Houston, Texas is a great place for any business these days. A diverse economy, growing population and favorable tax rates are just a few reasons that are contributing to the success of both small and large companies in the greater Houston area.
With that being said, there are unique traits and trends in Houston that affect your business. You need to be aware of these external factors specific to Houston in order to give your company the best chance to grow and prosper.
So whether you own an established business or are new to the area, here are five trends in Houston that you should definitely take into account in the upcoming year that will likely affect your company (whether you like it or not):
1. Shifting Demographics
Houston is now considered to be one of the most ethnically and culturally diverse cities in America. You might be thinking “that’s a wide variety of consumers, how can I appeal to different groups?” It’s important to note that Houston is one of the least integrated cities in the States, according to several sources. So if you expect to capture customers from the Hispanic demographic, for example, do your homework and make sure you have brand visibility where it reaches that specific audience. Demographic factors in Houston aren’t just limited to ethnicity, but to age as well. Houston is quickly becoming a “Millennial Magnet”, due to it’s well paying job market and reasonable cost of living. Houston is now among the top 10 cities in America with the fastest-growing Millennial population (ages 18-34), with a 25% increase in Millennials from 2000-2013. Some of the key areas for businesses seeking to tap into the Millennial market are mobile technology, social media and an individualized marketing approach. The Millennial explosion is is expected to continue and you should consider how to use this fact to benefit your business.
2. Changes in Weather
The climate in Houston can be classified as “humid subtropical,” making the weather very unpredictable at times. This can make planning for seasonal trends in Houston particularly challenging. Businesses need to be aware that Houston is prone to severe, potentially disastrous weather that includes tornadoes, tropical storms and even hurricanes. Hurricane season usually begins around the first of June and can last for months. Hurricane Ike had a lingering negative effect on the Houston-area economy after it hit in September, 2008. A particularly rainy season adversely affected outdoor-related businesses this spring. Having a contingency plans for adverse weather is recommended.
3. Football Season
The state of Texas is synonymous with football, and the city of Houston is no exception. Houston is home to the National Football League’s Houston Texans. The Texans attracted the 10th most fans in attendance for 2015, despite below average team performance. In addition, local fans avidly follow their college teams, including the University of Texas at Austin, Texas A&M, University of Houston, Baylor, Texas Christian, Rice and many more throughout the region. And Friday nights are traditionally high school football’s domain in the state. Over 54,000 fans attended the 2014 Texas 6A Championship, more than most of the college football bowls attracted during the same period.
Football season in Houston provides a great opportunity for businesses in terms of marketing. Some of the ways that businesses can leverage football season to their advantage are embracing a football theme for your space, offering Game Day discounts and engaging with fans that might be potential customers on social media.
4. The Local Livestock Show & Rodeo
You might not realize it, but rodeo season is one of the major trends in Houston that affect your business. The Houston Livestock and Rodeo Show is the largest rodeo in America. In 2010, the most recent for which the numbers are available, the HLS&R added approximately $320 million in economic output and $475 million in net sales for local businesses. It also generated the equivalent of 7,000 full time jobs during the three week period, making it an event that businesses in Houston shouldn’t ignore. Plan ahead and think of potential ways to use Houstonian’s rodeo experience to best benefit your business. Building a relationship with HLS&R, or smaller, more strategically located events and festivals around the area, could be a boon to your business.
5. The Super Bowl and NCAA Championships
Houston has become an epicenter for major professional and college sporting events. The city is set to host the NCAA men’s basketball championship in April of 2016, along with the NFL Super Bowl in February of 2017. In fact, Verizon has spent upwards of $173 million on a new and improved cell phone infrastructure in anticipation of the increased tourism these events are expected to bring. City officials and major corporations are extremely eager to showcase Houston during these events. What better time for local businesses to take advantage of the increased foot traffic and visibility? Major sporting events like these are expected to be one of the increasing trends in Houston, so make sure to have special marketing campaigns and promotions during these events to maximize your sales and brand exposure.
So there you have it, some of the major trends in Houston that will affect your business both in the near and longer term. By being aware of Houston’s shifting demographics, seasonal climate trends and major local events, you’ll know how best to position your business for success in one of the most beautiful, dynamic cities in the US.