2020-07-30 02:55:11
According to a recent home improvement survey conducted by Wakefield Research:
73% of Homeowners Still Plan to Renovate in 2020
57% are moving forward with and/or expanding projects
23% are cutting back or cancelling
Average amount homeowners intend to spend: $11,851
63% intend to pay with savings
31% will use credit cards
Source: LightStream
Demand for Windows
Source: Fenestration and Glazing Industry Alliance 2019/2020 Study of the U.S. Market for Windows, Doors and Skylights
Key Sales Targets Amid COVID-19
91% growth in outlying suburbs of small metro areas
Single-Family 12.4%
Multi-Family 18.4%
of construction occurs in markets featuring education and health services
Source: National Association of Home Builders (NAHB) Home Building Geography Index (HBGI)
Decreases in Business Functions Amid COVID-19
● Decreased Much ● Decreased Somewhat
Marketing, advertising, and promotion activities 22% 34%
Overall R&D activity 11% 35%
New funding for product/ technology development 13% 26%
New product development research 6% 33%
Seeking new services providers to support R&D or marketing 13% 16%
Focus on green building products 5% 6%
Work-at-home by company's R&D staff 5% 5%
Source: April 2020 Survey of Building Product Manufacturers & Service Providers by Home Innovation Reseearch Labs
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