The last week of September brought in not only the fall, but the largest HIRI event to date, the 2019 HIRI Summit. The annual event held in downtown Chicago brought together industry insiders, thought leaders and some of the largest stakeholders in home improvement and remodeling to discuss current trends, the economic environment, and actionable insights.

There will more coverage of the Summit in coming weeks, but in the meantime, here are some of the top insights.

• The fundamentals of the home improvement market are strong, and housing stock and homeowner make-up are favorable in keeping the market strong. - Nino Sitchinava, Houzz
  
  
• Discretionary luxury remodeling is slowing with the five product categories facing most severe headwinds: High end cabinets, cladding, flooring, roofing and dimensional lumber. - Todd Tomalak, John Burns Real Estate Consulting
  
  
• Do not underestimate the effects that trade wars have on “bystander” countries and industries—firms can and have paid dearly for assuming they will be unaffected simply because their supply chains and/or end products are not being directly targeted. - David Logan, NAHB
  
  
• It is important to measure the impact the weather has on your business, and you CAN do something about the weather — both in the planning process and during the selling season — to increase sales, minimize costs, and enhance profit. - Scott Bernhardt, Planalytics
  
  
• For home improvement, the shopper’s journey is not just ‘where do I find this?’ but more importantly ‘how do I do this?’ making the role of the associate critical. - Amy Anthony, Lowe's
  
  
• Shopping and purchasing via mobile device is growing rapidly and must be a main strategy at retail. - Brendan Baby, The Home Depot
  
  
• Breaking barriers to entry online requires creative solutions such as how to bring the ‘touch & feel’ from the store into the home, expanding delivery options, reducing shipping expenses, reversing a bad return experience, and capturing the customer’s attention early during their research phase to avoid cart abandonment. - Leen Nsouli, The NPD Group
  
  
• Gen Z is a DIFFERENT generation than Millennials. They look like no other youth generation before. They value pragmatism and security as they embark on changing the world. - Therese Caruso, Zeno Group
  
  
• 80% of organizations expect to compete mainly based on CX this year – Experience-led businesses have higher customer retention, return on spend and higher customer satisfaction rates. - Michele Booth, IPSOS
  
  
• When you talk about sustainability as it relates to home improvement purchases, savings is not an effective message. Try to tie the benefit to health, and give Americans prescriptive steps to take to make it happen. - Suzanne Shelton, Shelton Group.

HIRI/IHS Markit forecast expects 4.1% growth in the home improvement products market in 2019 after a strong 4.6% in 2018.

Total home improvement products sales are expected to increase 4.1% in 2019 to $405 billion in total sales. The Professional Market is expected to increase 4.5% in 2019 over 2018 and the Consumer Market will see a sales increase of 3.9%.

The National Economic Outlook

INFOGRAPHIC: DIY to Do-it-for-Me Home Improvement

How do homeowners use the products they purchase? The answer sheds light on how they are planning to improve their home — and what they need and want from you.

What projects are top-priority for homeowners in 2019?

The quarterly Project Sentiment Tracking Survey tracks project plans across 32 home improvement project areas. From planned project execution to planned budget, results from 3,000 homeowner responses shed light on motivations and where in the home your potential customers have planned or upcoming projects.

This guide is your single source for home improvement market trends.

How will tariffs and the Tax Act affect your business? 

How will recent tariffs and the 2017 Tax Cuts and Jobs Act affect home improvement industry pros and their businesses? For the answers, the Home Improvement Research Institute (HIRI) surveyed nearly 300 panelists across various construction and remodeling trades.

Join the Brightest Minds in Home Improvement This Fall

As a home improvement industry specialist, you crave high-level and granular insights developed by and for category pros. This September, immerse yourself in an intimate, custom-built setting for thought leaders and change makers working within a unique yet massive space.

How Canada’s Economic Outlook Impacts the Home Improvement Products Market

Which home improvement services have the highest demand, and who’s buying them?

