DIY Surge During Covid-19 - Manufacturers Take Note!
Why manufacturers should focus on DIY-friendly features during Covid-19 and empower their customers.
The Covid-19 pandemic has taught us a lot. From the resilience of mankind, to the need to adapt and use technology to overcome hurdles in business. For manufacturers like us, international travel restrictions caused chaos in the first quarter of 2020, but it also triggered a surge in demand for home renovation products.
Let’s take a look at the figures.
1: Remodelling expenditure in the US in the first quarter of 2019 amounted to $328 billion, which increased significantly during Covid-19 and is expected to reach $333 billion by the end of this year (2020). (1)
2: A Consumer Specialists survey of more than 600 US homeowners conducted in June 2020 revealed that 57% carried out a home improvement between March and May 2020, spending on average of $1,750. The two primary reasons for their home improvements were;
- More time to renovate or improve their home due to Covid-19
- Time at home made home improvements more important. (2)
3: Home Depot and Lowe’s reported a historical rise in quarterly revenue as housebound Americans spend billions of dollars on DIY supplies during the global pandemic. Marvin Ellison, Lowe’s chief executive reported a 34% increase in like for like sales and puts this down to their customers finding projects to do around the house during lockdown. Craig Menear, chairman and chief executive of Home Depot said the pandemic had sparked a need for repair and maintenance around the home, as their customers began to realise the importance of their home environment. (3)
Since, many families across the US were forced to spend more time at home, Covid-19 became the catalyst for the demand and global trend for DIY and home renovations. With so much free-time on their hands, American families decided to get round to all those odd-jobs and interior design ideas that they’ve been meaning to do for weeks. Armed with social media, YouTube tutorials and online marketplaces, thousands of people decided to invest in their living space.
What Were The Features That Helped Mounting Dream Succeed?
The fear of exposure to the Covid-19 virus led to more people attempting repair and home renovation work themselves, rather than hiring a handyman or professional to do the job. So, the key factor for our company was to promote just how easy, simple and DIY friendly our products are.
DIY-friendly elements were the key to our success at Mounting Dream and other manufacturers should take note! By designing TV wall mounts that are easy to install, even without previous experience of mounting a TV to the wall, the interest in our DIY-friendly products boomed during 2020. On Amazon, you can see our customer reviews, that highlight our significant rating for ‘easy to install’. By designing products that consumers can buy online and assemble easily at home, you can attract more customers as a manufacturer, and grow your business even during these uncertain times.