The DIY Consumer isn’t always looking to pinch pennies. Products with higher price tags can often catch their eye if they meet the right requirements. Check out the list below to see how your company can grow market share with the DIY Consumer.
1. Smart Home Technology
29% of DIYers are likely to add some form of Smart Home Technology to their home in the next few years (1). Safety and convenience can warrant top dollar spending from DIY Consumers, and Smart Home Technology offers them both.
Two factors will get DIYers on board for smart home technology: installation and mobility. Smart Home Technology products need to be simple to install, and easily integrated with mobile apps for smartphones and tablets.
Online tutorials of installation and app set-up may close the sale with this tech-savvy consumer.
Smart Home Technology is just getting off the ground in the DIY market, which means all companies, big or small, can get ahead in the Smart Home Tech department if they get moving now.
2. Energy Efficiency
Energy efficiency ranks high on the DIY Consumer priority list. Lightbulbs, windows and doors used to be places to cut costs and go cheap when building or upgrading homes. Now these areas of the home are getting attention for their ability to increase efficiency in the home.
Including statistics on packaging and letting the DIY Consumer see the amount of energy they are saving may help to boost product sales even more.
40% of DIY Consumers are willing to pay more for products that will reduce waste.
3. Green Products & Companies // 4. Recycled Materials // 5.Waste Reduction
I bundled these related ideas into numbers 3-5 because whatever you call it, they all add up to one thing: dollar signs.
Almost 40% of DIYers agree that it’s worth paying more for green, waste-reducing and/or recycled products (1).
Sell upgrades on faucets, shower heads and toilets to help reduce wasted water or offer recycled flooring and countertop materials.
Although it’s important to show the consumer how your company as a whole is working towards green initiatives, your company saving the planet is not more important than price (1).
6. Short Cuts
DIY Consumers are willing to pay higher prices for quicker solutions and partially completed materials that will help them to get the job done faster.
Consider the recent release of primer and paint in one. One can of paint and primer in one usually costs more than buying a can of paint and a can of primer separately, but consumers are willing to pay more for the quicker solution.
7. Positive In-Store Experience
We all know how competitive online pricing can be, and even though price is not the main motivating factor for DIYers, it’s still important.
Research shows that most DIY Consumers will visit DIY retailer locations to familiarize themselves with products and options, even if they intend to buy online.
However, this same research shows that the DIY Consumer can be persuaded to make an in-store purchase, or at least purchase from the retailers website (and not a third party site like amazon.com) if they are met with a knowledgeable and friendly staff.
A positive in-store experience can build the relationship between your company and the DIY Consumer, and they will want to purchase from you, even if purchasing from your store or website means they pay a little more.
Seal the deal by offering in-store pickup for online orders, free home delivery for larger items and online tutorials that detail how to use the products sold in your store.
What perks or upgrades have you had success selling?
1. Mintel Group Ltd. (2013). DIY Home Improvement and Maintenance – US. Chicago: Mintel Group Ltd.