Home improvement marketing: how to stay ahead in 2023
As winter turns to spring, each year, millions of minds turn to home improvements.
But every year’s home improvement surge is different, governed by factors ranging from the state of the economy to the latest colour and design trends. Only when you understand what’s on the average DIYer’s mind can you hope to be one of the brands they’ll choose in 2023.
In this article, we’ll survey the home improvement outlook for the year ahead, summarising the relevant facts, figures and forecasts in one convenient place. Let’s start with what’s foremost on most people’s minds—the economy.
House purchases are likely to decline in 2023
Mortgage rates are rising and inflation is soaring. Understandably, the majority of homeowners (79%) say their priorities have changed when it comes to buying or selling their homes. In fact, 49% say they’ll be staying put because of the cost of living crisis.
Good news for the home improvement sector?
When people aren’t moving, they’re more likely to be improving. Furthermore, even those who do go ahead and buy property are more inclined to purchase a low cost “fixer-upper”. Which means more business for the home improvement industry.
Seven trends to watch out for in 2023
Money’s tight and the future’s uncertain, but people still want to enhance their homes. Tackling these concerns calls for fresh thinking from brands—and awareness of seven hot trends.
Trend 1: DIY is back
Many people are ready to spend on their homes and would like to hire tradespeople. But they’re finding that there’s a six to twelve-month waiting list for the right professionals. As a result, more and more younger consumers will try DIY for the first time in 2023. That’s why, despite tough economic conditions, the industry is set to continue growing.
Trend 2: TikTok is taking over
With the cost of living crisis continuing and tradespeople in short supply, home improvers are hungry for DIY tutorials and inspiration. Reaching younger home improvers by providing this type of content is vital—and 40% of Gen Z use TikTok, not Google, as their primary search engine. No wonder this fast-evolving platform is now flooded with DIY “how-to” videos.
Trend 3: maximalist design
Maximalism is big this year. Younger influencers are favouring bright colours, big murals and bold patterns. Why? Perhaps lockdown made everyone overfamiliar with their homes—and keen to make them more joyous and vibrant as a result.
People are clicking on videos and other content that show how to paint home murals on neutral walls, spice up beige furniture with vivid upholstery, and add splashes of brilliance to laid-back spaces. Even cleaning hack guru Mrs Hinch has moved away from her favourite grey crushed velvet for the latest makeover.
Trend 4: Lick has clicked
Proof that bright colours can be brilliant for business is the success of new online decor brands such as Lick. They appeal to the young generation of DIYers by offering a range of bolder colours, with innovations such as reusable testers. Revenue grew by 400% in 2021 alone, so they’re doing something right.
Trend 5: textured walls
Panelling was huge in 2022. MDF panels and nail guns were flying out of DIY stores. The textured wall trend will continue in 2023, but with a difference. We’re expecting to see more organic shapes with fewer clean lines.
Trend 6: sustainability
Today’s consumers are genuinely concerned about the future of the planet and actively pursuing sustainable solutions for their homes. They also know that sustainable often means affordable.
In decor, this means hunting for antiques or second-hand furniture. Repairing rather than replacing. DFS has caught on with its campaign to give old sofas a new lease of life.
Trend 7: small is beautiful
When there’s no money for a big project, homeowners are focusing on small-scale improvements. Can’t afford a new kitchen? Paint cabinets or replace handles. There’s lots of business for home improvement brands here.
How home interest brands can stay relevant in 2023
Just a few of the ways your strategy can adapt to this year’s market conditions.
Add AR to your armoury
By harnessing augmented reality technology, the Dulux paint visualiser app allows users to try out shades on their walls before committing to buy. Is it a viable alternative to tester pots? More than 500,000 downloads on the App Store suggest that the answer is a big yes.
IKEA Place is another outstanding application of AR combining with AI. It allows users to ‘place’ items within the home and gain confidence that bolder choices will work in their living space.
Integrate TikTok into your strategy
As mentioned earlier in this article, more and more DIYers are TikTokers. Home improvement tags are booming on the platform. By developing a TikTok strategy, your brand can tap into a huge audience hungry for home-loving content.
Adopt an influencer management strategy and you’re getting straight to the heart of the huge audience TikTok opens up for you. But which influencers? Talk to the TrunkBBI team. We have the influence—and know-how—you need to harness the power of influencers.
Be ready to adapt products
In 2022, Homebase responded to the panelling trend with ready-made DIY kits that proved an instant hit and sold out quickly.
We’re constantly tracking trends, so keep talking to us at TrunkBBI. We’ll make sure you’re ahead of the game when it comes to product innovation in 2023.
Develop an agile content strategy
The cost of living crisis isn’t going away, so neither is the DIY trend. Research suggests that young DIYers are increasingly confident and keen to try new skills. In this fast-changing market, your brand needs a content strategy that can adapt at pace.
In the year of DIY, don’t try to do it yourself
Our team is here to help you develop an omnichannel campaign with content that resonates with the new generation of DIYers. Ready to talk? Get in touch today.