Hardware Retailing The Industry's Source for Insights and Information
The Home Improvement Research Institute (HIRI) has revealed new insights into what’s motivating customers’ home care and maintenance spending.
The 2020 HIRI Product Purchase Track Survey is now available to HIRI members. The information sheds light on home improvement product and services purchased based on data provided every two years from homeowners across the U.S. In total, the report covers 14 separate product categories, 238 individual products and 18 types of projects purchased in 2019 and analyzed throughout 2020. Visit HIRI online now to join and receive full access to this report and many others.
Discover some topline findings from the report to steer your home improvement operation to greater sales and better customer satisfaction this year.
Lawn and landscaping services are big motivators.
Of the homeowners surveyed for the report, 58 percent report making a home improvement purchase in 2019. The top category was lawn and landscaping services, followed by pest and insect control. HVAC repair and maintenance spending was the third most common sector.
Nearly 20 percent of homeowners say they hired a lawn and landscaping professional in 2019. They spent roughly $590 on average each year, spread out over 8.9 purchases, meaning the average lawn and landscaping transaction size stands at just over $66.
Pest and insect control represents a valuable niche.
About 14 percent of homeowners made pest and insect control purchases in 2019, HIRI’s data shows. On average, total project spend was about $295 spread over three purchases, making the average transaction size about $95.
HVAC repair and maintenance continues to spur spending.
HVAC repair and maintenance was one of the most lucrative service offerings, HIRI’s data confirms. The average annual spend in this category was $812 spread over 1.4 purchases. Roughly 13.2 percent of homeowners surveyed by HIRI report hiring an HVAC repair and maintenance professional in 2019.
7 out of 10 homeowners decided to outsource these repairs to a professional, much higher than in other categories HIRI notes.
