To grow sales in a flat market, you must first figure out your brand equity and how you can help it reach its full potential. Here are a few ways to increase brand share within the home improvement market.
Market reports point toward a paint and coatings industry that is returning to its pre-pandemic levels of stability and even projected to experience considerable growth over the next few years.
In general, the home improvement industry has grown significantly over the past couple of years. However, the numbers tell a much more nuanced story regarding the growth, scale of competition and emerging trends within the market.
As new freestanding distribution centers are established to support warehousing for bulk orders placed by contractors, home improvement retailers will face new opportunities to cater to the needs of these entirely different buyers.
Perhaps the most noticeable change is in the expectations for next 12 months of revenue, where we have a drop from Q4-21 to Q1-22 across all categories. This trends where contractors are seeing decreased average revenues per project has been occurring for several years.
About a third of home remodeling projects in 2021 involved installing energy efficient appliances. Indoor air quality monitoring systems and water filtration systems were also among the most common products incorporated into renovations. Top of mind among homeowners for future projects are the following:
Download informative reports to keep a pulse on how your target DIYer, Contractor, Builder, and Architectural customers' purchase behaviors are changing.
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