Lowe's Survey Reveals Builders in Synch With Home Technology Trends
MOORESVILLE, N.C., Jan. 15 /PRNewswire-FirstCall/ -- East meets West this
past week as the Consumer Electronics Show (CES) launched the latest in
technology that is digital, mobile and personalized -- and the International
Builder Show (IBS) in Florida revealed builders' plans for Smart Homes that
will not only house but facilitate consumer demands and dreams for technology.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO )
In fact, an industry survey at IBS commissioned by Lowe's reports that
Smart Home technology is becoming a standard offering by the majority of
builders. In fact, 61 percent currently include or plan to include Smart Home
technology in the homes they build.
"Amid all the fabulous amenities seen at the show, builders were drawn in
droves to a small white box in a corner of our booth," said David Steed,
Lowe's senior vice president of merchandising. Steed went on to explain that
the white box, a Pass & Seymour/legrand(R) Home Network Center, brings
together all the electronic wiring in a house just as a circuit breaker does
for live voltage. "Repeatedly, the reaction was, 'so simple, yet so
important'" explained Steed, citing the need for easy and centralized access
to wiring especially for technology enhancements and additions.
Going Mainstream
As evidenced by the survey, 51 percent of builders at IBS who use Smart
Home technology indicated that homebuyers are asking for the technology now.
Approximately 31 percent of IBS builders think the concept will catch on in
the next few years while only 14 percent say the concept is five or more years
away.
Of the Smart Home builders, nearly 60 percent stated that wiring upgrades
are the route they have chosen to accommodate the must-have basic homeowner
need for voice, data, audio -- and set the stage for future home technology.
IBS Builders say that nearly 73 percent of homebuyers who request Smart
Home features are male while 27 percent are female.
When builders were asked what they thought was the most significant
barrier to advancing the concept further, 26.5 percent claimed there is a
homebuyer perception that it's not worth the cost and 22.7 percent claimed it
is a lack of homeowner awareness. Furthermore, 33.9 percent reported that
homeowners need to see more model homes featuring this technology.
Size and Shape of Homes in 2005
In keeping with the need and demand for technology and automation in the
home, nearly 60 percent of builders reported that the homes they will build in
2005 will comprise more square footage than what they have built previously.
* Further, respondents indicated that in the next year or two, the
must-have features include home offices (14.4 percent), home theaters
(13.9 percent) and finished basements (13 percent).
This study of IBS attendees was conducted January 13-15 by Ipsos-Public
Affairs. Over 1,000 professionals attending the trade show were interviewed
at the Lowe's booth. Results on this release are based on 781 completes with a
margin of error of +/-3.5 percentage points.
Ipsos Public Affairs, headquartered in Washington D.C., is a non-partisan,
objective, survey-based research company made up of campaign and political
polling veterans as well as seasoned research professionals.
About Lowe's
With fiscal year 2003 sales of $30.8 billion, Lowe's Companies, Inc. is a
FORTUNE 50 company that serves approximately 10 million customers a week at
more than 1,050 home improvement stores in 46 states. In 2004, FORTUNE named
Lowe's America's Most Admired Specialty Retailer for a second consecutive
year. Based in Mooresville, N.C., the 59-year old company is the
second-largest home improvement retailer in the world. For more information,
visit http://Lowes.com.
SOURCE Lowe's Companies, Inc.
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Related links:
http://www.lowes.com
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20031205/LOWLOGO
CONTACT:
Julie Yenichek of Lowe's Companies, Inc.,
+1-704-758-2282, Julie.V.Yenichek@Lowes.com; or Allison Gerber of
Golin/Harris International, +1-312-729-4237,
agerber@golinharris.com, for Lowe's Companies, Inc.
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