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NPD: Consumers Putting More Money Into Their Homes

The NPD Group Home Improvement business category saw a 10% increase in dollars spent in the 12 months ended in August versus the 12 months prior. Total Home Improvement, as tracked by NPD, includes the segments Lighting and Electrical, Fans, Caulk/Glue/Adhesives, Hand Tools, Storage/Organization, Power Tools, Faucets and Showerheads, Outdoor Power Equipment, Lawn and Garden Products, Protection, and Safety.

Unit movement grew by 3%, NPD indicated.

The market research firm noted that the 18 to 34 year old age group, which includes mostly the Millennial generation, now represents nearly 28% of all home improvement sales.

Male home improvement consumers built on a 2% spending increase in 2011 by adding a 10% increase in dollar sales for the 12 months ending August 2012, NPD stated. Men now represent more than 64% of home improvement sales, the company said.

Online sales now account for 6% of home improvement dollar revenues after they gained 16% in the 12 months ended August 2011 and another 35% in the past 12 months.