The Farnsworth Group has been tracking the impact of COVID-19 on the home improvement industry for a year now — thus allowing for year-over-year comparisons.
And as spring helps wake up the home improvement industry, the initial year-over-year comparisons show strength for the home improvement industry.
For instance, consider the percentage respondent who said they have started a new DIY project in or around the home in the last month:
• March 2021: 66%
• March 2020: 60%
Here's the breakdown of those who purchased home improvement products online and picked them up at the store:
• March 2021: 21%
• March 2020: 13%
And here are the numbers for those who are planning to start a new DIY project in the coming weeks.
• March 2021: 71%
• March 2020: 63%
"The signs are very very positive," said the Farnsworth Group's Grant Farnsworth. "What's driving that intent? Lawn garden and landscaping projects that are coming onboard as we kick off the spring season."
[Watch the Farnsworth Group DIY presentation here.]
Lighting, flooring, deck, and smart home projects are also active, he added.
As the vaccination effort rolls across the country, the frequency of projects inspired directly by the pandemic are declining, the data shows. "Covid is less of a catalyst today than it was in March of 2020," said Farnsworth.