J. Walker Smith, executive chairman of the Futures Company (a global consultancy firm specializing in future trends) shared consumer trends with attendees at PCBC. Using results from his company’s survey on what’s important to consumers and how they intend to focus their energy, Smith offered builders tips on the best ways to approach and win clients. He advises that consumers are shifting their focus away from frugality or thrifty behaviors and are searching for items or services that will lead to long-term happiness. Builders should tap into potential clients’ unyielding sense of optimism and show them how their home can help sustain those years of happiness they seek, according to Smith.
One of the primary ways consumers feel they will find happiness is through increasing the number and strength of their relationships with others. Of those surveyed, 76 percent responded that they prefer to spend money on experiences they can share. The way we connect with others is changing, however. Social networks, for example, play an increasingly important role in forming and maintaining relationships. So expect consumers to take into account what their Facebook friends think about a house as much as they consider opinions from people they see in person. Concerning the size and amenities of a home, Smith says to take note that 77 percent of today’s consumers say it’s important to be seen as a good neighbor and 89 percent as a good friend.
For more details from the session on consumer trends and demographics, click here.
