17 Million Movers Spending $102 Billion, Says Movecentral.com's Exclusive Survey.Business/Technology Editors BOSTON--(BUSINESS WIRE) April 10, 2000 Spending Patterns Uncovered Uncovered may refer to:
Retailers Approach 2000 Moving Season movecentral.com, the Internet's leading provider of move-related services for consumers and marketing solutions for companies that market to movers, has released results of its annual mover mover /mov·er/ (moo´ver) that which produces motion. prime mover a muscle that acts directly to bring about a desired movement. spending survey just in time for 2000's move season. "Our survey of 22,000 movers highlights compelling spending patterns, complementing the recently released moving statistics from the US Census Bureau Noun 1. Census Bureau - the bureau of the Commerce Department responsible for taking the census; provides demographic information and analyses about the population of the United States Bureau of the Census ," says Rick Libby, President of MoveCentral, Inc. "The survey reveals that the vast mover market spends significantly on move-related items during the 90-day `hot period' surrounding sur·round tr.v. sur·round·ed, sur·round·ing, sur·rounds 1. To extend on all sides of simultaneously; encircle. 2. To enclose or confine on all sides so as to bar escape or outside communication. n. a move. The three key months before, during and after a move represent a wealth of major marketing opportunity." During 1998 and 1999, 17 million Americans (about 16 percent of the population) moved, spending $20 million on move-related goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. before, during, and after the move. Homeowners spent an average of $9,400 on purchases; renters spent $3,700. All movers spent their money on similar goods and services and made their purchases at about the same time during the 90-day before, during and after move cycle. Clearly, a major market exists for retailers, e-tailers and move-related service providers who can tap this population's needs. Movers spent significantly on appliances, with the timing and amount spent differing for owners and renters. Owners spent an average of $1,875 and made their purchases up to one month before and two weeks after the move. Renters spent an average of $765 and made purchases after the move, once they had taken an inventory of their new residence. 72% of homebuyers and 85% of renters purchased a computer within 30 days of moving. The same number also purchased a car during that time. Similarly, both owners and renters bought furniture within a month before moving until 21 days after they reached their new home: owners spent an average of $3,500 and renters spent $1,220. The majority of owners and renters (72% and 70% respectively) bought beds and bedding after they moved into their residences, spending an average of $420 for owners and $240 for renters. The movecentral.com survey also delved into movers' online shopping habits. 32% researched moving companies, 23% researched real estate sites, 18% researched appliances/furnishings and 6% researched electronics, computers and banking services. Out of those movers making online purchases, they spent $600 on average. However, only 6% of respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. indicated making online purchases, a low number that can be attributed to the continued popularity of online shopping. Founded in 1992, Boston-based movecentral.com provides Fortune 1000 companies with customer retention, acquisition and revenue enhancement revenue enhancement An increase in revenues, especially by way of increased taxes. Revenue enhancement includes reducing taxpayer deductions and eliminating tax credits. programs that tap the market of 17 million moving Americans worth $102 billion-plus annually. Ranked on the Inc. 500 list two years in a row, movecentral.com maintains strategic partnerships with HomeAdvisor.com, iOwn.com, HomeGain.com, Hardware.com, Switchboard.com, Owners.com, AllConnect.com, E-Stamp (1) (Electronic-STAMP) One of several terms used to refer to the U.S. Postal Service's IBIP program. See PC Postage. (2) (E-Stamp Corporation) In 1999, E-Stamp was the first PC Postage service approved by the U.S. .com and iPrint iPrint is a technology originally developed by Novell. It allows users to install printers from a web browser and submit print jobs over the Internet through the standard Internet Printing Protocol (IPP). .com, among others. The company is a member of The Cross Country Group. |
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