In-home sales have historically been an effective means of reaching and selling to customers. In today’s market, distributors and sellers of cleaning systems and home water filtration systems need every available tool to make the most of their efforts. Understanding and taking advantage of current market trends can increase sales and revenue regardless of your market.
Read on to explore four trends that help distributors and sellers of in-home products and how your business can capitalize on these trends to win more sales.
1. An Altered View of Home
The COVID-19 pandemic affected and still affects many aspects of our everyday lives. For months, many individuals stayed home instead of going out, cooked meals instead of ordering from restaurants, and worked from home instead of at the office.
These significant behavior shifts resulted in an altered view of what “home” means. Almost overnight, the home became more than a place to sleep. It’s where many spent all day and all night: working, recreating, and resting.
After being confined to their homes for days, weeks, and, in some cases, months, homeowners quickly discovered aspects of their spaces that they loved and elements that needed to change. These realizations caused a boom in the home renovation and repair industry.
Homeowners realized that investing in their homes could drastically improve their quality of life, especially as they were confined to their home day in and out. This translated to significant growth for the in-home product industry, including home repairs and renovations.
Consumers weren’t traveling or spending money on typical recreational activities, so they poured that income into improving their homes. And while some travel has resumed and many COVID restrictions have been lifted, we haven’t ultimately returned to life as we once knew it.
McKinsey reports that most Americans –– 58 percent –– work from home at least one day per week. In a post-pandemic world, homeowners enjoy flexible work settings that allow them to spend more time at home.
Sellers of in-home products are positioned to sell more as their client base understands the necessity of a clean, safe, functional, and enjoyable home. In-home distributors can –– and should –– take advantage of the post-pandemic homeowner’s view of the home. As individuals spend more time at home, they want products and solutions that make their homes a haven for themselves, their family, and their friends.
2. Increased Hygiene Standards
More than ever, Americans place great emphasis on health, cleanliness, and hygiene. Over the last two years, homeowners have sought methods to keep their homes clean and safe. The growth of the household care market proves that Americans invest in in-home products that improve their health and well-being.
Increased hygiene standards compel shoppers to purchase products that create a clean home. In-home distributors selling cleaning systems, water filtration systems, and other similar solutions benefit from this increased emphasis on household care. These categories have experienced a renewed interest among homeowners, especially since the beginning of the pandemic.
And because consumers are willing to do anything to keep themselves and their families safe, in-home product sellers, especially those in cleaning- and health-related industries, see increased interest in their high-end, big-ticket inventory. Consumers will upgrade their purchases to secure the most effective products when their health is at stake.
3. Evolving Expectations of Convenience
As customer expectations evolve, so does the retail landscape of distributors and sellers of in-home products. Consumers expect convenience at every step of the buyer’s journey. Gone are the days when consumers travel to the store to inspect products in person. They want efficient, simple retail experiences that deliver the goods and solutions they want with as little work on their part as possible.
In-home sales representatives target this desire for convenience and efficiency by eliminating the need for the consumer to travel to the store to try out a product. The hallmark of the in-home seller involves in-person, door-to-door sales. An effective sales presentation delivers all the product information the customer needs to know to make a confident, informed purchase. It all happens from the comfort and convenience of the shopper’s home.
Through lead nurturing and sales skills –– plus the essential people skills necessary to endear consumers and close the sale –– in-home distributors can meet customer needs with almost zero effort from the customer themselves. Today’s shoppers expect a personalized experience, and who better to deliver on that expectation than an in-home seller primed to sell to each client?
4. Demand for Alternative Payment Options
Buying behaviors, specifically how customers choose to pay for their items, play a role in which retailers consumers shop with. In-home sellers have historically accepted traditional payment methods. But consumer demand for alternative payment options is driving the growth of the consumer financing market.
Installment loans are expected to swallow roughly 15 percent of the credit card market by 2025. According to Forbes, 42 percent of Gen Z and Millennials shoppers (retail’s biggest spenders) are more likely to purchase when they have an installment loan payment option.
With new expectations –– and for many industries, demands –– for financing options, distributors and in-home sellers can capitalize on consumer financing to meet customer needs while making more sales.
In-home sales hinge on the seller’s ability to close the deal on the spot or soon after the sales meeting. And one critical component of an effective sales pitch is showing the consumer that they can comfortably and confidently afford the purchase. The price tag of a big-ticket item might scare off a potential customer. However, when sellers provide a financing option throughout the sales conversation and at the point of sale, shoppers understand that they can afford the scheduled monthly payments without disrupting their planned monthly budget.
More than three-fourths of consumers are more likely to purchase when presented with a simple, seamless payment plan. By partnering with a customer-centric consumer financing firm, you position yourself to cultivate customer confidence and close the sale.
Choosing a Financing Firm for Your In-Home Sales Business
As we’ve discussed, various market trends favor the continued growth and success of distributors and sellers of in-home products. Whether you’re in the home repair or renovation business, provide water filtration systems, sell home cleaning systems or cookware, or various other home products and services, you must partner with a consumer financing firm that knows your needs and those of your customers.
United Consumer Financial Services utilizes decades of experience to serve your business, providing financing options and support that cater to your unique customer base. Reach out today to learn how our financing services can help you achieve –– and exceed –– your goals.