The Home Improvement Research Institute Generational Differences in Home Improvement Activity Study revealed insightful information on how homeowners of different generations approach home improvement and the preferences, influences and behaviors among homeowners in different generational groups.
The study identifies effective marketing strategies to engage different generations, analyzes how they allocate their budgets and examines preferences and behaviors across generations. While all generations use both online and in-person methods for home improvement research, millennials rely more on online resources.
Information Sources for Home Improvement Projects
During Research and Planning
Search Engine (Google, Bing, etc.):
- Millennial/Gen Z: 49%
- Gen X: 48%
- Boomers/Silent: 41%
Visiting Local Home Improvement Stores:
- Millennial/Gen Z: 38%
- Gen X: 45%
- Boomers/Silent: 46%
Recommendations from Friends and Families
- Millennial/Gen Z: 33%
- Gen X: 35%
- Boomers/Silent: 37%
Home Improvement Supplier and Retailer Websites
- Millennial/Gen Z: 30%
- Gen X: 29%
- Boomers/Silent: 30%
Top Macroeconomic Concerns Among US Homeowners
Average Number Across Three Different Generations
- 57%: The Economy
- 55%: Inflation
- 40%: Personal Finances
Percentage Planning to Increase Home Improvement Spending
Over the Next 12 Months
- Millennial/Gen Z: 49%
- Gen X: 37%
- Boomers/Silent: 27%