We take a consumer first approach to create and build companies that engage the same pool of customers. We call this group the NXT Ascent Family, and our deep knowledge of this particular consumer allows us to build brilliant companies that make their lives better. And the more we service this customer, the more we learn about them, thus giving us an even deeper knowledge and expertise into their purchasing habits.
WHO IS THIS CUSTOMER, IN ORDER OF PRIORITIES:
1. They are
2. They are making
3. They are living in a
4. They have
5. The parents are between ages 27 - 55.
6. They own their home.
What’s unimportant to us is race, religion, geography or education level.
Our customer pool is vast. The total addressable market (TAM) is 35.9 million households, which is our starting point for all products we sell.
Different products will more greatly attract different segments of our TAM and may even add to our TAM. Thus, our serviceable addressable market (SAM) changes by adding or subtracting different parameters. For example:
DeliverySafe customers mostly live in single family homes, reducing non-single family homeowners from our TAM. A personal care product, however, would not require this criteria.
Every company will create its own market size, however they all will be between 4.77 – 35.9 million households, a very large number of clearly defined customers.
And our customer pool has significant discretionary income:
· 35-54 year-olds have the highest discretionary income.
· The average discretionary spend by household income level is:
o $100K-$149K: $42,079
o $150K+: $93,557
At NXT Ascent, we will continue to create products for this defined family; initially focusing on building companies within the product categories of home improvement, pet, personal care and home leisure.
It is our core belief that if we focus on the NXT Ascent Family as our customer, delivering products that make their lives better and constantly earning their trust, the opportunities to serve them are endless.