KBzine: the original kitchen and bathroom industry e-news - since 2002
23rd March 2018
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Make the most of millennial demand, says HiB
With a new report by Houzz highlighting a high percentage of UK millennials choosing to update their outdated or undesirable bathrooms rather than relocate, HiB is suggesting to retailers to make the most of this potentially lucrative opportunity.
According to a new report by Houzz, over half (57%) of millennial homeowners (aged 25 to 34) renovated their home in 2015 and a huge 79% have recently redecorated. Furthermore, the research shows updating an outdated or undesirable design or style was the top issue addressed for home improvement - with over half (53%) saying this was a key focus for the bathroom.
Ash Chilver, sales director at HiB comments: "Interestingly, the survey shows a bathroom that's upscale and high quality is the top 'budget-buster' for 48% of homeowners, showing that millennials are willing to pay for premium. As such, it's important for KBB retailers to ensure they take stock of emerging new trends and high quality designs to unlock the full potential of this opportunity."
As a business committed to driving bathroom innovation, HiB has recently launched new high-end bathroom furniture ranges through its HiB Novum brand - all designed to entice the discerning customer seeking the height of fashionable design.
Ash adds: "Paving the way for modern living, our new HiB Novum ranges are guaranteed to ensure a broad appeal - combining clean lines with integrated storage and a choice of mineral marble washbasins for a real contemporary appeal.
"Equally, that's not to forget the importance of well thought-out design details. Our Alpine mirror, for instance, features the option to switch between bright, cool light and warmer, softer LED tones, making it ideal for modern-minded millennials looking create a mood setting.
"Given the greater precedence on the bathroom in recent years, today's consumers are making choices that, while current, will pass the test of time. Those who take advantage of this escalating opportunity will be the retailers who will remain at the forefront of the market."
21st October 2016