In the last decade, it has become increasingly more common to hire professionals for home improvement projects. The Home Improvement Research Institute’s (HIRI) Product Purchase Tracking Study found that today at least 10% more homeowners are using home services than in 2009, resulting in a near-40% increase in the number of services purchased in a year.

Study Highlights

Want valuable DIY and pro insights for your business? Based on data from three proprietary Home Improvement Research Institute (HIRI) studies, the Trends in DIY and Pro Home Improvement report may be exactly what you need.

Study Highlights

Why are American homeowners planning fewer home improvement projects?

Each quarter, the Home Improvement Research Institute (HIRI) partners with The Farnsworth Group and HomeAdvisor to survey contractors on a rotating list of topics, as well as their industry and business sentiment. The two most recent contractor topic studies covered the effects of tariffs and the tax act in the fourth quarter of 2018 and a construction industry labor shortage in the first quarter of 2019.

Study Highlights

Which products are leading sales in the consumer and professional markets?

Each year, hundreds of home improvement industry experts and professionals gather to network, share research and explore upcoming trends and forecasts at the Home Improvement Research Institute (HIRI) Insights Summit. “HIRI has evolved over the last three to five years with good leadership,” said Diane Walsh, vice president of market development and sales at ShurTech and HIRI president. “This year’s conference promises to be the best yet.”

Content delivered at September’s HIRI Insights Summit will fall under three pillars:

HIRI/IHS Markit forecast expects 5.5% growth in the home improvement products market in 2019 after a strong 6.2% in 2018.

Total home improvement products sales are expected to increase 5.5% in 2018 to $420 billion in total sales. The Professional Market is expected to increase 6.0% in 2019 over 2018 and the Consumer Market will see a sales increase of 5.3%.

It's an Omnichannel World

Thriving omnichannel businesses don’t just sell through multiple sales channels — they create a continuous experience for consumers. From brick-and-mortar stores to online-only storefronts, print media and social media, omnichannel businesses make it easy for customers to find and interact with them and their products.

These Generational Insights Can Boost Your Home Improvement Business

How prevalent is homeownership from generation to generation? Will this be the year millennials close the gap? What are the biggest motivators for home improvement projects? How long do homeowners from different generations think about a project before taking the plunge? These are just some of the generational insights you can glean from the newest Generational Age Group Analysis. This original, proprietary research provides a comprehensive picture of generational attitudes and behaviors, from millennials to matures.

Outdoor Spaces Have Most Planned Home Improvement Projects in Coming Months

It’s only January, yet American homeowners are already gearing up for spring. According to the Q4 2018 Project and Sentiment Tracking Survey, which surveys adults in the United States about their planned home improvement projects, outdoor living spaces will feature the most activity in the next three months. More than one-quarter of homeowners surveyed indicated they will take on lawn and garden and/or landscaping projects during this time.

Which projects do recent homebuyers prioritize?

When it comes to learning about the home improvement projects new homeowners — especially first-time buyers — undertake and the projects completed or planned for newly purchased homes, there’s no better resource than the Home Improvement Research Institute’s (HIRI) Recent Home Buyers Study. Conducted every other year since 2004, the study tracks recent homebuyer behavior regarding home improvement projects.

So, who are these buyers? First-time homebuyers (36 percent of buyers within the past year) tend to buy older, less expensive homes. They are also more likely to be millennial-aged females with lower incomes. Lower incomes translate into less buying power, which translates into more price constraints and offers a valid reason why older homes are often a more realistic option. Not to mention that low credit scores and hefty down payments can also be problematic for first-time buyers.

Learn more about the differences between homebuyers and their motivations, challenges and home improvement plans when you join HIRI. As a member, you’ll have unlimited access to this study and other in-depth, exclusive research, peer-to-peer networking, event registration discounts and more. JOIN NOW

How do home improvement pros decide where to shop?

What drives remodeling, landscaping and other home improvement pros to shop at a home improvement warehouse store versus a specialty distributor? What factors do they consider most critical for strong supplier partnerships?