Figuring this out NOW just became your #1 priority… and you have until 2024 to work this market like no other.
If you’re a smaller retailer going up against online or enterprise retailers, time is of the essence especially for you.
The Freedonia Group (link: https://www.freedoniagroup.com/), a renowned market research firm, projects consumer demand for outdoor products to increase 3.8% annually. That means sales close to $12 Billion by 2024.1
Covid-19 caused demand to boom once lockdowns became an ever-present reality in 2020. And for many states, this reality is still very much the case, whether by government mandate or self-imposed by individuals.
For retailers in this vertical, residential and commercial consumers see your outdoor furnishings and appliances for their outdoor kitchens as a necessary investment. These items are no longer discretionary, and that’s great news when it comes to what used to be a harder to sell item like smart-home integration.
Who are your top buyers?
In the new normal, that would be almost every major demographic, albeit for different reasons.
- Millenials – want entry-level outdoor furnishings for their starter homes.
- Gen X – are going after the nifty upgrades and up-sells to go with their outdoor kitchens.
- Boomers – while downsizing, are still making big investments in their quality of life on the home front.
- Urbanites of Any Demo – need smaller-scaled furnishings for tiny-living environments.
Gotta think that the new normal will remain even after lockdowns are lifted. Consumers now realize that “la dolce vita” can happen at home instead of elsewhere. And if consumers work from home, working al fresco overlooking their outdoor kitchen and newly landscaped backyard oasis definitely has its benefits.
Take a look at these stats from Overstock.com… by 4/1/2020 right after lockdowns took place, they saw a 225% increase (year over year) in patio furniture sales with a 360% increase (year over year) in pool and gardening products.2
Now, how do your prospects finance something like outdoor patio furniture or a gourmet grill if they have bad credit?
There’s a simple no-cost solution for you to give your customers the shelter-in-place retreat they deserve.
Joe The Finance Guy has a No-Credit-Needed Payment Program that can approve customers for up to $5000 within 25 seconds regardless of credit history. Customers can complete a quick 1-page application online or by phone.
All one needs to qualify is:
· 3 months consecutive income
· 90 days with a checking account
· Make over $1000 a month
Joseph Stepke is here to serve the Home Furnishings Community and give your retail customers the peace of mind needed for themselves and their families.
1 Salandro, Vincent – https://www.remodeling.hw.net/products/freedonia-group-projects-demand-for-outdoor-furniture-and-grills-will-weather-coronavirus-impact-and-grow-in-long-run_o
2 Settembre, Jeanette – https://www.foxbusiness.com/lifestyle/outdoor-furniture-sales-up-ahead-of-summerby