TopLine Business Acumen Series Digest: April 18, 2022 edition
This week’s most engaging stories
TopLine’s Business Acumen Series features business trends and opportunities to help sales professionals prospect and engage clients. It’s updated several times daily within TopLine. This digest features some of the week’s top stories.
Summer Travel Plans Spark Clothing Purchases
In a recent CivicScience survey, nearly half of respondents indicated they needed new clothes, and summer is approaching!
Here are three insights into summer clothing shoppers:
- The main drivers for purchasing new clothing are respondents’ desire to refresh their summer wardrobes and buy new items for upcoming trips.
- 61% plan to spend $100 or more on new summer clothes this year.
- Consumers lean toward purchasing their summer clothing online.
How can you connect retailers to summer clothing shoppers?
Latest Resources from TopLine
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In NerdWallet Survey, Many Don’t Feel Comfortable Purchasing Life Insurance
In a recent study from NerdWallet/The Harris Poll, looking at around 2,000 American Adults 18+, it was determined that 75% did not feel entirely comfortable purchasing a life insurance plan. A solid chunk of the participants, 27%, confirmed that they were worried buying life insurance could be too expensive when it came to monthly rates.
Millennials, predominately bought life insurance to create inheritance plans for loved ones. This was 51% of millennials who bought life insurance. For all ages, some of the most important factors were affordable monthly costs (53%) and ensuring that their coverage lasted their whole lives (48%). Lastly, many Americans still don’t seem to have life insurance coverage. This number amounts to around 53% who do not currently have a life insurance plan.
Do you know any agents who sell life insurance? How can they better address consumers’ concerns?
Minimal Amounts of Exercise Beneficial in Battling Depression
The CDC recommends 2.5 hours of moderate aerobic activity a week for most persons. A recent study found that consumers with at least 1.25 hours of aerobic activity a week had an 18% lower risk of depression. Consumers with 2.5 hours of aerobic activity weekly had a 25% lower risk of depression. Older studies have found that consumers who exercised had roughly 43% fewer days of poor mental health.
How are consumers in your area exercising? Are there seasonal changes to exercise routines in your market?
Tips to Make the Most of Home Remodeling Projects
According to homeadore.com, experts say there are several important things to consider when planning home renovations. Kitchen and bathroom remodeling projects increase home value the most, and experts suggest high-quality hardware, fittings, and finishes will give the most return on investment. Adding environmentally-friendly updates can potentially increase home value and decrease utility bills.
Consumers will also want to consider which of their home improvement projects should be done by a highly-rated contractor and which would be most suited to DIY. Outdoor projects could also be a great way for consumers to create more space to enjoy in their homes or increase the value of a home they plan to sell.
How can you help connect home remodeling project planners with contractors? How can you help home improvement retailers increase sales from consumers looking to do DIY projects?