In 2024, home improvement in the US is expected to see another year of notable current value decline, which is attributed to several factors. First, the steep costs associated with completing home improvement projects are likely to deter many homeowners from investing in renovations.
Foor covering, which is primarily used in private household upgrades, is expected to see another year of decline in 2024, due to subdued consumer confidence in real estate purchases. The softening demand from the rental market will exacerbate this trend.
In a climate in which consumers are prioritising cost-saving measures, the trend of opting for like-new refurbished power tools is likely to gain significant traction. Walmart Restored was introduced in Walmart Marketplace, offering “good as new” electrical products.
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Understand the latest market trends and future growth opportunities for the Home Improvement industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home Improvement industry in USA, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Home Improvement
Includes: products purchased by consumers through retail channels.Excludes: commercial sales to professional builders / tradesmen / contractors etc. Home improvement refers to bathroom and sanitaryware, decorating sundries, floor covering, hand tools, hardware, home paint, kitchen sinks, power tools, wall covering and other home improvement.
See All of Our DefinitionsThis report originates from Passport, our Home Improvement research and analysis database.
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