Tag: home improvement

Online Shopping Making Significant Gains in Home Improvement Industry

As the home improvement industry continues to recover, specialty retailers (such as storage and organization) are making significant gains. Online shopping has also seen significant growth, with dollar sales up 15% over 2009. Online now represents five percent of all home improvement sales, but is even more important in the specialty channel, representing 20% of those sales, with kitchen and bath specialty stores leading the way in the 12 months ending September 2011.

Some Home Improvement Categories Showing Growth; Ecommerce is Increasingly Important

Despite the uncertain economy, there is hope for growth in the home improvement industry in the near future, according to new research by The NPD Group. There is subtle growth emerging in some categories, including lighting and electrical, fans, hand tools, and lawn and garden products. And ecommerce is becoming increasingly important; Online sales of home improvement products have grown 16% in the 12 months ending August 2011 according to NPD.

Landscaping is Top Home Improvement Activity

Almost 50 million home owners (29%) are taking on landscaping projects, according to the latest report from consumer and media research firm Scarborough Research. Landscaping — at 29% — is the top home improvement activity measured by Scarborough, followed by interior painting/wallpaper (28%) and carpeting/floor covering (14%). More expensive home improvement projects, such as kitchen remodeling or window replacement, rank toward the bottom half of the list of popular home improvement activities.

Home Improvement Industry to Rebound due to Pent-up Demand, Need for Repairs

The arrival of spring usually signals the start of spring cleaning and the undertaking of do-it-yourself (DIY) home improvement projects. During the recession, many consumers chose to make minor improvements to their homes instead of pursuing large and costly renovation projects. However, as the economy improves and retail sales rise, Mintel forecasts growth to accelerate in 2011 and, presuming a stabilization of the housing market, to remain positive through 2015. According to Bill Patterson, senior analyst at Mintel, “pent-up demand, ongoing need for repair and maintenance, retro-fitting, and renovations from Boomers approaching retirement and demand from Millennials should all propel DIY spending.”

Home Improvement Market Starting to Show Signs of Recovery

According to home improvement industry analysis by leading market research company, The NPD Group, Inc., home improvement market categories saw an overall dollar increase of four percent in the 12 months ending June 2010, compared to the same time last year.

Home Improvement Market Starting to Show Signs of Recovery

According to home improvement industry analysis by leading market research company, The NPD Group, Inc., home improvement market categories saw an overall dollar increase of four percent in the 12 months ending June 2010, compared to the same time last year.

Consumers Ready to Spend on Home Improvement, Spending Average of $6,200

Consumers are more than willing to fix up their homes, and they're prepared to spend, on average, $6,200 on improvements, according to a recent survey conducted by American Express. According to the survey, 62% of respondents plan to embark on some kind of renovation project in 2010. The majority (53%) involve indoor remodeling, with cosmetic work (36%), redoing a room (25%), and installing a new floor (14%) topping the list. Young professional (86%) and affluent (72%) homeowners will embark on these projects more so in 2010 than the general population of homeowners.

Reaching Next Generation of Home Improvement Consumers Is New Challenge for Retailers

The NPD Group recently released results from a new report "Beyond the Boomers," which takes a look at the perceptions and behaviors of Baby Boomers, Gen‑X, and Gen‑Y as they relate to the home improvement marketplace. The new study found that there are some similarities between these groups when it comes to making home improvement purchases, but there are also differences retailers and manufacturers should be watching. "Baby Boomers and Gen‑X each currently represent just over 30% of the population, and Gen‑Y accounts for 15%, but there is an ‘opportunity gap’ that plays a role here as well,” said Mark Delaney, director of NPD’s home improvement and major appliance divisions. “Given that, developing a variety of marketing messages and strategies becomes more important so that retailers and manufacturers can narrow that gap and find the opportunities."

Consumers to Increase Spending on Home Improvement Products/Services

The home improvement market is showing promising signs of life. The latest American Express Spending & Saving Tracker survey indicates that homeowners plan to tackle projects ranging from new flooring to redoing a room this year. But don’t expect consumers to spend like they did previously. Instead, “consumers are following through on their previously stated intentions to exercise more financial discipline in 2010 as it relates to home improvement.”

Smaller DIY Projects May Lead to New Marketing

Whether homeowners are nervous about over-improving their properties or just continuing to feel the economic pinch, the days of the mega-home improvement projects may be behind us for a while. Three or four years ago, kitchen and bathroom makeovers fueled the home improvement industry and many consumers spent thousands of dollars turning their backyards in outdoor living spaces.

Boosting Sales of Energy-Efficient Products

With all the talk about the federal government's efforts to revive the economy using business bailouts, it might be easy to overlook a key form of consumer bailouts.

Spring is Home Improvement Season

Spring is traditionally a time for homeowners to assess which indoor and outdoor repair and maintenance projects they'll be undertaking during the warm weather months but this year's economy may change the nature of home improvement spending.

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