Benefits of Becoming HIRI Member: Upcoming Research Releases

The home improvement industry has seen significant shifts this year, especially with the rise of DIY projects due to stay-at-home orders. Keeping up with how homeowners and construction professionals make their purchasing decisions is a challenge. 

With a HIRI membership, however, manufacturers and suppliers can stay on top of shifting trends in the home improvement industry when it comes to channel behavior, project behavior and overall market conditions. 

HIRI (Home Improvement Research Institute) a member-driven nonprofit organization dedicated to home improvement research. HIRI members get exclusive access to empowers actionable research to make better sales, marketing, product, customer and channel decisions for your company. 

How Channel Behaviors Are Changing

Right now, consumer behaviors in home improvement are in flux, in a way that we haven’t experienced before. 

“Customer preferences are undergoing a step change—toward online retail, remote working, and more sustainable communities, to name just a few examples,” according to global leaders of the McKinsey Engineering, Construction and Building Materials Practice. 

“It is not yet clear what other shifts might emerge, but we can assume many of those will likely become ingrained and normalized in customer preferences, permanently,” according to McKinsey.

If you’re not keeping up with this evolving and ever-changing purchasing economy, you won’t have an understanding of DIYer and contractor behavior: what they purchase, how they purchase and where they purchase. That information is what helps you market to the right audience. “Therefore, it’s more important than ever to stay close to current (and future) customers,” according to McKinsey. 

A HIRI membership gives manufacturers, retailers and other home improvement organizations information needed to understand customer behaviors and how they change over time. 

And there are a few other benefits that come with being a member.

Benefits of a HIRI Membership

HIRI conducts research throughout the year among DIYers and Contractors which is shared only with HIRI members. This exclusive data benefits dealers and manufacturers in a few ways:

  • Executives and leadership have concise summaries on key project, product, customer and market trends for quick takeaways to impact strategic decisions.

  • Managers have organized reports on home improvement activities that can be utilized in product, channel, sales and marketing initiatives. 

  • Raw data from HIRI gives your team the opportunity to build out your own tables and banner reports. 

Exclusive research from HIRI helps your organization gauge what’s going on in the industry so that you can withstand industry changes and make better business decisions. 

Source

HIRI members get access to research studies that aren’t available anywhere else, including multi-year forecasts for consumers and professionals in the U.S., quarterly home improvement tracking studies, and product purchase studies. During the current COVID-19 crisis, members have access to HIRI’s proprietary tracker (created in partnership with The Farnsworth Group) on the behavior of DIYers and Pros.

Besides the comprehensive research that members get access to, members also benefit from networking events (some in-person, some virtual), exclusive webinars and monthly news highlights so that professionals can stay on top of construction news and industry developments. 

Establishing a Future in the Home Improvement Industry

The Home Improvement Research Institute is composed of top retailers, leading manufacturers and trusted publishing companies and trade associations in the home improvement industry. HIRI’s research helps keep companies ahead of the competition and gives you the data you need to make wise business decisions. 

Want to see what research is being performed this year for the home improvement industry? Here’s what’s ahead for HIRI members:

JULY 2020: HIRI’s Retail Selector study will be featured, along with research on preferences for consumer shopping.

JULY 2020: In this month, HIRI will publish an updated Product Purchase Tracking Study.  

AUGUST 2020: Get a look at how consumers and professionals handle project planning when you explore HIRI’s Consumer Project Planning in Home Improvement study.

SEPTEMBER 2020: HIRI members get access to the Size of Market Study, with regional and state information.  

OCTOBER 2020: HIRI will give members access to the most recent Home Buyer study. 

NOVEMBER 2020: Members can take a look at HIRI’s updated Consumer Project Planning in Home Improvement studies this month. 

DECEMBER 2020: Get a glimpse into consumer demographics and characteristics, and take a dive into HIRI’s Generation analysis study. 

Along with all of these future research projects, you get access to HIRI’s entire back history of research, so you can see where consumers and professionals were in the past, where they are now and where they are headed in the future. 

If you’re ready to invest in the future of your business, contact HIRI today to become a member. Or stay in touch with HIRI and keep up with industry trends when you sign up for the HIRI Newsletter.

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