2023
9
US Improving the Home Consumer Report 2023
2024-01-02T16:02:24+00:00
REP5F2BAF1F_A165_4A09_A821_BECA23403B7C
4995
169278
[{"name":"Consumer Insights","url":"https:\/\/store.mintel.com\/industries\/consumer-insights"},{"name":"Household","url":"https:\/\/store.mintel.com\/industries\/household-home"}]
Report
en_GB
As consumers become more frugal, home improvement stakeholders need to better demonstrate the return on investment. Jamie Rosenberg, Associate Director, Global Household and Personal Care…
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  6. US Improving the Home Consumer Report 2023

US Improving the Home Consumer Report 2023

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This report takes a deep dive into the consumer trends impacting the US home improvement market. With Mintel’s consumer data, our analyst reveals opportunities and guidance to respond, enabling your brand to grow. Below, we provide the key topics covered and offer hand-selected findings from the report itself.

Key Topics Covered

  • Home improvement market performance and drivers.
  • Competitive strategies and market opportunities.
  • How inflation is impacting consumer behavior.
  • Drivers of and barriers to DIY home improvement work.
  • Types of DIY projects undertaken by consumers.

US Home Improvement Market Overview

The cost of living crisis has caused many consumers to delay home improvement projects in the hopes that prices will decrease in the future. With a slow housing market, brands need to be prepared for cautious consumers. Retailers can offer discounts on products that provide a good return on investment, such as energy-efficient materials, to keep consumers engaged.

The Home Improvement Consumer Explored

Overall home improvement consumer participation

Compared to last year, there is little change in home improvement participation, but there has been a slight increase in occasional participants and a decrease in non-participants. The sluggish real estate market may be a factor, as more homeowners are choosing to stay in their current homes and renovate instead of selling.

Single homeowners present an opportunity

Single consumers, particularly single women, are increasingly participating in home improvement projects. Brands have an opportunity to support these consumers by providing knowledge and confidence, driving loyalty and helping them understand which projects can be done alone and which require professional help.

Younger consumers really enjoy home improvement

Younger consumers (age 18-34) over-index for home improvement enjoyment. Most likely to be new homeowners, they’re finding that it allows them to express their creativity by personalizing their space. Brands that promote home improvement as a creative process will grow engagement among young consumers.

Find a complete breakdown of data-backed opportunities in the full report. You may also be interested to browse our other household and home market research.

Additional Features Included in Your Report

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Expert Analysis

Leading household analyst Jamie Rosenberg delivers expert industry insights with this in-depth report.

As consumers become more frugal, home improvement stakeholders need to better demonstrate the return on investment.

Jamie Rosenberg, associate director of household research

 

Jamie Rosenberg
Associate Director, Global Household and Personal Care

Collapse All
    • Key issues covered in this Report
  1. Executive Summary

  2. The market

    • Market context
    • Market drivers
    • Graph 1: consumers who are postponing home improvement projects due to the rising cost of inflation, 2023
  3. Competitive Strategies and market opportunities

    • Graph 2: home improvement participation, enjoyment and skill, by race, 2023
    • Graph 3: consumers who renovate to enable aging in place, by age, 2023
  4. Consumer Insights

    • Consumer fast facts
    • Graph 4: home improvement participation, 2022 vs 2023
    • Graph 5: consumers who engage in frequent home improvement (at least one a year), 2022 vs 2023
    • Graph 6: consumers who love or like home improvement, by age and gender, 2023
    • Graph 7: home skill level, by gender, 2023
    • Graph 8: types of DIY projects undertaken, 2023
    • Graph 9: consumers who undertake projects for multifunctionality, 2023
    • Graph 10: projects for which consumers hire professionals, 2023
    • Graph 11: use of professionals for any home improvement project or repair, 2023
    • Graph 12: reasons for undertaking DIY home improvement, 2023
    • Graph 13: consumers who renovate to protect against natural disasters, by region, 2023
    • Graph 14: tasks undertaken before starting DIY home improvement/maintenance projects, 2023
    • Graph 15: attitudes toward home improvement, 2023
    • Graph 16: consumers who learned DIY skills from a parent or family member, by age, 2023
    • Graph 17: cost-related home improvement behaviors, 2023
    • Graph 18: consumers who use second hand markets for home improvement supplies, by age, 2023
  5. Appendix

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Please Note: All of the figures, graphs, and tables in this sample report have been redacted.
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