Hardware Retailing The Industry's Source for Insights and Information
Buying a new home requires purchasing various items to outfit the new space, including appliances, furniture, decor items, renovation tools and other home accessories.
According to recent data from the National Association of Home Builders’ Consumer Expenditure Survey, buyers of newly built homes spend an average of $26,882 on appliances, furnishings and remodeling and repairs during the first year after purchasing a home, nearly three times the $9,457 spent by non-moving homeowners. Buyers of existing homes spend an average of $18,673 during the first year after purchasing a home, around twice the amount spent by non-moving homeowners.
See where different types of homeowners are spending these dollars and discover where your store can capitalize on this consumer behavior.
