wallets – movers. But this opportunity is not simple, it takes persistence and a great deal of effort – being in the local coupon packet is not enough, so be creative and think about new and innovative ways to reach this often overlooked target.