Do-It-Yourselfers Will Continue to Fuel Home Improvement Market Post-Pandemic, Reports NPD

The popularity of do-it-yourself (DIY) home improvement projects in the U.S. during the pandemic is a trend that will continue with more than 40% of consumers indicating having post-pandemic DIY home improvement plans. According to new insight on the home improvement market from The NPD Group’s Checkout information, approximately one in ten consumers have taken on home projects they would have hired professional services for pre-pandemic, including cleaning, landscaping, maintenance, repairs, and even remodeling.

PORT WASHINGTON, N.Y., Sept. 28, 2020 /PRNewswire-PRWeb/ — The popularity of do-it-yourself (DIY) home improvement projects in the U.S. during the pandemic is a trend that will continue with more than 40% of consumers indicating having post-pandemic DIY home improvement plans. According to new insight on the home improvement market from The NPD Group’s Checkout information, approximately one in ten consumers have taken on home projects they would have hired professional services for pre-pandemic, including cleaning, landscaping, maintenance, repairs, and even remodeling.

Through the pandemic, while most brick-and-mortar channels experienced declines in purchases due to COVID-19, the home hardware store channel has benefited from the consumer’s increased focus on their living spaces, and personal interest in taking on some new projects. With 11% more purchases than last year, home hardware stores were the second fastest growing channel in the first seven months of 2020.

“House-bound in March, consumers noticed opportunities to make their personal spaces more livable as they not only provided shelter, but became office space and schoolrooms for many,” said Shay Krafft, NPD’s president of U.S. home improvement & major appliances. “Home hardware stores were able to remain open and support the needs of the consumer, both in-store and online.”

This increased interest in DIY projects during the pandemic accelerated home improvement market performance in several ways. Across five key home improvement segments of lawn and garden, tools, paint, kitchen and bath, and hardware, both online and in-store purchase methods exhibited double-digit growth in the seven months ending July 2020. Seasonally, industry sales that typically peak in June peaked a month earlier this year, with 48% more sales in May 2020 than in 2019. The amount spent in the average home improvement shopping trip also increased 10% during the pandemic when compared to 2019.

“The heightened attention paid to where we live, and spend so much of our time, has resulted in increased consumer demand for home improvement solutions, but also an expanded customer base,” added Krafft. “The home improvement industry has an opportunity to strengthen these new consumer relationships that will support future success.”

About The NPD Group, Inc.
NPD offers data, industry expertise, and prescriptive analytics to help our clients grow their businesses in a changing world. Over 2,000 companies worldwide rely on us to help them measure, predict, and improve performance across all channels, including brick-and-mortar and e-commerce. We have offices in 27 cities worldwide, with operations spanning the Americas, Europe, and APAC. Practice areas include apparel, appliances, automotive, beauty, books, B2B technology, consumer technology,

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Consumer Kitchen Knife Market 2020 – 2024: Post-Pandemic Industry Planning Structure | Technavio

LONDON–(BUSINESS WIRE)–The consumer kitchen knife market is expected to grow by USD 393.24 million during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the consumer kitchen knife market in optimistic, probable, and pessimistic forecast scenarios.

The consumer kitchen knife market will witness Neutral and Inferior impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to Increase as compared to 2019.

Enterprises will go through Response, Recovery and Renew phases. Download free report sample

With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.

This post-pandemic business planning research will aid clients to:

  • Adjust their strategic planning to move ahead once business stability kicks in.
  • Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
  • Conceptualize scenario-based planning to mitigate future crisis situations.

Download the Post-Pandemic Business Planning Structure. Click here

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

Gain instant access to 17,000+ market research reports by using

Technavio’s SUBSCRIPTION platform

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/ consumer kitchen knife market-industry-analysis

Consumer Kitchen Knife Market 2020-2024: Segmentation

Consumer Kitchen Knife is segmented as below:

  • Distribution Channel
  • Product
  • Geography
    • North America
    • Europe
    • APAC
    • MEA
    • South America

The consumer kitchen knife market is driven by the introduction of consumer ceramic knives and will witness a CAGR of over 4% during the forecast period.

Get more insights about the global trends impacting the future of consumer kitchen knife market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR40081

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in

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Consumer Kitchen Knife Market 2020 – 2024: Post-Pandemic Industry Planning Structure | Technavio – Press Release

LONDON–(Business Wire)–The consumer kitchen knife market is expected to grow by USD 393.24 million during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of COVID-19 pandemic on the consumer kitchen knife market in optimistic, probable, and pessimistic forecast scenarios.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200907005040/en/

Technavio has announced its latest market research report titled Global Consumer Kitchen Knife Market 2020-2024 (Graphic: Business Wire).

Technavio has announced its latest market research report titled Global Consumer Kitchen Knife Market 2020-2024 (Graphic: Business Wire).

The consumer kitchen knife market will witness Neutral and Inferior impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to Increase as compared to 2019.

Enterprises will go through Response, Recovery and Renew phases. Download free report sample

With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.

This post-pandemic business planning research will aid clients to:

  • Adjust their strategic planning to move ahead once business stability kicks in.
  • Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
  • Conceptualize scenario-based planning to mitigate future crisis situations.

Download the Post-Pandemic Business Planning Structure. Click here

Key Considerations for Market Forecast:

  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- as well as post-COVID-19 market estimates
  • Quarterly impact analysis and updates on market estimates

Gain instant access to 17,000+ market research reports by using

Technavio’s SUBSCRIPTION platform

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Get report snapshot here to get detailed market share analysis of market participants during COVID-19 lockdown: https://www.technavio.com/report/ consumer kitchen knife market-industry-analysis

Consumer Kitchen Knife Market 2020-2024: Segmentation

Consumer Kitchen Knife is segmented as below:

  • Distribution Channel
  • Product
  • Geography
    • North America
    • Europe
    • APAC
    • MEA
    • South America

The consumer kitchen knife market is driven by the introduction of consumer ceramic knives and will witness a CAGR of over 4% during the forecast period.

Get more insights about the global trends impacting the future of consumer kitchen knife market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR40081

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all

Read more