More than one-third of homeowners who remodeled in the past year would spend more money if they could do it again — and when it comes to kitchens, regret is even more common. Yet, these same homeowners invested more time, more money and more thought into their home remodeling projects than those who were satisfied with their result.

What gives? 

That’s the crux of The Regret Factor, original research developed by Wray Ward and the Research Institute for Cooking and Kitchen Intelligence (RICKI) to delve into the science behind underspending in home improvement. It’s the first study with this level of detail and exploration regarding dissatisfaction drivers. And, it’s a great way for home improvement professionals to gain a better understanding of how to navigate their business and work with their customers — the homeowners. 

If you’re heading to Las Vegas for the 2019 Kitchen & Bath Industry Show, I hope to see you at my February 20 talk, cohosted by Kitchen & Bath Design News and RICKI. Kick off your Wednesday with a continental breakfast, plus comprehensive conclusions and valuable insights to help build your business. 

Meanwhile, check out some of these topline results specific to kitchens:

1. The kitchen is rich with untapped opportunities. Of those who made kitchen improvements in the past year, 44 percent would spend more money if they had it to do again. In fact, the regret factor is higher for the kitchen than for any other room in the house. (If you’re keeping score, the bathroom, at 32 percent, came in a distant second.)
2. Surprisingly, Regretters are highly engaged in home improvement project decisions. Regretters tend to believe that home is an important reflection of self and thus get intimately involved in the decision-making process. They’re more likely than non-Regretters to be cooking enthusiasts, have families, live in an urban area and have a higher income.
3. When shopping for kitchen products, homeowners struggle with the vast number of options. In fact, they may be over-inspired. Providing tools that help them have a better understanding of the complexity of a kitchen project and the breadth of choices may help them avoid regret (and boost your bottom line).  

Register to get valuable insights on who is underspending, on what products and why, and how you can help homeowners achieve higher satisfaction with their kitchen remodeling projects. Until then, watch this video for a quick preview of our The Regret Factor talk.