Australia’s renovation revolution doesn’t show any sign of letting up. From painting the spare bedroom to renovating the kitchen, Aussie homeowners take pride in ‘doing it themselves’.
Australia’s renovation and maintenance industries earned $54.6 billion last financial year. According to IBISWorld, this figure is forecast to top $60 billion within the next five years.
Hardware retailers are experiencing a windfall on the back of Australia’s home improvement obsession. emma data shows that 52% of consumers have bought from a hardware store in the past 4 weeks.
In terms of hardware retail, newspaper media reaches 81% of renovation & DIY shoppers.
Despite being a profitable industry with strong potential to grow, there are few players in the DIY & renovation market. According to emma data, Bunnings is the market leader by some distance. Eighty-six per cent of renovations and DIY shoppers have bought from Bunnings in the past 4 weeks. The second most used DIY store is Mitre 10, used by 21% of DIY shoppers.
Woolworths are looking to shake the market up through Masters, its big-box DIY store brand. There are currently 38 Masters outlets nationwide and there are plans to add 18 more.
The Woolworths advertising account is currently out to pitch and the Masters brand will be high priority. The winning agency will be charged with breaking Bunnings’ market dominance and making Woolies the Masters of The Hardware Universe.
The Masters brand will pose two major challenges to Woolworth’s ad agency.
The first is building awareness of the new brand. Masters has only been in existence since 2011.
The second challenge is to provide an appealing proposition to DIY & renovation shoppers to attract them in-store or online. Masters must give DIY shoppers a compelling reason to switch from Bunnings, be it price, service, range or convenience.
Newspaper media can help Masters overcome these challenges and break through. Print and digital newspaper advertising is proven to build awareness and create positive consumer perceptions of retail brands like Masters which in turn will help attract home-improvers in-store.
Newspaper Media Builds Awareness
Retail brands regularly look to newspaper media to raise brand awareness. That’s because newspapers have incredible reach. emma data shows that 15 million consumers read a print newspaper at least once a month.
Newspaper readers (AIR any newspaper) are big DIY spenders. They are 31% more likely to have spent $50 or more at hardware stores in the last 4 weeks than non-readers.
Masters can use newspaper media advertising to get their brand and their product offerings in front of an engaged and high spending audience.
Property Sections Reach Renovators
Though home improvers are staying put for now, 40% of them have read the property section of a newspaper in the past 4 weeks, that’s 4% more than general newspaper readers. Property sections provide a relevant environment, with aspirational images of homes for sale that can inspire home improvers.
Newspaper publisher digital property sites also provide strong reach for advertisers targeting DIY shoppers. One in four (25%) DIY shoppers have accessed Domain.com.au or Realestate.com.au, the two most popular digital property sites, via computer or mobile device in the past 4 weeks.
Catching the Weekend Mindset
Weekends are a key time to catch home improvers in the right mindset as that’s when they are in their home and thinking about improvements. It is also when the majority of DIY projects take place. Ads with an action orientation can trigger a trip to the hardware store.
Weekend newspapers are popular among renovation and DIY shoppers, with 69% reading one in the last four weeks. Again, that’s 4% more than newspaper readers in general.
Regional Home Improvers.
Interest in DIY is slightly stronger in regional areas compared to the five major metro areas. Fifty-five per cent of regional shoppers visited a hardware store in the last 4 weeks vs. 51% of metro shoppers. This is a positive for Masters, which currently has a regionally focus.
NT and TAS are the states most keen on DIY based on hardware store visitation (both indexing 109 vs. All People on last four week visitation), while NSW and VIC are the least keen (both index 98).
Local newspapers have strong reach among regional DIY shoppers, with 54% of this category reading a regional or community newspaper in the past 4 weeks.
Newspapers Construct Brand Perceptions
Newspaper media advertising drives brand awareness due to its strong reach. The high level of engagement offered by newspapers also make it a perfect medium for (Re)Appraisal advertising.
(Re)Appraisal ads increase salience by introducing new brands to consumers, challenging their existing notions of brands or encouraging them to consider an existing brand in a new light.
Newspaper creative is well suited to conveying information that will prompt appraisal. Readers are in an engaged mindset to take in information, and trust in newspapers helps make it credible. Newspapers are the prominent news medium, so it follows that they are the right place for news creation around brands.
Click here to see a case study of how newspaper media helped build awareness of a new entrant in the instant coffee category.
Click here to see a case study of how NRMA used newspaper media to encourage (Re)Appraisal of their brand.