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The Home Improvement Research Institute's U.S. Size of the Home Improvement Products Market Report & Forecast is published quarterly and offers data related to several key drivers for the home improvement products market, including inflation, international trade dynamics, and business fixed investment. You should be looking for short- and long-term trends in real disposable income, the labor market, employment rates, and housing market activity. All of these factors contribute to the varying market forecasts for individual home improvement products and categories. HIRI's Monthly Economic and Industry Update curates general economic data, housing market data, and home improvement market data for convenient understanding of what's going on currently with market dynamics. HIRI also publishes Quarterly Home Improvement Project Activity Trackers and Quarterly Contractor Business Sentiment Trackers.
The Home Improvement Research Institute's market reports provide product category-level data and contextual insights to give you an objective view of current and forecasted market dynamics. Additionally, the reports include information about macroeconomic trends and housing market activity, which influence the overall outlook for the home improvement products market for both consumers and trade professionals. Analyzing annual market reports enables you to develop a more effective strategy based on hard data, rather than assumptions or anecdotal evidence.
A few factors you should prioritize when selecting a service to study consumer psychographics in the DIY market include industry expertise, data quality and security, methodological rigor, cost and value, technological capabilities, and comprehensive reporting. The Home Improvement Research Industry (HIRI) is the leading provider of secondary market research for the home improvement industry, offering members access to a wealth of data and robust insights into Homeowner and Pro customer behaviors, the current state of the home improvement market in both the U.S. and Canada, specific insights across dozens of home improvement projects and home improvement product categories, and channel dynamics. For example, through HIRI's research, you can unpack insights into why DIYers in the U.S. undertake home improvement projects, their skill levels, their spending behaviors, their relationship to industry professionals, how they choose where to purchase building products, and other psychographic variables. You can do the same for Pros.
The Home Improvement Research Institute's market reports are packed with data related to an array of key drivers and variables that shape the home improvement products market. Using the visuals included in the reports, you can track how different product categories have performed in recent years, as well as forecasts for the upcoming years. The narrative provides additional context, enabling you to gain insight into how these market drivers relate to your specific product categories and customer base and should influence your business strategy.
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