Home Improvement Research Institute (HIRI)

According to HIRI’s latest Quarterly Homeowner Activity Tracker, homeowner intent to engage in home improvement projects is still strong. In fact, 78% of homeowners stated plans to engage in home improvement projects in Q4, marking a 71% increase over Q3 intent. This encouraging insight is welcome news for the US home improvement industry that is forecasting steady growth in 2025. Understanding these trends will help you anticipate demand and position your brands for success in the year ahead.

Despite popularity in DIY projects, the preference to opt for DIFM, or Do It For Me, continues to drive business for contractors in the home improvement industry. Over the past year, 80% of homeowners hired a professional for at least one home maintenance project. The most sought after services? HVAC, pest control, plumbing and electrical work. Homeowners turn to licensed providers for many reasons such as physical limitations, safety concerns and the desire for high-quality results. These prac­ti­cal con­sid­er­a­tions underscore the ongoing demand for skilled con­trac­tors. Explore more of the challenges and opportunities for home service providers: https://hubs.la/Q02-FHC00

How much do homeowners really spend on home maintenance? And how often do they hire pros vs. DIY? HIRI’s latest Home Services Study dives into key insights on homeowner habits, satisfaction and service preferences. For home improvement brands, these findings are essential for understanding market needs and tailoring services to specific homeowner segments. Swipe through the data below and discover more insights like these to keep your strategies sharp: https://lnkd.in/gfHcXZMz

Ana­lysts for HIRI recent­ly released the lat­est iter­a­tion of the U.S. Home Improve­ment Prod­ucts Mar­ket Fore­cast, a valuable report offer­ing insight into the state of the indus­try and the broad­er eco­nom­ic landscape. Here's what you should know: 📊 The U.S. home improvement market is set for a 3.9% rebound in 2025 after recent declines, with regions like the South and West leading growth. Top rising categories include flooring and cabinets across the board, as well as garden supplies for consumers and major appliances for pros. HIRI members can gain exclusive access to the detailed forecast now. Not a HIRI member? Sign up today: https://hubs.la/Q02YhCHz0

Data from HIRI's 2024 Con­trac­tor Pro­mo­tion Effec­tive­ness study shows that pro­mo­tions — whether that be dis­counts, loy­al­ty pro­grams, bulk pur­chase dis­counts, or offer­ing free ship­ping — increase loy­al­ty and per­ceived brand val­ue among near­ly two-thirds of home improve­ment pros. Promotions can be an effective and important tool in your marketing toolkit. For strategic tips on which types of promotions to implement based on your unique customer base, head to the HIRI blog: https://hubs.la/Q02Xq0sn0

HIRI's 2024 Home Improvement Retail Selector Study shows that nearly 3 in 4 shoppers prefer one-stop shopping. Promoting cross-category purchases can be an effective way to enhance your customer experience and drive sales. 💡 Key strategies you can deploy involve: 1️⃣ Displays & Promotions: Bundle complementary products and offer seasonal discounts. 2️⃣ Category-Adjacencies: Use store layout to increase exposure to related categories. Head to our blog to learn which home improvement categories have a high rate of cross-category purchasing: https://hubs.ly/Q02SbcDt0

Members, join us for a webinar on October 17 to hear Patrick Cul­hane, VP of brand strat­e­gy at Brunner to explore suc­cess­ful strate­gies for connecting with mil­len­ni­als. Attendees will leave with an actionable 5-point plan to better engage with this crucial segment of homebuyers. Register here: https://hubs.ly/Q02S9R530

Thank you to all who joined us in Chicago for the 2024 HIRI Insights Summit! As always, it was an invaluable opportunity to connect with leaders in the home improvement industry and learn about the trends shaping our field. A few top takeaways from the event: 🔹 Consumer demand remains strong despite economic challenges, with a focus on value-driven projects. 🔹 Older homeowners with high value homes account for nearly half of home improvement spending consistently, and drive the need for Pros to complete the work. 🔹 Gen Z and Millennials are leading the DIY movement, bringing new opportunities and preferences to the market. 🔹 Consumers are prioritizing eco-friendly materials and energy-efficient products more than ever before. Missed the event or just want a refresh? Dive deeper into the insights from each speaker in our full recap 👉 https://hubs.ly/Q02SbW350

Middle-income families show the most promise for smart home and energy efficient product adoption of all segments of homeowners. Where does the opportunity lie to connect with this group? They are driven by: 💵 the opportunity for reduced costs 🏡 the desire for a comfortable, convenient and healthy lifestyle 👨💻 an interest in technology However, about a quarter of this group reports concerts over the technical aspect of smart home, energy efficient and sustainability products, while one-third is resistant to smart home technologies due to privacy and security concerns. Be sure to tailor your messaging appropriately, and check out HIRI's infographic on middle-income families for more insights: https://hubs.la/Q02RRgr-0

Interestingly, HIRI research has found is that home­own­ers who stat­ed they are most con­cerned about polit­i­cal and envi­ron­men­tal issues spent DOUBLE and event TRIPLE the amount on home improve­ment in the last 12 months com­pared to home­own­ers who are most con­cerned about per­son­al or nation­al fis­cal issues. This group of home­own­ers is also the most afflu­ent with 36% earn­ing $160,000 or more and 37% earn­ing between $80,000 and $160,000. When it comes to posi­tion­ing a brand among tar­get buy­ers, it’s impor­tant to con­sid­er their current concerns. You can apply these insights to increase the effectiveness of your mar­ket­ing and adver­tis­ing strate­gies and help bet­ter resonate with different segments of customers. A concern for the environment may be an opportunity to connect with big spenders on sustainable home improvement upgrades and energy efficient appliances. For other groups, it would be best to emphasize cost savings for the same products, if applicable. Learn more ways home improvement spending has changed for 2024: https://hubs.la/Q02Pccd10