A Banner Year for Indian Home Renovation Professionals, Houzz Study Finds
New Delhi, June, 2018 – Houzz Inc, the world’s leading platform for home remodeling and design, today released the 2018 Houzz India State of the Industry. The report provides an overview of 2017 performance and an outlook on 2018 for residential renovation and design businesses based on data reported by nearly 200 professionals in the Houzz India community. The study revealed that 2017 was a strong year for the majority of firms across the industry, with nearly half having met or exceeded gross revenue expectations for the year (47 percent).
Three in five businesses also reported an increase in gross revenue in 2017 relative to 2016 (61 percent), with nearly half of those reporting that revenues increased by more than 10 percent (48 percent). Design-build firms were most likely to have seen revenue gains relative to 2016 (72 percent), followed by interior designers and architects (61 and 56 percent, respectively).
Increases in revenue were not without challenges. Nearly two in five businesses reported difficulty finding customers and increased competition (38 and 24 percent, respectively). While managing customer concern over cost continues to be a challenge (37 percent), the report shows a six percent point decrease from the previous year (43 percent). Managing customer concerns over cost was felt most significantly by design build firms and interior designers (48 and 42 percent, respectively), while architects were most concerned with finding prospective customers (42 percent).