Our primary target market is homeowners. Specifically, those who need home repairs and improvements.
Based on our experience worldwide over our three decades of trading, we have insight into the typical levels of consumer adoption of home assistance policies which enables us to segment homeowners into three groups.
- Drawn to the convenience of a trusted solution for dealing with a problem in their home
- Like to budget carefully and avoid unexpected repair bills
- Have historically tended to be an older demographic often on fixed incomes, however millennials are now attaining home ownership at greater scale.
HomeServe offer: Membership & HVAC
What's changing?
This segment is evolving, reflecting wider demographic shifts in home ownership, notably as millennials come to the fore. The growth in share of home ownership by millennials has also been correlated with a slightly more affluent, digitally conversant consumer than seen historically.
- Have the knowledge, skills and motivation to carry out repair work themselves
- These homeowners may call on a third party for jobs requiring specialist skills, equipment or qualifications
HomeServe offer: HVAC & Home Experts
What's changing?
In most countries, there are fewer confident DIYers and younger homeowners are less likely to live closer to the support network provided by their family.
- Find a trade when needed – by word of mouth, paper directories and increasingly online
- Finding a high-quality trade, without hassle, is often just as important as financial considerations
- Typically appeals to a younger demographic whose instincts are to search online
HomeServe offer: HVAC & Home Experts
What's changing?
There is a significant opportunity to accelerate the shift in consumer demand online in searching for reputable tradespeople, as has already been seen for property, cars and travel.
For more market analysis, see our latest Annual Report.