Demand for home improvement products and services increased during the COVID-19 pandemic, with people spending more time in their homes. With people becoming homebound and continuing their hybrid lifestyles, demand remained stable even after the restrictions were eased.
Nearly 76% of American homeowners did a home improvement project in 2020. Last year, Americans spent approximately $538 billion at home improvement stores. This trend is projected to continue in the upcoming years, driven by rapid urbanization, a growing transition toward energy-efficient living spaces, and the continuation of hybrid working models across various organizations.
