One of the easiest DIY projects to tackle in terms of skills, time and financial investment -- is painting, which quickly increased in popularity through the pandemic period. But the same dynamics playing out in other sectors of the economy are manifesting themselves in this market. The increase in demand has not been matched by the ability to deliver supply.
During the past two years, the home improvement sector experienced an uptick in sales as customers tackled do-it-yourself (DIY) projects to improve the functionality or aesthetics of their homes—and kill time. This elevated level of activity has reshaped the landscape of the paint market.
J.D. Power research indicates that customers are recalibrating their expectations and buying habits when it comes to paint, as factors like environmental friendliness, durability and toxicity become more top of mind in this challenging environment. This shifting dynamic creates an opportunity for brands and retailers to distinguish themselves in a competitive market.
Offered Free by: BizTechReports
See All Resources from: BizTechReports