Home Improvement - US - February 2011
In the context of a still weak housing market and a slow recovery, the $10.5 billion DIY home improvement market has seen inflation-adjusted sales fall 21.2% since 2005. However, the need for on-going maintenance and repair, consumer interest in resource-saving products and pent-up demand are among the factors driving growth in 2010 and likely to help propel the market in 2011.
This report analyzes the home improvement market at this key moment of transition out of the recession and identifies which consumer groups and product areas will be most important for growth over the next five to 10 years. It offers up-to-date research to give insight into how best to target key demographic groups and reach out to consumers.
In addition to analyzing sales growth and key trends in major segments (paint/wall-covering, flooring, plumbing and “other” supplies and materials), this report offers insights into the activities of major players in the market. It probes branding and marketing strategies, highlighting the use of both traditional and new social media. It showcases innovative products and approaches in major segments and among key retailers. It examines “green” trends and products, analyzing these in the context of consumer attitudes, purchasing activity and future plans.
Consumer research is analyzed by major demographic groups and probes areas including:
- Which consumer groups are most likely to have undertaken home improvement?
- What type of remodeling projects have been undertaken recently or are planned for the year ahead? How does this compare with findings of the past five years?
- Which groups are most likely to take on interior painting, exterior painting or staining projects? Which are most likely to own or rent workshop equipment?
- How much on average did different consumer groups spend on home improvement in the past year?
- What are the main barriers to undertaking home improvement activity? What role does a lack of money, skill or tools play in limiting work among different demographic groups?
- Which activities—ranging from changing a light bulb to building a deck—are different consumer groups most likely to do by themselves? For which do they seek help from a spouse, friend or family member and for which do they hire help?
- To what extent do consumers take on basic resource-saving activities (recycling, using energy-efficient bulbs, etc.)? To what extent do they plan to invest in costlier “green” products (energy efficient windows, improved insulation, solar panels)?
- How do consumers rate different types of home improvement stores in terms of selection and staff availability, knowledge or friendliness?
- What are the most widely used brands of interior paint, exterior paint and stains? Of tools and workshop equipment? How does brand usage vary with key demographics?
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