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Last year, Americans spent USD 456.364 bn (EUR 393.475 bn) on home improvement products, 13.3 per cent more than in 2019. For the current year also, the Home Improvement Research Institute (Hiri) expects another increase of 13.0 per cent. The growth in 2020 was spurred in particular by the DIY home project activity of consumers; in 2021, however, the surge has been led by professional contractors. Growth in the home improvement product spend of trade customers has risen this year by 18.2 per cent, as compared with 10.8 per cent for consumers.
According to Hiri, overall growth in the current year is unusually uniform across all regions of the USA, with growth rates all between 12.1 and 13.9 per cent. As a comparison, the spread between 2016 and 2020 was 5.8 to 8.2 per cent.
According to Hiri, overall growth in the current year is unusually uniform across all regions of the USA, with growth rates all between 12.1 and 13.9 per cent. As a comparison, the spread between 2016 and 2020 was 5.8 to 8.2 per cent.
