Over the last 12 months, rising inflation and cost-of-living pressures have not only reshaped consumer behaviour but also forced businesses to rethink their internal operations. I’ve observed how these economic challenges have required us to adapt—from adjusting product offerings to refining service offerings to maintain operational efficiency.
These shifts are driving a new wave of innovation within the home services sector, revealing unexpected opportunities for growth despite the hurdles.
Repairs on the rise
One of the most prominent recent shifts was the transition away from new purchases to repairs. Rising costs have made consumers more cautious about discretionary spending, choosing to delay the replacement of big-ticket items and opting instead for repair solutions.
This trend began taking shape late last year as cost-of-living pressures mounted. Veolia Australia New Zealand reported that by the end of 2023, 80% of consumers said they would rather repair essential items—such as clothing, white goods, or laptops—than replace them.
This repair-first mindset has carried over into 2024, reflecting a broader shift across industries as consumers seek practical ways to manage expenses while maintaining their lifestyles and home health.
For Poolwerx, this shift has driven demand for repair services and preventative maintenance, helping pool owners keep their equipment functional during tough economic times. While we expect repairs to dominate over the next 6 to 12 months, a particularly hot summer may accelerate equipment failures, pushing some consumers to opt for replacements. Retailers in this space should be ready to pivot from repair-focused strategies to replacement sales as consumer confidence improves.
With economic uncertainty still lingering, we’ve also introduced more entry-level products to meet budget-conscious consumers halfway, without compromising on quality.
Technology key to operational success
Technology has played a crucial role in elevating how our Franchise Partners connect with their client base across our physical retail and service channels over the past 12 months. One of the most significant shifts we’ve observed across the industry is the growing expectation for real-time communication and transparency. Our Franchise Partners today are met with demand for more than just products or services — they’re expecting to deliver timely updates and insights that help their clients stay in control of their choices.
As this demand evolves, the ability to integrate technology into service delivery will become a critical differentiator. This is where Poolwerx sees significant growth potential: combining human expertise with digital solutions to enhance convenience and client satisfaction at every touchpoint.
We’ve invested in real-time service reports, enabling clients to receive updates directly to their devices after each maintenance visit. Additionally, our efforts to streamline communication—through tools like automated reminders and digital service notifications—are helping us create a seamless and user-friendly experience.
Looking further ahead, we’re also exploring new technologies to future-proof our business and reduce operational costs for our clients. From energy-efficient pool pumps to eco-friendly pool covers, we are committed to promoting sustainable solutions that align with the values of today’s consumers.
Home-nesting to prevail
Despite economic challenges, consumers are still investing in their homes. As Deloitte’s 2024 Retail Holiday Report highlights, 87% of Australians are staying home more and prioritising home entertainment over travel.
For Poolwerx, this trend presents an exciting opportunity. As people look to elevate their home spaces, pools become more than just functional investments—they are the centrepiece of backyard memories through the entertainment season, and beyond.
Looking ahead, the home improvement trend is likely to persist, driven by consumers’ ongoing desire to maximise the use and enjoyment of their homes. This creates sustained demand for businesses that offer convenience, reliability, and products that support lifestyle upgrades. With its retail-service hybrid model, Poolwerx is well-positioned to capture this market, combining the benefits of retail products with professional service delivery to meet evolving consumer needs.
2025 retail predictions
The coming year presents both challenges and opportunities. While cost pressures will likely persist, we are optimistic that easing interest rates and improving economic conditions will restore consumer confidence. Our focus will remain on providing clients with high-quality service, convenience, and innovative solutions—without compromising on value or pool health.
Poolwerx’ growth strategy is centred on expanding our market share – with plans for a rigorous retail expansion program in 2025 – building on our reputation as a leader in the industry, and continuously evolving to meet consumer expectations. Whether through repairs, replacements, or sustainable upgrades, we are committed to helping clients enjoy their pools year-round while navigating the realities of today’s economy.
With more stores, new service innovations, and a client-first mindset, we are excited to embrace the opportunities ahead.
Steve Halls is chief operating officer at Poolwerx.