Other than totes and bins, floor-standing shelving is the most popular kind of garage storage product, according to the NPD Group’s 30,000-strong consumer panel. And in a tough economy, the business skews toward the wealthy. Those are some of the conclusions of the latest HCN Consumer Calculator.
Analysis: Garage storage and organization accounted for $450.9 million in total spending in 2010, according to the NPD Group — that’s down 11.4% from 2009. Mass merchants appear to be chipping away at the warehouse home centers (WHC), which dominate the market.
Analysis: As a reason for purchase, “trusted brand” remains a top-three motivator. And as home centers embrace “back-to-school,” totes and bins benefit.
Analysis: The 65-plus age group showed by far the biggest increase in 2010 — up a full 5 percentage points over 2009. Meanwhile, the wealthiest consumers are driving this category.
Methodology: NPD data are based on monthly tracking of more than 30 home improvement-related categories and 30,000 opt-in consumers. The 2010 data above come from the 12 months ended Feb. 28, 2011.