Concern over water quality is up across the board. Water safety, taste, and quality have become areas of interest for nearly all consumers. And with homeowners seeking avenues to access safe, clean water with an appealing taste, the water filtration industry grows daily.
Water filtration and in-home systems ensure water quality while aligning with consumer preferences. Understanding evolving technologies, expectations, and market trends allows water filtration manufacturers and distributors to best cater to their customers.
Trends In Water Filtration
This article from United Consumer Financial Services highlights trends in the water filtration industry and offers insight to help you take advantage of an upward-trending market.
Growing Demand for Water Filtration
The first trend in our list is the growing demand for water filtration in homes across the U.S. With an expected CAGR of 10.5 percent over the next ten years, consumers nationwide want and need options for water filtration.
Health concerns, increased desire for purified drinking water, and changing lifestyles culminate in a growing demand for in-home filtration systems.
Water filtration companies and merchants are positioned to increase sales volume and serve more clients than ever. Understanding consumer pain points and how to market your water filtration company will allow you to capitalize on the present market boom.
Surge of Water Filtration Technology
As demand increases, filtration companies must innovate to keep up. Many emerging technologies are reshaping the water filtration industry and the equipment available to consumers.
Water filtration technology has transformed since the entrance of in-home systems into the mainstream market. Recent years have seen a surge in technological advancements that have caused us to rethink what water filtration can do. Below are a few modern filtration technologies:
- Nanotechnology
- Acoustic Nanotube Technology
- Photocatalytic Water Purification Technology
- Automatic Variable Filtration Technology
We won’t explore these advancements in detail, but their role in the industry is crucial as water filtration companies innovate their product lines. Emerging technologies like those above enable more effective filtration at every level, including at-home applications.
As in-home filtration becomes the norm, manufacturers and distributors must be aware of these technological trends to provide the systems consumers want while educating shoppers about their options.
Mineralization
In the past, water filtration systems stripped drinking water of everything: contaminants, chemicals, and minerals. Since then, the bottled water industry popularized alkaline and pH-balanced water. Now, water purification systems are capitalizing on this trend to offer in-home remineralization.
Many consumers opt for mineralized water for health reasons. Mineral water provides many potential health benefits, including
- Lowering blood pressure
- Strengthening bones
- Regulating blood circulation
But health reasons aren’t the sole motivation for mineralizing tap water. Consumer tastes have changed to prefer a mineral taste in their drinking water. With mineral water increasing in popularity, water filtration companies must deliver on this demand. Drinking water, coffee, and tea: all beverages can be improved by remineralization through filtration. And as even trace minerals are a critical component to taste, remineralization is an attractive feature to consumers shopping for water filtration systems.
Smart Home Filters
As many as 64 million U.S. households utilize at least one smart home device. An emerging trend in water filtration is its integration into smart home technology.
Consumers can access much of their personal information and data from their phones: bank account information, medical records, and smart home systems. Whether preheating the oven or setting the thermostat, homeowners can operate many appliances and major systems from their phones. Water filtration equipment is no exception.
Users can control in-home water filtration systems through app platforms on their phones, computers, or other mobile devices. Real-time updates provide insights that show various data points, including water usage and quality.
In an age where access to data is central to consumer preferences, smart home filters are rising in popularity among all consumers.
Financing Options
Individuals want clean, quality water, and they want it straight from the tap. Gone are the days of stacks of bottled water and plastic containers filling up the corners of our homes. Water filtration systems allow homeowners to draw crisp, clear, contaminant-free water from every home faucet.
Unfortunately, these systems require significant financial investment, and the costs are too high for many homeowners to cover in one lump sum. As a result, many individuals dismiss the idea of water filtration and continue with bad-tasting water that leaves a residue, all while spending hundreds every month on bottled water and gallon jugs.
What does that mean for the water filtration industry? Increased demand for flexible payment options.
Offering consumer financing through your business empowers shoppers to choose the system they want without settling, compromising, or postponing purchase. Partnering with a proven financing firm like UCFS enables you to offer quality financing services to your customers so they can readily choose you for their water filtration needs.
Financing options remove obstacles to purchase and show consumers they can more easily afford their new water filtration system. Through UCFS, you can offer affordable monthly payment options that allow your clients to upgrade their purchases for just dollars more per month. Without the burden of an upfront, lump sum payment, shoppers feel confident to shop for water filtration systems that meet their needs without exceeding their budgets.
Conclusion
The water filtration industry must evolve to meet customer demands. With more homeowners seeking filtration systems, manufacturers and distributors must try to gain a competitive advantage in the market and build a loyal customer base. Take advantage of the increase in demand and earn more sales by offering consumer financing.
Partnering with United Consumer Financial Services helps you provide financing options that make your systems more affordable and accessible to your customers. Contact our offices today to connect with a financing expert who can get you started with us today!