Consumers are more confident about the economy’s continued improvement and are projected to spend more this year on home improvement projects, according to research findings shared this week by lifestyle media leaders HGTV and DIY Network during the 2014 Kitchen and Bath Industry Show (KBIS) and the International Builders’ Show (IBS).
The cable programmers reached the week’s massive home and design audience with new and encouraging consumer information fresh from Scripps Networks Interactive’s Under One Roof online consumer research panel comprising more than 15,000 lifestyle enthusiasts ages 18 to 64 who participate in surveys and community forums.
The research indicates Scripps’ consumers have confidence in the economy’s progress and are more likely to make major purchases, especially quality housewares. Scripps’ consumers also are more likely to have home improvement projects on the horizon, turn to television for ideas around those projects, and plan to spend about twice as much as a typical consumer.
“All this new data reinforces the fact that our audiences – the ones who watch our shows, tap our online content and engage with our brands – are the highest-quality, upscale group out there,” said Donna Stephens, senior vice president of national ad sales for Scripps Networks Interactive. “In fact, HGTV has been rated the top network for upscale women for seven years running.”In December and January, Scripps surveyed more than 3,000 of its lifestyle enthusiasts in an online “Consumer Housewares Shopping Study” of purchase behaviors and preferences. Compared with typical consumers, the research shows:
- Scripps' consumers have greater confidence in the economy’s continued improvement in 2014; they’re much more likely to make major purchases, with home furnishings topping the list.
- Scripps' consumers consider quality, performance and brand to be of greater importance when making housewares purchases, while price is less of a factor.
- Scripps' consumers are more inclined to buy housewares at home specialty or department stores (which likely come with a higher price tag), as well as online or via catalog, and are less likely to buy at discount stores.
- The majority of Scripps' consumers intend to conduct home improvement projects, much more likely than non-consumers.
- Home-improvement spending is up considerably, and on average, Scripps' consumers plan to spend nearly twice as much as non-consumers on home projects this year.
- Home-improvement television shows are the most popular information source for Scripps' consumers when planning projects around their homes.