Historic Growth for Home Improvement

May 22, 2020

So what are we all doing during lockdown? Home improvements! A lot of people are spending their quarantine time working on do-it-yourself projects, which has positively impacted the home improvement sector. People are bored and need something to do, so all the projects they have been putting off are now desirable tasks. Home Depot and Lowe’s have seen their highest increase in over fifteen years. During an economic downturn, homeowners usually pull back on home enhancements and shift spending to repairs and upkeep. Both companies are also offering free tutorials on a wide variety of DIY projects and online projects for kids, as well as curbside pick-up. Currently, the home improvement industry is stronger than ever. But, is this pandemic trend the new norm? Time will tell. 

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