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Uncertainty Creeping Into Contractors' Future Business Outlooks in Q2 of 2023

A new narrative is taking shape, in contrast to contractor sentiments than we’ve been seeing for the last couple of years. Pay attention to how contractor outlook for the future of 2023 and especially 2024 is changing. Here’s what we’re seeing:

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Uncertainty Creeping Into Contractors' Future Business Outlooks in Q2 of 2023

A new narrative is taking shape, in contrast to contractor sentiments than we’ve been seeing for the last couple of years. Pay attention to how contractor outlook for the future of 2023 and especially 2024 is changing. Here’s what we’re seeing:

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Home Improvement
Building & Construction

Residential Roofing Market Watch: Homeowner Trends in Roof Repair and Replacement

Roofing projects are a staple project when it comes to maintaining and protecting the value of a house, and homeowners depend heavily on professional contractors to help with repairs and replacements—from selecting and acquiring materials to performing the actual installations.‍ Here's a look at what homeowner trends are impacting the roofing industry in 2023:

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Home Improvement
Customer Usage and Attitude

5 Ways to Increase Your Product’s Market Penetration Rate in the Building Material Market

To improve your product’s market penetration rate, you have to be intentional about positioning yourself more competitively in a market you occupy. This starts by genuinely understanding your customer. Then you can identify and implement strategies to increase saturation by solving for the customer and presenting value that competitors are missing.Here are a few ideas for strengthening your market penetration strategy:

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Market Sizing
Customer Usage and Attitude

Independent Home Improvement Retailers Report Lingering Business Slowdowns Preceding 2023

In Q4, retailers were seeing year over year improvement in transaction count and profit margins compared to Q3, however cost of goods continues to be a concern.

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Building & Construction
Home Improvement

Large Kitchen Appliances Market Watch: Trends in Consumer Purchase of Stovetops, Refrigerators and Dishwashers

With the emerging consumer shift in 2023 towards repair and remodel focused projects, discretionary purchases of appliances may be put on hold, or result in trading down, but necessary replacement of appliances will continue. Here's more on this and other trends in the Consumer Large Appliance category:

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Customer Usage and Attitude
Home Improvement

How to Gain Share of the DIY Home Improvement Market

Because of inflation, the rapid pace of growth in DIY home improvement spending is expected to slow down in 2023. This makes it imperative for building materials companies to be intentional and strategic when looking for ways to expand their market share. In other words, you’ll have to compete again. Here's how to get the upper hand:

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Home Improvement
Market Sizing

Better Understand Your Building Product Customers

Download informative reports to keep a pulse on how your target DIYer, Contractor, Builder, and Architectural customers' purchase behaviors are changing.

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