NPD Reports Signs Of Economic Growth For DIY

The NPD Group reported that it is seeing the first signs of economic recovery in home improvement trends.
In the latest 12-month reporting period, ending March 31, 2010, several ‘do-it-yourself’ home improvement categories are experiencing double digit dollar sales increases, said NPD. Many categories that saw declines in sales between 2007 and 2008, or merely managed to hold their ground, are now exceeding the sales seen two years ago, prior to the economic decline.
NPD reported that the Garage Storage/Organization category grew 43.6% April 2009-2010 versus April 2008-2009, with dollar sales reported at $371,123 for April 2008-2009 and $533,010 from April 2009 to March 10.
“In these challenging economic times, seeing growth in ‘do-it-yourself’ home improvement categories spells an opportunity for manufacturers and retailers to maintain a competitive edge in this evolving marketplace,” said Mark Delaney, director/home improvement and major appliance businesses for The NPD Group, Inc.