During a move, consumers embark on an experience of fresh beginnings and even take on an “all things new” attitude. This means investing in new furniture, appliances, décor, tools for home improvement projects, new services, and many other elements. How can companies leverage this mentality to drive sales? Let’s uncover some of the shopping behaviors of new movers.
New Movers’ Research Behavior
We’ve uncovered many research behaviors of new movers driving purchases in our 2022 New Mover Trends Report.
Studies show that research is an important part of the moving journey. Half or more of new movers did or anticipate doing research for moving services and home insurance prior to moving. Researching opportunities to utilize a moving service makes sense given the busyness of daily life for many Americans. Chances are if it fits into the budget, saving time and hassle can really help the entire moving experience. Shopping for home insurance is something that should be done right away for those buying a home or moving to a new place, so it makes sense that a large number are opting to shop for it before the move begins.
On the other side of the pendulum, less than half researched or anticipate researching mortgages and inspection services. This probably makes sense when looking at the different needs of buyers and renters. Since renters don’t need to shop for mortgage companies and rates, nor do they need to have a home inspection done prior to buying, it makes sense this number would fall under 50%.
Time Spent in the Researching Phase
Moving to a new home requires a lot of planning and coordination. When it comes to finding services related to the moving process and an easy start to life in their new homes, new movers need to plan ahead. Some services need to be researched further in advance of others. When buying a new home, there are additional elements of research that are critical to finding the right place at the right time.
Mortgages and home inspections are elements that need to be taken care of further in advance than researching home insurance and moving services. For that reason, we’ve found that new movers are spending on average 4.3 months researching mortgages prior to the move. It’s followed by home insurance at 3.6 months, moving services at 3.3 months, and home inspections at 3.2 months.
Seeing these numbers solidifies how important it is for brands to engage with movers during that pre-move phase. Reaching consumers early in their moving journey while they are still reviewing their options is key to being top of mind and earning their business.
Timing of Purchases
Since moving requires a lot of planning ahead, new movers are predominately paying for items and services prior to the move. Of new movers who did/ anticipate they will pay for items/services during the process of their move, 72% do so prior to the move, while 44% do so after moving.
How Much Movers Spend
Moving isn’t cheap. Most of us already know that and can remember a time when we looked back at our new move and our new homes and realized we spent more than we planned. With this in mind, we can already anticipate the number is in the thousands, but where are they spending these large sums of money?
Some of the highest amounts are being spent on items and services for solar energy, roofing, home improvement, flooring, furniture and décor, appliances, windows, automobile needs, and moving services. In fact, on average items and services related to solar energy topped the charts in 2022 with new movers spending or anticipating more than $4,200. This is followed by the next highest around $3,500 for roofing. The home improvement portion came in around an average of $2,900 with flooring, home décor and furniture, and appliances coming in right behind that.
Not to be forgotten, some of the most important services that are ongoing and crucial to the ease and comfort of a new move include services like utilities, home security, cable, or streaming services, and of course, internet. For many of these, there are new set-up fees and consultations that should be budgeted for outside of monthly bills. When moving to a new area there are additional things to think about. Doctors, dentists, pet care, and many other healthcare needs are all services that can’t be neglected. Finding and setting up first-time visits may cost additional funds outside of regular visits and should be included when budgeting for a move.
Moving isn’t cheap. It takes time to research and find the best options for everyone’s moving needs. Planning and shopping early are keys to an easier move. Marketing to new movers early is the key to earning their business and a good shopping experience will increase the likelihood of keeping them loyal to your brand.
Proprietary New Mover Audience & Marketing Solutions
At Porch Group Media, we understand new movers: who they are, what they’re shopping for, and how to target them. Our new mover audiences are enhanced with rich insights into consumer preferences, lifestyles, interests, property data, and billions of purchase intent signals for unparalleled insights. Contact us today to learn how we can help you start turning new movers into new customers.
Download the 2022 New Mover Trends Report
Download the 2022 New Mover Trends Report to explore the state of today’s new movers and uncover valuable opportunities to reach this lucrative audience of in-market shoppers.