Thursday, 18 March 2021, 8:05 am
The home improvement sector was among the few bright
spots in the US economy in 2020. According to the research
data analyzed and published by ComprarAcciones.com,
product sales in the space rose by 8.7% year-over-year (YoY)
to $440 billion.
Prior economic downturns have not
been as kind to the market. During the 2008/2009 financial
crisis, the market suffered a three-year
decline.
Based on a report by Harvard University,
annual spending on home renovation and repair is set to soar
by 4.1% in Q1 2021. But by Q3 2021, growth is projected to
taper off to 1.7%.
Lowe’s Net Sales Rose by 28% to
$20.31 Billion, Ace Hardware’s Up by 39.2% to $2.1