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.
