Home Improvement Stores in the US Industry Market Research Report from IBISWorld Has Been Updated

As the US economy continues to recover, the Home Improvement Stores industry is well positioned to experience even more robust growth during the next five years while the number of housing starts is expected to increase. For these reasons, industry research firm IBISWorld has updated a report on the Home Improvement Stores industry in its growing industry report collection.

New York, NY (PRWEB) April 18, 2015

The Home Improvement Stores industry is a mature retail industry largely characterized by a high degree of market concentration and homogeneous product lines, leading to high levels of price competition, particularly between major companies Lowe's and Home Depot. Home improvement stores cater to a wide variety of markets, including professional, do-it-for-me and do-it-yourself customers. Moreover, these retailers offer a broad range of products aimed at improving existing structures. "This diversity relatively protected industry revenue from the crippling effects of the recession on industries more dependent on new construction," IBISWorld Economic Analyst Jocelyn Phillips says in the updated report. Nonetheless, the sluggish recovery of the housing market limited industry growth through 2010 and 2011.

However, this recessionary low provided a strong base for recovery, and Home Improvement Stores industry revenue is expected to grow accordingly during the five years to 2015, including growth in 2015. Rising confidence in the economy and higher incomes have encouraged households to make bigger purchases, and housing starts are expected to increase during the five-year period. With higher disposable income and more new housing, consumers and professionals have undertaken more home improvement projects in recent years, boosting industry revenue growth. Profitability has also grown in recent years, mainly due to the recovery in sales as well as the maintenance of cost-cutting strategies implemented during the lows of the recession. As a result, profit for an average home improvement store is expected to grow.

As the US economy continues to recover, the Home Improvement Stores industry is well positioned to experience even more robust growth during the next five years. The number of housing starts is expected to increase during the five years to 2020, likely boosting demand for home improvement supplies. "Continued industry expansion may threaten profit margins, as competition pushes prices down and drives labor and marketing expenditure up, but the industry's recent expansion into the market for higher-margin appliances (e.g. 3D printers, home automation devices) will likely offset these factors," Phillips says in the updated report. IBISWorld expects industry revenue to grow during the five years to 2020.

For more information, visit IBISWorld's Home Improvement Stores in the US industry report page.

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IBISWorld industry Report Key Topics

Stores in this industry sell a range of home repair and maintenance goods, such as hardware, tools, electrical goods, lumber and structural material for construction and renovations. Hardware stores, which are generally smaller and consequently sell fewer items, are excluded from this industry. Home improvement companies purchase goods from manufacturers and wholesalers, and sell them to end users, such as do-it-yourself consumers and professional contractors.

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About IBISWorld Inc.
Recognized as the nation's most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or

For the original version on PRWeb visit: http://www.prweb.com/releases/2015/04/prweb12663769.htm