Fewer new movers are available for targeting goods and services. The number of new movers declined 20% in November 2008, compared to the same month in 2007, according data tracked by Epsilon.
Its latest research findings indicate that approximately 14 million households relocated during 2008, down from roughly 18 million the previous year. Epsilon notes the number of new movers was not as low as it was in January 2008.
Look for this consumer trend reflected in counts for change of address list selections and new mover files available in the list rental market.
New movers are highly desirable for targeting offers. A typical new mover spends on average $7,300 on purchases during the first three months after relocating.
An average new mover spends 52% more than a non-mover, particularly in the home décor and furnishings category. Even one year later according to Epsilon, a new mover can still be expected to spend 16% more money.
Other findings released suggest that more families have been relocating to apartments, because the pace of home sales has declined faster than the number of new movers.
However, recent slight increases in home sales may indicate this trend is reversing, says Donald P. Hinman, senior vice president of product and data performance at Epsilon.
New movers are generally younger and more likely to be single than non-movers. However, based on spending decision-making power, an ideal new mover customer is a married woman, 45, who has a $69,000 household income.
Epsilon monitors household relocation trends in its Target New Movers database. It analyzes move frequency and merchandise purchase behavior data in conjunction with home sales data from the National Association of Home Builders and sales of existing homes for the National Association of Realtors.