ATLANTA, July 31, 2024 /PRNewswire/ — Market Force Information has released the results of their latest panel research study on home improvement retailers in the United States, revealing significant insights into consumer preferences and brand performance. Menards has emerged as the top performer, outshining competitors with impressive scores in multiple categories.
Consumer Insights:
Value for Dollar: The primary request from consumers is increasing value for their dollar, a metric where Menards excels. Menards landed first in this important measure with a top box score of 58.1% besting the average of 39.8% by a significant margin.Decision Drivers: Convenience, value, and prior positive experiences are the top factors influencing consumer choices. Home Improvement brands that have expanded their footprint have been rewarded by being accessible to consumers.Top Performer: Menards ranks highest in overall brand satisfaction, with notable achievements in cleanliness, variety of merchandise, and value for the dollar.Share of Wallet: Menards leads with a customer reported 77% of the next ten purchases allocated to the brand, surpassing Lowe’s and Home Depot, both at approximately 72%.
Brand-Specific Highlights:
Customer Assistance: Ace Hardware is distinguished for superior customer assistance, with 67.3% of visitors receiving help during their most recent visit. When associates recommend products, customers purchase the recommended items 86% of the time.Project Types: Repairs and maintenance are the most common projects, followed by garden and outdoor projects. Top purchase categories include Lawn and Garden, Hardware, Electrical, Paint, and Tools.Mobile App Usage: About 25% of home improvement shoppers use retailer-branded apps. Home Depot leads in mobile engagement with 38.7% of customers using their app, followed by Lowe’s at 30.7%.
Demographic Insights: The study featured a diverse cross-section of consumers, representing various ages and income levels, with 31% male and 69% female respondents. The majority are DIY enthusiasts, reflecting the growing trend of consumers taking on home improvement projects themselves.
Find out who reigns supreme in the home improvement market with this year’s panel study from Market Force Information.
Menards: A Leader in Home Improvement Founded in 1958, Menards is a family-owned company headquartered in Eau Claire, Wisconsin. Known for its slogan “Save BIG Money,” Menards offers a wide range of home improvement products at competitive prices. The company’s commitment to providing high-quality merchandise, exceptional customer service, and great value has cemented its reputation as a leading retailer in the industry. Menards’ success is driven by its core values of integrity, customer focus, and innovation, consistently delivering an exceptional shopping experience to its customers.
To access the home improvement study results please visit:
www.marketforce.com/home-improvement-research-2024-access
Brands and analysts interested in a full walkthrough of results can schedule a briefing at:
https://www.marketforce.com/schedule-a-briefing
Join our growing consumer panel at:
https://panel.marketforce.com/become-a-panelist
About Market Force Information
Market Force helps leading global brands improve the customer experience and operations at each location. Through an integrated services package including mystery shopping, site audits, contact center, social reviews, surveys, employee engagement and analytics Market Force drives consistent growth and profitability for its valued clients.
Market Force provides solutions for restaurants, big box and specialty retail, grocery, petro-convenience, hospitality, travel, telecom, technology, energy, education, health and wellness, movie studios and theatres, fitness, financial services, gaming, CPG, alcohol and tobacco, pharma, government agencies and more.
Learn more at:
www.marketforce.com
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SOURCE Market Force Information
