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COVID-19 Summary: Final Insights From the Tracker

The Home Improvement Research Institute (HIRI) and The Farnsworth Group partnered up for the past three months to conduct essential research regarding project requests and closures, homeowner DIY purchases, contractor business, and materials supply trends in the wake of COVID-19. 

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Benefits of Becoming HIRI Member: Upcoming Research Releases

The home improvement industry has seen significant shifts this year, especially with the rise of DIY projects due to stay-at-home orders. Keeping up with how homeowners and construction professionals make their purchasing decisions is a challenge. 

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INFOGRAPHIC: Size of Market Update

In May 2020, the Home Improvement Research Institute (HIRI) partnered with IHS Markit to provide a Size of Market forecast update. Here are a couple of highlights

  • Like nearly every aspect of the US economy, home improvement product purchases have had a significant downturn in the tail end of the first quarter and all throughout the second quarter. A few silver-linings: home improvement has not been hit as hard as other industries.

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What You Need to Know: Secondary vs. Primary Research

Research is a form of scientific investigation that uses empirical methods to collect data through various methodologies, is topical and always begins with an industry question. The data gathered and/or disseminated is then used to inform industry professionals, such as those in the home improvement industry, so they can make appropriate decisions that are relevant to their own goals.

Not all home improvement research is conducted the same, however. While there are multiple methodologies used in research, the two main research types are primary and secondary research. It’s important for home improvement industry professionals to know the difference between them and what benefits each research type can bring to their knowledge and project execution.

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