Rochele Painting has been in business 45 years this year.…
by Samuel Festa • 2 min read
Rochele Painting has been in business 45 years this year. During that time we have seen numerous trends in consumer spending. Often around end of financial year our sales spike as businesses and investors attempt to spend some money. Then around Christmas time we see home owners demanding painting so they can spruce up the home prior to Christmas parties and relatives visiting.
However a less intuitive trend is the one we see in uncertain times such as September 11 , the GFC and now the Coronavirus. In times of uncertainty the home services such as painting often get a real boost as customers direct their spending away from travel and consumer goods and more towards investing in their largest asset which is typically their home or unit.
Painting, decorating or improving ones house becomes a purchase of security and safety. The money isn’t leaving the bank account, spent on an experience that will never been seen again. Money spent on the home is just stored in bricks and mortar to be enjoyed by you and your family every day until it is recouped at the time of sale or when the home is revalued by the bank.
In uncertain times people typically feel safe in their homes and around their family. Painting has a huge impact on its recipients which are the home dwellers. Lighter brighter colours can alter your mood and attitude. Strong, bold colours can create a space regardless of walls (read more on choosing the right colours to make your home a happier place in this colour psychology article). Once you paint the interior or exterior of your home you achieve a sense of renewal and a sense of security (Also read more on how colour can affect your mood article)
The one thing that is certain about uncertain times is that they never last forever in fact they never last long at all. That said people always seem to find a way to redirect their money in ways that help them mentally overcome the uncertainty they experience.