How to make the most of the housing boom: a trader’s guide

The rapid recent growth of the residential property market has been hugely encouraging for the construction industry, but many are predicting that this bubble is set to burst. Schemes such as Help to Buy have encouraged a record number of people to invest in property, meaning that the construction and construction retail industries are booming. However, this growth may not prove sustainable. However, this doesn’t mean that construction industry traders can’t take advantage of the current housing boom while it lasts. EPOS software can help construction industry traders to improve existing processes and win new clients, so here’s how you can make the most of the housing boom using Integrity Trader’s builders’ merchant software.

Separate your target audience

This year the terms of the Help to Buy scheme changed, allowing a larger number of first time buyers and property investors to purchase new builds. This means that the people coming to you for supplies are likely to need them for a variety of reasons. In order to better target your promotions, you should divide your customers into those looking for the supplies to renovate, those looking to build, and those simply looking to decorate. This way, you can provide better customer service and plan your discounts in each area more wisely. Your builders’ merchant software enables you to control your stock and manage customer account information easily, so you’ll not need to take on any more work than is necessary.

Ensure you’re well stocked

Whilst there will be a lot of business around as a result of the housing boom, you still have to ensure that it is headed in your direction. You’re likely to be up against some stiff competition in the form of other construction industry traders, so if you want to retain customers and encourage brand loyalty you’ll need to make sure you do not disappoint. Running out of stock and not being able to provide a customer with what they are looking for is a quick way to ensure they do not return, so use your EPOS software to better manage and monitor your stock. Take advantage of the automatic updates that tell you when you should replenish your stock and the automatic stock orders than can ensure your stock is ordered and on its way before it runs out completely.

Offer customer discounts

Construction industry retailers often think that discounts should only be offered if stock is not selling particularly well or if business is dropping, but offering your best customers discounts on products you know they’ll love can help to increase brand loyalty and guarantee they always choose you. Customer service is key when it comes to encouraging loyalty, and you can use your electronic point-of-sale software to access customer information, including agreed customer discounts, credit limits and any special pricing you may have previously organised instantly at the till. Your software will even recommend associated products, providing you with more opportunity to upsell and make more money while simultaneously offering an attractive discount. Once your customer trusts your business and your recommendations, they are likely to start spending more money and even recommend you to others.

Although there has been much concern over the sustainability of the housing boom and many, profit can still be made by those willing to work for it. If you’d like the support of Integrity Trader EPOS software to help you make the most of the housing boom while it lasts, why not get in touch with a member of the team today?