The US home improvement market is worth billions of dollars and shows no real sign of slowing up. In fact, statistics confirm that despite slight fluctuations the trend has been upwards for the last 15 years.
This is quite a contrast to many areas of the high street which are struggling in these difficult economic times. The prevalence of internet shopping has drawn many customers away from traditional shopping. But this is not the case with home improvements.
The main reason for this appears to be the need to see items before you can incorporate them into your own home.
Most industries have a peak time and for the home improvement market this is definitely the spring time.
This is when people start to feel the weather warming up and take a look at their houses. Basic maintenance and evaluating any pest issues are always the first order of business.
Then the attention will shift to home improvement projects.
These can vary from simply tidying the yard to undertaking an extension or even a new veranda or outside kitchen.
This is the time of year that home improvement businesses prepare for and make the majority of their profit. Of course sales continue through the summer and into the winter; but spring has always been the key point in the home improvement calendar.
Why the Home Improvement Business Is Booming
The answer is really quite simple. In volatile economic times it is important to evaluate personal spending and decide what is best for the future.
For the majority of people owning their own property is their most significant investment and the most important one.
To protect this, increase its value and even improve their retirement fund the value of a home must rise.
The best way of achieving this is through home improvements and protecting your current assets.
Is There A Breaking Point
In general economics dictate that all business booms eventually go bust. However, this is not the case in the home improvement market.
Home improvements are necessary to ensure any home is as comfortable as it can be and that it stays up to date with modern trends and gadgets.
It is also the best way of ensuring a home adapts to the needs of the people living there. Alongside this there is always the concept of ‘keeping up with the Jones’s’. This can propel many people to undertake additional home improvements even if they don’t need them.
The result is a constant demand for the home improvement businesses.
But this is not the only trick these businesses have up their sleeve! Home improvement businesses have managed to create a market that virtually demands you make some alteration in the spring. Most homeowners will expect to undertake a home improvement project or two simply because they have been conditioned to do so in the spring.
That’s clever marketing from the home improvement businesses and the reason why they will continue to boom for years to come. All they need to do is keep people feeling proud of their homes!