Consumer Project Decisions 5 Key Factors HERO

5 Key Factors Driving Consumer Project Decisions

Jan 28, 2020

5 Key Factors Driving Consumer Project Decisions

Home­own­ers are increas­ing­ly enthu­si­as­tic about invest­ing labor, time and mon­ey into their homes for inte­ri­or and exte­ri­or improvements.

The 2019 Project Deci­sion Study and sum­ma­ry, pre­pared by the Home Improve­ment Research Insti­tute (HIRI) and Ipsos Observ­er, include infor­ma­tion about what’s being done, what’s being spent, rates of DIY projects ver­sus DIFM, design inspi­ra­tion, project sat­is­fac­tion and more.

Here are five key takeaways:

  • Finan­cial out­lays on home improve­ment con­tin­ue to rise, even as spend­ing on sev­er­al oth­er cat­e­gories is stag­nat­ing or declining.
  • Home­own­ers tend to spend a great amount of time mulling over the project, as the birth of the idea to the go-ahead deci­sion aver­ages six to sev­en months.
  • Home­own­ers may post­pone or can­cel cer­tain projects due to cost con­cerns. When they select mate­ri­als and prod­ucts for spe­cif­ic projects, price is often among the top criteria.
  • Brick-and-mor­tar retail­ers are still key des­ti­na­tions for home improve­ment project prod­ucts and mate­ri­als shop­ping, attract­ing rough­ly four in five doers (ver­sus one in five for inter­net retail­ers). Mean­while, 17% shop via both brick-and-mor­tar stores and websites.
  • An appeal­ing, sharp dig­i­tal pres­ence is high­ly impor­tant for man­u­fac­tur­ers and retail­ers. Home­own­ers access online resources to do project research.

Dig deep­er into con­sumer deci­sions and down­load the com­plete 2019 Project Deci­sion study by join­ing HIRI now.

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