Lakes has launched a new marketing strategy and rebranded to better target the “fast-growing” over-55 home improvement segment.
The shower screen and door manufacturer will move its focus away from shower enclosures to spotlight the spaces that make showering possible.
The Gloucestershire firm has also changed its name from Lakes Bathrooms to Lakes and launched a new logo. The fresh brand and brand imagery will feature on its new brochure and sales material.
“People will notice the difference in positioning and approach when they see our new brochure. It’s very different from what it was before and stands out from other brands,” said sales and marketing director Mike Tattam.
“We think it looks stunning, but it’s not just about looks. Rather than replicating the same old images of people stepping out of the shower, we’re focusing on lifestyles and what the showering space means to each of us.
“It will be a powerful sales tool for stockists and installer customers, because homeowners’ lifestyles are changing, and Lakes is engaging with them to help them buy and our partners to grow.”
The rebrand comes after extensive research into the UK home improvement market, which found that 20 years of rising house prices had created two divergent markets: the still-appreciating and almost-mortgage-free homes of the over-55s and the under-55s JAMS – or just about managing.
“The homes of the Haves are still appreciating and, largely free of mortgages and with generally lower outgoings than younger homeowners, these homeowners are driving demand in most home improvement markets,” added Tattam.
“They’re important because they have the money and they’re willing to pay for the quality, style and design they want. They account for over 90% of the money in savings too, and while they may have less income than the under-55s they have fewer outgoings. They’re mostly unaffected by fluctuations in the economy and better protected from the potential effects of Brexit.
“Independent research indicates that collectively the Have Not’s market is flat at best, while the market for the Haves has been expanding strongly across most home improvements.”
Tattam added: “We are repositioning Lakes, so we and our customers can benefit from the fast-growing market of the Haves, while continuing to serve traditional markets.
“This includes launching the first in a series of exciting new products and developing a pipeline of unique and outstanding products to launch in 2019 and after, so our partners can grow strongly with us.”