Are Doors and Windows a New Status Symbol?

Christina Lewellen
October 3, 2012
THE TALK... | Markets & Trends

According to a recent Spectrum Group study highlighted in an article by CNBC, the super-, mega-, crazy-rich folks in this country have become slightly less materialistic. Where the folks with a net worth of more than $25 million used to spend money on cars and jewelry and other such status symbols, research shows they’re now spending a greater percentage of funds on life experiences and home improvement. It’s still lavish amounts of money, the article says, but it’s more about making memories on vacation and creating a living environment worth celebrating.

Now, you may not deal with $25 million+ customers day in and day out, but have you seen an uptick in high-end clients in recent years? Or if you've regularly focused on the high end, are your customers spending more on improvements to their homes? Is it possible that multi-panel doors and oversized window walls are the new bling that people want to show off to friends and neighbors? Please take a moment to vote in our poll and send me an email or post a comment.

 

Survey Results as of 10/09/2012:

 

Ultra high-end clients are:

Not spending more and there doesn't seem to be more of them.

  

 

25.42%

Not part of our target market.

  

 

22.03%

Spending more and there's more of them.

  

 

20.34%

Spending more, but we're not seeing more of them.

  

 

20.34%

Not spending more, but there does seem to be more of them.

  

 

11.86%

This week's poll left our participants fairly evenly divided. It makes sense, given that we serve such a wide variety of customers in the window and door segment. After all, triple-digit fenestration packages aren't exactly commonplace for many retailers and manufacturers. Still a solid 20 percent of poll respondents are saying that there are more luxury clients lately and they're willing to spend. So even with a small slice of the pie, this increase certainly translates to some significant revenue.

 

Contact Christina Lewellen, senior editor, at clewellen@glass.org.