Table of Contents
Executive Summary
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- Top takeaways
- Market overview
- Impact of COVID-19 on the home improvement market
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- Figure 1: Short, medium and longer term impact of COVID-19 on the home improvement market, September 2020
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- Figure 2: Impact of COVID-19 on home improvement plans, 18-44s vs 45+s, September 2020
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- Figure 3: Change in spending priority for home improvement projects as a result of COVID-19, September 2020
- Opportunities and Challenges
- Young adults’ failure to launch is both an obstacle and an opportunity
- Sustainable products and projects will gain traction
- Convenience will encourage greater category participation
The Market – Key Takeaways
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- COVID-19 shifts home buying trends
- Economic slowdown will cause home project disruptions
- For others, savings have grown as a result of the pandemic
- Younger Canadians are slower to leave the nest
Impact of COVID-19
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- Figure 4: Short, medium and longer term impact of COVID-19 on the home improvement market, September 2020
- Lockdown
- Re-emergence
- Recovery
- COVID-19: Canadian context
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Market Factors
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- COVID-19 shifts home buying trends
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- Figure 5: Home Depot Canada Instagram post, October 2020
- Economic slowdown will cause home project disruptions
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- Figure 6: mrsashleyfrench Instagram post, October 2020
- Figure 7: Home improvement/maintenance projects completed in the past three years or planned for next year, by household income, September 2020
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- Figure 8: Home improvement projects completed in the past year motivated by extra money, by household income, September 2020
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- Figure 9: Home improvement projects completed in the past year motivated by extra money, by age, September 2020
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- Figure 10: Dulux UK Instagram post, December 2020
- For others, savings have grown as a result of the pandemic
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- Figure 11: ‘I have more money to spend on home improvements due to cancelled expenses’, by household income, September 2020
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- Figure 12: Sherwin Williams Instagram post, September 2020
- Younger Canadians are slower to leave the nest
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- Figure 13: Young adults (aged 20-34) living with parents, 2001-2016
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- Figure 14: Focal Point Products Instagram post, March 2020
- Smart tech offers a multitude of ‘saving’ options
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- Figure 15: Smart technology installation project completed in the past three years or planned for next year, by age, September 2020
- Energy and cost savings will strike a chord with shoppers
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- Figure 16: Google Nest Instagram post, October 2020
- Time and effort savings will also resonate
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- Figure 17: August Home Inc Instagram post, October 2020
- A focus on sustainability may shift project specifications
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- Figure 18: Vintage Old Loved Instagram post, November 2020
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- Figure 19: Home projects as personal reflections (% any agree), September 2020
Market Opportunities
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- Contests and common projects can foster creativity and community
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- Figure 20: This Old House Instagram post, August 2020
- Figure 21: Join My Patio Makeover Challenge! - Thrift Diving, July 2016
- Temporary style solutions offer quick and affordable alternatives
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- Figure 22: Home Hardware Instagram post, October 2020
- Figure 23: 5 RENTER FRIENDLY PEEL & STICK PRODUCTS | REMOVABLE UPGRADES, July 2020
- Building homes and communities
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- Figure 24: Canadian Tire Instagram post, October 2020
- Figure 25: How to Build a Crane with @Thrift Diving | The Home Depot Kids Workshops, September 2020
Companies and Brands – Key Takeaways
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- Retailers are increasing their convenience offers
- Attainable project examples can serve as realistic motivators
Competitive Strategies
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- Retailers are increasing their convenience offers
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- Figure 26: Behr Paint Instagram post, November 2019
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- Figure 27: Premier Ready to Roll Paint in a Bag | We Do New, July 2020
- Figure 28: Home Depot Instagram post, December 2020
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- Figure 29: Interest in digital visualization tools, by age, September 2020
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- Figure 30: How to Choose the Perfect Paint Color | The Home Depot ProjectColor™ App, October 2019
- Attainable project examples can serve as realistic motivators
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- Figure 31: HGTV Canada Instagram post, November 2020
The Consumer – Key Takeaways
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- Canadians are completing a variety of home projects
- Canadians are up for the challenge of doing it themselves
- Both practical and discretionary reasons serve as home project motivators
- Canadians are eager to learn
- The pandemic has impacted home improvement plans
Home Improvement Projects
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- Canadians are completing a variety of home projects
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- Figure 32: Home improvement/maintenance projects completed in the past three years or planned for next year, September 2020
- Handyman stereotypes no longer apply
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- Figure 33: Home improvement/maintenance projects completed in the past three years or planned for next year, by gender, September 2020
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- Figure 34: Tamara Day Instagram post, August 2020
- Figure 35: Detroit Design Instagram post, November 2020
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- Figure 36: Renovation: A Family Affair | Rehab Addict, December 2017
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- Figure 37: Installing a #Jerdon Wall Mount Mirror: By Lori Young of the Weekend Handy Woman, May 2015
- Seniors are less likely to participate in home improvement category
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- Figure 38: Home improvement/maintenance projects completed in the past three years or planned for next year, 18-44s vs 45+s, September 2020
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- Figure 39: Home maintenance completed in the past three years or planned for next year, by age, September 2020
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- Figure 40: Home improvement/maintenance projects completed in the past three years or planned for next year, by home ownership status, September 2020
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- Figure 41: Maintenance and repair expenditures in housing (x 1,000,000), in Canadian dollars, 2015-19
- Figure 42: Home project completed in the past three years for any maintenance reason (net), by home ownership status, September 2020
Method of Completing Home Projects
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- Canadians are up for the challenge of doing it themselves
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- Figure 43: Approach taken for home improvement projects completed in the past three years, by project type, September 2020
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- Figure 44: DIY Copper Pipe Side Table, September 2016
- Figure 45: Approach taken for home improvement projects planned for the next year, by project type, September 2020
Motivations for Improving the Home
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- Both practical and discretionary reasons serve as home project motivators
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- Figure 46: Motivations for recent home improvement project, September 2020
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- Figure 47: Motivations for recent home improvement project (nets), by age, September 2020
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- Figure 48: Most recent home improvement project motivated by desire to refresh décor, by age and gender, September 2020
- Real estate values also serve as home improvement project motivators
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- Figure 49: Real estate motivations for recent home improvement project, by age, September 2020
- The presence of young children can motivate home updates
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- Figure 50: Most recent home improvement motivated by a change in living situation, by age of children in household, September 2020
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- Figure 51: The Paint Brush Cover - Beyond The Tank, January 2016
Sources of Project Inspiration
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- Canadians are eager to learn
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- Figure 52: Helpful sources of inspiration for home improvement projects, September 2020
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- Figure 53: Helpful sources of inspiration for home improvement projects, 18-44 vs 45+s, September 2020
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- Figure 54: DIY Dream Closet Makeover | Q & A, November 2020
- Figure 55: Comfort with DIY projects (% agree), September 2020
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- Figure 56: Those who find how-to videos online helpful for home improvement projects, Asians vs overall, September 2020
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- Figure 57: Those who find how-to videos online helpful for home improvement projects, by region, September 2020
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- Figure 58: Those who find how-to videos online helpful for home improvement projects, by number of DIY projects completed, September 2020
Appendix – Data Sources and Abbreviations
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- Data sources
- Consumer survey data
- Abbreviations and terms
- Abbreviations
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