Here are a handful of current trends in the hardware market, as well as future forecasts, to factor into your company’s decision-making process for 2024 and 2025:
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:
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:
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:
As commercial and residential construction evolves, existing design trends will both drive the emergence of new trends while simultaneously keeping pace with current trends. An important customer segment to keep in mind is Designer Pros. Here's are key drivers in how these professionals specify building products.
Our market research team at The Farnsworth Group surveyed Builders, Remodelers & General Contractors across the United States to compare continuity to shifts in how Pros research, find, select, and purchase building materials and home improvement products. Review the latest findings:
Download informative reports to keep a pulse on how your target DIYer, Contractor, Builder, and Architectural customers' purchase behaviors are changing.
.jpg)
