Industry Trends
Marketing Insights
Research can tell us quite a bit. And, when experts from different building product categories come together, their collective wisdom reveals even deeper insights. That’s why I was so excited to hear four Wray Ward clients participate in an International Builders’ Show (IBS) panel conversation with Liza Hausman, vice president of industry marketing at Houzz. Together, these thought leaders and change makers discussed the formidable regret factor — and how manufacturers can help combat it.
Every three years, the Research Institute for Cooking & Kitchen Intelligence (RICKI) releases comprehensive Regret Factor research that examines the science behind underspending in home improvements, specifically in the kitchen. What drives homeowner dissatisfaction? And, how can home improvement professionals better navigate these projects and prevent homeowner regret?
In 2021, the regret factor hit an all-time high. This means that a large percentage of homeowners who completed a kitchen renovation in the previous year wish they had sprung for a more extensive — and expensive — upgrade.
But, we wondered, how does the regret factor play out in spaces beyond the kitchen? To explore that question, Wray Ward brought these product experts and clients together:
Dave Jones, senior marketing and brand manager, Broan-NuTone (ventilation)
Justin Evans, vice president of marketing, Clopay (garage and entry doors)
Nick DeVita, senior global training manager, Sonos Professional (built-in sound)
Stephan Moyon, president, VELUX America (skylights)