HIGH EXPECTATIONS FOR 2018: In most surveyed countries,* more than three in five businesses report rosy expectations for 2018. Over two in three businesses expect gross revenues to increase in 2018 across most countries (68%-95%), with the exception of Japan and Germany where expectation are somewhat lower (59% and 61%, respectively).
MARKETING TO SUPPORT 2018 GROWTH: Businesses cite a variety of strategies to support revenue growth in 2018. The most common strategy across most countries is to increase marketing (48%-64%), with going after larger projects as a close second (40%-63%). Consumer targeting is a sure way to bolster profits, expected to increase among two in five businesses (53%-90%).
STRONG 2017 FOR MOST: At least two in five of businesses across countries report increases in 2017 gross revenue (43%-72%) and at least one in three report increases in 2017 gross profits (34%-62%). At least a tenth of businesses hired more staff (12%-39%), with India and New Zealand leading in adding more employees (37-39%).
COMMON THREAD IN 2017 CHALLENGES: Businesses faced a variety of challenges in 2017. For example, difficulty finding customers was the top challenge among businesses in Europe (30%-42%), while managing cost-sensitive consumers was the top challenge in Asian-Pacific countries (24%-37%). Businesses in the U.S. and Canada cited rising business costs and cost-sensitive consumers.
*Houzz Research studies trends in the U.S.A., Canada, Australia, India, New Zealand, Japan, Denmark, France, Germany, Ireland, Italy, Russia, Spain, Sweden, and the United Kingdom. Download the Full Report
MARKETING TO SUPPORT 2018 GROWTH: Businesses cite a variety of strategies to support revenue growth in 2018. The most common strategy across most countries is to increase marketing (48%-64%), with going after larger projects as a close second (40%-63%). Consumer targeting is a sure way to bolster profits, expected to increase among two in five businesses (53%-90%).
STRONG 2017 FOR MOST: At least two in five of businesses across countries report increases in 2017 gross revenue (43%-72%) and at least one in three report increases in 2017 gross profits (34%-62%). At least a tenth of businesses hired more staff (12%-39%), with India and New Zealand leading in adding more employees (37-39%).
COMMON THREAD IN 2017 CHALLENGES: Businesses faced a variety of challenges in 2017. For example, difficulty finding customers was the top challenge among businesses in Europe (30%-42%), while managing cost-sensitive consumers was the top challenge in Asian-Pacific countries (24%-37%). Businesses in the U.S. and Canada cited rising business costs and cost-sensitive consumers.
*Houzz Research studies trends in the U.S.A., Canada, Australia, India, New Zealand, Japan, Denmark, France, Germany, Ireland, Italy, Russia, Spain, Sweden, and the United Kingdom.
Download the Full Report