Table of Contents
Executive Summary
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- The issues
- DIY home improvement spending back on the rise
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- Figure 1: DIY improvement expenditures ($billions), 1995-2013
- Millennials set to move into key DIY years
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- Figure 2: DIY projects undertaken in past year or planned in next, by age, July 2015
- Big-box home centers dominate DIY retail landscape
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- Figure 3: Where DIY purchases are made, July 2015
- The opportunities
- Location, low prices, one-stop shopping drive retailer selection
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- Figure 4: Reasons for selecting DIY retailer shopped most often, July 2015
- Younger DIYers especially interested in creativity, safety, efficiency
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- Figure 5: DIY home improvement attitudes, agree strongly, by age, July 2015
- Frequent DIYers derive emotional satisfaction from projects, know-how
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- Figure 6: DIY home improvement attitudes, agree strongly, by number of types of DIY projects undertaken in the past year or planned in the next, July 2015
- What it means
The Market - What you need to know
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- DIY home improvement spending back on the rise
- Discretionary projects lead increase in spending
Market Perspective
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- DIY home improvement spending back on the rise
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- Figure 7: DIY improvement expenditures ($billions), 1995-2013
- Discretionary projects lead increase in spending
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- Figure 8: Home improvement expenditures, by professional vs. DIY, 2011 and 2013
Market Factors
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- Consumer confidence holds steady
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- Figure 9: University of Michigan Index of Consumer Sentiment, 2010-15
- Home renovation trends
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- Figure 10: NAHB Remodeling Market Index (RMI), 2010-2015
- Home ownership rates continue to slip, especially among younger adults
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- Figure 11: Homeownership rate, by age of householder, 2010-2015
Key Players – What You Need to Know
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- Big-box home centers lead the pack
- Beyond big: diverse strategies for success
- The retailization of do-it-for-me
- Big boxes set to get smaller
Leading Retailers
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- Big-box home centers lead the pack
- Hardware co-ops
- Sherwin-Williams
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- Figure 12: Total sales and store counts at select leading DIY home improvement retailers (US and international), 2013-14
What’s Working?
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- Beyond big: diverse strategies for success
- Hardware stores leverage human assets
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- Figure 13: Wholesale sales of the top three hardware store co-ops, 2012-14
- Big-box home centers focus on omni-channel retailing and technology
What’s Struggling?
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- Lumber Liquidators struggles with challenges on product safety
What’s Next?
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- The retailization of do-it-for-me
- Big boxes set to get smaller
- Ace Hardware same day delivery
The Consumer – What You Need to Know
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- Interior painting the most common DIY home improvement project
- Millennials set to move into key DIY years
- Friends and family most likely to be cited as helpful in DIY projects
- Big-box home centers dominate DIY retail landscape
- Location, low prices, one-stop shopping drive retailer selection
- Planning and preparedness are key traits for more frequent DIYers
- One in five DIYers often make online purchases
- Younger DIYers especially interested in creativity, safety, efficiency
- Frequent DIYers derive emotional satisfaction from projects, know-how
Home Improvement Projects Undertaken and Planned
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- Interior painting the most common DIY home improvement project
- Plumbing, efficiency, heating and cooling more likely to call for professionals
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- Figure 14: Home improvement projects undertaken in past year or planned in next, by DIY or professional, July 2015
- Millennials set to move into key DIY years
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- Figure 15: DIY projects undertaken in past year or planned in next, by age, July 2015
Sources of DIY Information and Inspiration
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- Friends and family most likely to be cited as helpful in DIY projects
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- Figure 16: Sources of information and inspiration, July 2015
- Videos and social media especially important for younger DIYers
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- Figure 17: Select sources of information and inspiration, by age, July 2015
Where DIY Purchases are Made
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- Big-box home centers dominate DIY retail landscape
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- Figure 18: Where DIY purchases are made, July 2015
Reasons for Selecting DIY Retailer Shopped Most Often
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- Location, low prices, one-stop shopping drive retailer selection
- Hardware and specialty store shoppers value sales staff, advice
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- Figure 19: Reasons for selecting DIY retailer shopped most often, July 2015
DIY Home Improvement Behaviors
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- Planning and preparedness are key traits for more frequent DIYers
- One in five DIYers often make online purchases
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- Figure 20: DIY home improvement behaviors, by number of DIY projects undertaken in the past year or planned in the next, July 2015
DIY Home Improvement Attitudes
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- Younger DIYers especially interested in creativity, safety, efficiency
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- Figure 21: DIY home improvement attitudes, agree strongly, by age, July 2015
- Frequent DIYers derive emotional satisfaction from projects, know-how
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- Figure 22: DIY home improvement attitudes, agree strongly, by number of DIY projects undertaken in the past year or planned in the next, July 2015
Appendix – Data Sources and Abbreviations
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- Data sources
- Sales data
- Consumer survey data
- Abbreviations and terms
- Abbreviations
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