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 to be shared by lifestyle media leaders HGTV and DIY Network during the National Hardware Show, May 6-8 in Las Vegas.
HGTV and DIY Network, part of the portfolio of leading lifestyle media company Scripps Networks Interactive (NYSE:SNI), are the only television programmers to attend the show with the objective of developing marketing relationships and solutions that help home product manufacturers and retailers grow their businesses.
Encouraging consumer data indicates Scripps Networks viewers are more likely to make major purchases, have home improvement projects on the horizon and plan to spend about twice as much as a typical consumer. The research is fresh from the company’s Under One Roof online consumer research panel comprising more than 18,000 lifestyle enthusiasts ages 18 to 64 who participate in surveys and community forums.
“This new data reinforces the fact that we deliver what we like to call a ‘view it, then do it’ audience,” said Susan Leigh, vice president of ad sales for Scripps Networks. “The consumers who watch our shows, tap our online content and engage with our brands are the same consumers buying housing products and initiating projects to improve their homes.”In December and March, Scripps Networks surveyed more than 5,000 of its lifestyle enthusiasts in two online studies of purchase behaviors, plans and preferences. Among consumers ages 25-54, the research shows:
- Three out of four Scripps Networks home viewers have home improvement projects intended for 2014, and they’re 35 percent more likely than non-viewers to have such plans.
- Home improvement spending is up considerably from last year; on average, Scripps Networks home viewers plan to spend nearly twice the amount of non-viewers on projects this year.
- The average Scripps Networks home viewer spends roughly $435 on tools in a typical year, which is two-and-a-half times that of the average non-viewer.
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