The COVID-19-induced shelter-at-home orders fuelled the need for home improvement by housebound Americans, thereby driving demand for the said industry.
The home improvement space includes Décor and indoor garden, Painting and wallpaper, Tools and hardware, Building materials, Lighting et al. Apart from essentials, retailers in this industry are witnessing solid demand for gardening and other in-house activity-related products.
Although states are reopening and people are reporting back to work, the emergence of new cases triggers the fear of a second wave, only to remind us that the deadly virus is not going to subside anytime soon. Rather, the pandemic threat keep people confined to their homes, spurring the obvious requirement for home improvement products.
One of the leading industry players, management at Lowes disclosed that it saw very strong COVID-related demand for cleaning products along with other necessary home appliances, such as refrigerators, freezers and DIY home repair products. As