Building Business with Home Technology
The housing market boom has significantly boosted installations of home technology products, generating a wealth of opportunity for manufacturers, integrators and dealers. But retreating housing starts along with a colder economic climate have created doubt around the ongoing health and growth of the home technology market. Are the glory days gone or does opportunity remain?
The good news is recent research from the Consumer Electronics Association (CEA) demonstrates builders remain committed to home technology, even during leaner times. But make no mistake, any dealer or installer competing in today’s home tech arena must think and act more strategically to maintain sales. Nonetheless, signs are present that cut a ray of hope through any dark economic cloud drifting overhead.
For starters, the overall consumer electronics market remains robust. For example, while housing starts are expected to slip 26% in 2008, the consumer electronics market is expected to grow more than 6% to $172 billion in wholesale revenue this year. A growing CE market is a positive sign and provides an optimistic backdrop for home technology sales.