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Home Improvement and Gardening Stores in the US

United States home improvement stores market: Declining to $197 billion industry by 2017


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2014-02-26 04:41:03 - Home Improvement and Gardening Stores in the US - a new market research report on companiesandmarkets.com

As with most natural disasters, the late season storm Hurricane Sandy was an unexpected factor that had a major impact on retail sales in the northeast of the country. For the United States home improvement stores market, closures and lasting supply chain effects meant lower sales in the third quarter when the hurricane hit followed by slightly improved sales following re-openings and clean-up in the fourth quarter. Overall, the 2012 performance was lower than anticipated.

Aside from the hurricane, general macroeconomic conditions in 2012 were favourable to home improvement and gardening stores. The improving housing market boosted sales in 2012, as inventories of existing houses reached new lows and consumer demand rose. Spending on home improvement projects, appliances and decor were

 

 

also helped by a stronger overall consumer confidence. With a significant portion of consumers seeking innovation and self-expression through their homes, that strength translated to increased discretionary spending on their homes.

Sales at home improvement and gardening stores declined 1% in 2012. The repair and remodel trend continued to aid sales in the channel, although growth of contractor sales may take away some DIY consumer sales as discretionary income grows.

Key Headlines

- Sales at home improvement and gardening stores decline 1% in 2012 to US$213 billion
- Hurricane Sandy negatively impacts third-quarter sales but contributes to stronger sales at home improvement and gardening stores in the fourth quarter
- Both Home Depot and Lowes, the two largest retailers in this category, grow strongly and increase their market share in 2012
- Constant value sales of home improvement and gardening stores are expected to decline 8% over the forecast period to reach US$197 billion in 2017

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Author:
Mike King
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