DIY/DIFM Research Insights
The Farnsworth Group and the Home Improvement Research Institute (HIRI) have once again partnered to provide manufacturers and suppliers with monthly updates on critical factors impacting customer behaviors and attitudes in our industry. Specifically Product Availability, Material Costs, and Labor. We'll be fielding monthly surveys to DIYers, DIFM and Contractors to get a consistent pulse on project sentiment and behaviors of each audience.
Check out our Contractor Results.
As we look at year over year trends, we continue to see more homeowners viewing now as a bad time to do a home improvement project. Last November 22% of homeowners thought it was a bad time. That’s now up to 32%.
Same goes for those that feel it’s bad time to hire a Contractor with 24% saying it’s a bad time last November, and now up to 47% of homeowners.
More homeowners are also postponing projects this November up to 57% vs 43% in March. The reason remains budget. Of those that postponed, 67%said it was due to budget. Material prices were mentioned at the clear #1 reason if a homeowner started a project, but had a delay.
We still see a high percentage of homeowners starting a DIY project in November at over 80%. This may seem like a mixed message, but it’s really about still wanting to do a project, and scaling back on what’s done or how much is spent.
Materials & Availability
Availability is not as much of an issue with Homeowners as it is with Pros. 45% of homeowners did not have building product availability issues this month.
And they continue to make home improvement purchases online and instore at similar rates to last November. 27% purchased online and had materials delivered this month vs 23% this time last year. In-store was used by 83% of homeowners this month vs 77% last November.
Costs & Pricing
The good news is that Homeowners still want to do improvements to their home. 67% of homeowners say they will likely or definitely start a DIY project in the coming weeks. That number was 65% last October.
The leading projects are: Painting a Room andGeneral Home Maintenance. We also see a large increase in those planning interior lighting projects and HVAC projects. Keep in mind, holidays and cold weather impact the types of improvements homeowners think about.
Commission Custom Market Research
Our team at The Farnsworth Group will provide you with over 30 years of home improvement industry expertise and specialized market research knowledge to ensure you get the valuable insights you need to make data-driven decisions for your brand.