Home-movers have been identified as one of the most attractive consumer groups during the cost-of-living crisis, contributing an estimated £29 billion to the economy this year.
According to TwentyCi’s latest Property & Homemovers Report
There are currently 1.36m households on the home moving journey, property data company TwentyCi has said, highlighting that this provides an opportunity for businesses ranging from DIY to home improvements and technology.
Its analysis found 308,699 households actively want to move, 231,938 are moving soon, 276,056 are moving now, 273,955 have just moved and 270,216 are settling in.
Home-movers are proven to spend across a vast range of categories. Aside from the obvious, such as DIY, home improvements, furniture, garden products and technology, TwentyCi said.
They reassess everything from gym memberships to cars, utility providers and even their next holiday given the stress of the moving process.
Colin Bradshaw, managing director of TwentyCi, said: ““Home movers touch pretty much every business-to-consumer sector.
“In a time when the cost-of-living crisis is having a significant impact on consumer spend, knowing there is a market that will be spending regardless is incredibly valuable for UK businesses.”