The Home Improvement Boom: Evolving Consumer Behaviors in a Post-Pandemic Era

Prepared by Yipit Data, Gold Sponsor at HIRI's 2023 Home Improvement Insights Summit. Join us this September 27 and 28 in Chicago! Learn more and register to attend here.

During the pandemic, home improvement projects surged. However, as noted in YipitData's 1H23 State of the Home Improvement Report, consumer behaviors have since recalibrated and subsequently transformed the industry. While GMV sales growth has slowed to 2-3% in 1H23 vs 23.5% in 2021, the home improvement industry's outlook still remains positive with 1H23 amassing an impressive $220 billion in sales.

The most striking transformation in the home improvement industry has been a strong push towards online sales, now representing 37% of the total home improvement market. This has allowed generalist giants like Amazon, Walmart, and Costco to challenge industry specialists like Home Depot and Lowe's for industry market share.

So, how are evolving industry dynamics impacting key categories like Garden Center during the hottest summer on record?

Garden Center category shifts are partially due to significant growth observed across specific product subcategories, such as Watering & Irrigation. Notably, Amazon has experienced rapid growth in Watering & Irrigation, growing share 13 pp in 4 years, at the expense of traditional players like Costco and Home Depot.

On Amazon, the brands driving growth for Watering & Irrigation include Orbit, Giraffe Tools and Flexzilla.

However, the top SKU's responsible for brand growth on Amazon in 1H23, include smart sprinklers and garden hoses.

Interested in learning more on key industry and subcategory trends including tools, hardware, and outdoor power equipment? Read YipitData's 1H23 State of the Home Improvement Reportfor the full story.

About YipitData

With over 205M home improvement data points annually, YipitData has coverage across 8,000 distinct brands and key retailers, including Home Depot and Lowe's, giving you the visibility you need to make better business decisions. Our proprietary approach combines data (physical/email receipt, cc, web-scraped, etc) with predictive modeling to give you the most accurate and granular read on your market performance with only 7-10 days of lag.

We would love to connect with you at HIRI's 2023 Insights Summit!

Attend the Annual HIRI Summit to Keep Ahead of Market Changes

The hous­ing and home improve­ment mar­ket con­tin­ues to change rapidly.

If your brand is to stay rel­e­vant to Pros and DIY­ers while main­tain­ing and gain­ing mar­ket share, you and your team must keep your minds sharp to cur­rent indus­try trends and cus­tomer behaviors.

HIRI’s Home Improve­ment Insights Sum­mit is the pre­mier event deliv­er­ing the lat­est insights into con­sumer and pro cus­tomers atti­tudes, dis­tri­b­u­tion chan­nel shares, and hous­ing macroeconomics.

You’ll be hear­ing from experts in the indus­try who will be bring­ing to you research-based guid­ance for under­stand­ing mar­ket dri­vers, fore­see­ing changes, and dri­ving prod­uct and ser­vice strat­e­gy and innovation. 

Thank you to YipitData for sponsoring HIRI's 2023 Home Improvement Insights Summit, happening September 27 and 28 in Chicago. Learn more and register to attend here.