Home ownership empowers multicultural consumers in home improvement. Housing market flux shapes their priorities and DIY prevails despite the allure of hired help.
This report focuses on Multicultural consumers’ engagement with home improvement. Providing a market review and an in-depth analysis of this important consumer group, you can accelerate your home improvement business insights strategy with the findings of this report.
Americans are deeply invested in improving their homes despite rising housing costs, with about one third of household spending allocated to housing. Residence ownership status significantly influences consumers’ engagement with home improvement, as nearly nine in 10 owners have undertaken home improvement projects over the past two years (vs seven in 10 renters).
Despite economic challenges, multicultural homeowners, particularly Hispanic and Black consumers, show higher-than-average ambition for investing in home improvements. Family and friends play a crucial role in this process, offering valuable advice and support based on personal experiences.
Home Depot and Amazon are essential sources for consumers who have made any home improvements in the past two years; looking forward, smart home tech and upgrading outdoor living spaces lead for trends, which shows that traditional home improvement retailers will face increasing competition.
Understanding multicultural consumers’ living situations, household dynamics, approach to DIY and design preferences is vital for effectively catering to their diverse needs in home improvement.
Buy your copy of this report today and gain new insights for your home improvement brand.
Consumer expert Courtney Rominiyi delivers pivotal insights with this report.
Home ownership empowers multicultural consumers in home improvement. Housing market flux shapes their priorities and DIY prevails despite the allure of hired help.
Courtney Rominiyi
Multicultural Consumer Insights Analyst
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