Hardware Retailing The Industry's Source for Insights and Information
After a year of record sales and renewed interest in the home improvement channel, take a moment to review some of the latest industry data to better understand your DIY and pro customers. The Farnsworth Group has released new research into how COVID-19, vaccination efforts and construction and renovation activity are influencing the channel. Discover some of their key takeaways below.
DIY momentum endures.
After vaccination efforts ramped up in the U.S., some analysts predicted home improvement activity to wane. However, The Farnsworth Group and the Home Improvement Research Institute’s COVID-19 Tracker data shows DIY activity remains strong in the second quarter of the year.
In May, roughly 68 percent of DIYers have started a new project within the past month, The Farnsworth Group’s data reveals. That figure is up slightly from April and represents the highest DIY activity level seen thus far in 2021. COVID-19 is becoming less of a reason to start or delay DIY projects, The Farnsworth Group concludes.
Lawn maintenance is a top priority for DIYers.
As spring and summer arrive, data shows DIYers are increasingly focused on sprucing up their backyards. In May, lawn maintenance projects were the most frequently cited project type for DIYers, followed by painting a room and then general home maintenance.
Vaccinated millennials are ready for DIY.
More than 70 percent of vaccinated and unvaccinated millennial DIYers have started a project in the past few weeks. Accounting for all age groups, 59 percent of DIYers who received the vaccine have started a project in recent weeks, compared to 65 percent of unvaccinated DIYers who also started a project.
In-store purchases continue to be the top preference.
Shoppers prefer to make their home improvement purchases in store, the data shows. Roughly 8 out of 10 vaccinated DIYers prefer to make their purchases in brick-and-mortar stores. More than 45 percent of vaccinated DIYers prefer to purchase products online and have them delivered to their homes.
Supply shortages are hampering pros.
New data also shows building materials availability is impacting pros’ project volume. Roughly 44 percent of pros indicate product availability is a leading cause in project delays or cancellations, the highest this figure has been since The Farnsworth Group and HIRI began tracking pro sentiments regarding COVID-19 in March 2020.
