07 Oct 2014

4 key trends to help you grow

You can grow and make good money in today’s market, but only by promoting the right products to the right prospects, at the right time in the right way. To grow you need to be where growth is, says MRA's Director Lucia Di Stazio.

You can grow and make good money in today’s market, but only by promoting the right products to the right prospects, at the right time in the right way. To grow you need to be where growth is.

The shift from new build to RMI, and to sustainable and ‘Green’ are probably on everyone’s radar, but what other trends should we be watching?

1. Static wages, a rising cost of living and the internet are changing consumer habits. Shoppers are becoming reluctant to drive to out of town hypermarkets. Big retailers are rethinking their strategies. Expect an integrated mix of smaller formats and ‘bricks and clicks’ as online purchasing moves into the mainstream and consumers buy closer to home. The population is ageing and older consumers are demanding smaller stores that are more conveniently located and easier to navigate. Tesco expanded its ‘dark stores’ – stores without customers that fulfill orders placed online. Each new dark store enables Tesco to redesign 10 regular supermarkets to make them easier to shop in. Home deliveries are growing, and shoppers can also ‘Click and Collect’ from 92 stores. As an online strategy, ‘Click and Collect’ could have been designed with merchants in mind.

2. Smartphones and tablets are even changing how we pay for things. Paying by smartphone is likely to become the norm within a few years with Google’s Wallet, Apple’s iWallet and other easy payment methods. Who will your trade customers buy from during your out of hours’ downtime?

3.The over 55s will account for more than half consumer spending growth in developed markets over the next twenty years according to the Boston Consulting Group. They are healthier, more active, wealthier and own more assets eg housing. They’ve the longest life expectations in history.

Older homeowners have always been critical to home improvements, and they will become more so. Yet – strangely – as the largest single target market they have been generally ignored by marketers.

Neilson the research company says while those over 65 watch the most television in the US, close to seven hours a day, they are targeted by only five percent of advertisers. Now, with markets under pressure, retailers worldwide are tuning their marketing to the over 55s.

4. Multi-generational households are now common. Recession, mortgage difficulties, a shortage of suitable housing and the cost of care for young and old have revived the practice of several generations living under one roof. They need living space – and home improvement.

Insurance giant Aviva researched of 14,000 adults and found 73% of over 18s had some experience of living as part of such a household. Nearly 18% were students living with parents. One in ten were young couples living with one set of parents, and a smaller proportion were young adults who had moved back home after a break up. In 17% of cases families had welcomed an older generation into their homes. In these homes, space and room to live becomes a problem as queues for the bathroom and kitchen and what to watch on television creates tensions.

Four key trends, four big opportunities that will govern your growth.

If you need to grow follow us on LinkedIn or contact Lucia Di Stazio on 01453 521621 or lucia@mra-marketing.com, or find out more about MRA Marketing.

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