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   Articles | How-Tos | Ask the Expert   

Strong Housing Market Drives Sales for Home Improvement Products Market, Creating More "Do-It-Yourself" Consumers
Throughout the past decade, a strong economy has fueled a booming housing market creating more homeowners. In fact, Goldman Sachs' recent studies indicate total home building and remodeling increased about 9 percent in 1998 to $300 billion. Additional reports reveal that each year, homeowners spend an average of $1,300 to $1,900 on home improvement projects and/or products. Studies from the Home Improvement Research Institute indicate there is a growing market of consumers who do home improvements themselves. Additional evidence to support this is apparent from the growing number of Do-It-Yourself magazines and television shows available to consumers.

Women's Independence and Home Ownership Contribute to a Steady Increase of Female Do-It-Yourselfers
The Home Improvement Research Institute's studies show that as gender roles continue to shift and more and more women become the heads of household and individual homeowners, the female Do-It-Yourselfer is quickly becoming a growing segment of the total Do-It-Yourself consumer market. In fact, a national leading home center estimates about 50 percent of its customers are women. Additional evidence to support this is seen in home improvement manufacturers' shift in advertising, depicting ads and marketing material that caters to the female Do-It-Yourselfer. And popular home improvement television programs frequently depict home projects being completed by men and women. Sources also indicate that women are taking on more complex home improvement projects that were traditionally male dominated projects.

Steady Increase in Internet Usage Attributed to More Consumers Going Online For Home Improvement Advice and Expertise
According to the International Data Corp. (IDC) the worldwide Internet economy will surpass the $1 trillion mark in 2001, and by 2003, it will be well on its way to $3 trillion. The online audience is expected to triple, increasing to more than a half billion individuals worldwide who will be online by 2003. Reports indicate consumers are using the Internet to conduct financial transactions, make product purchases, obtain expert advice and join like-minded online communities. As Internet usage continues, these trends will only increase.

Increasing Popularity for Older Home Restoration Drives Many Consumers To Become Do-It-Yourselfers
Goldman Sachs' sources indicate that middle-class Americans are continuing to embrace historic home restoration just as enthusiastically as wealthier Americans. And sources indicated that a steady increase in older home sales to middle class Americans, drives many of these consumers to become Do-It-Yourselfers, in an effort to keep restoration costs lower.

 




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