More than 2 million new buyers were added to the market.
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STAT: More projects were done with lumber and building materials in the 12 months ending April 2021 compared to the prior year, with approximately 2 million new buyers added to the market. In addition to this increase in buyers, the average spend per buyer increased more than 10%.
ANALYSIS: “The consumer’s need to find ways to keep busy while quarantining at home brought a tremendous increase in home improvement projects, and the number of consumers engaging in them," said Joe Derochowski, Home Industry Advisor, The NPD Group. "With fewer evening and weekend activities, consumers were finally able to work on projects that had previously been stuck on their wish-list.”
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The NPD Group is a global information company offering data, industry expertise, and prescriptive analytics. NPD’s Checkout provides receipt-based information on in-store and e-commerce purchases from over 150,000 actively engaged buyers, the largest omnichannel panel focused on general merchandise and foodservice.
The average spend per buyer increased more than 10%. (source: NPD Group)