Company shares insights derived from SKU-level data on consumer spending trends related to home improvement during pandemic
Sensibill, the leading provider of everyday financial tools and SKU-level insights, shares this month’s Barcode Report on home improvement trends, leveraging item-level receipt data to deliver the world’s deepest and most relevant insights into everyday consumer spending.
The Barcode Report transforms the SKU-level data derived from digital receipts into consumable and actionable facts, providing organizations with rich information about consumers’ spending habits, life stages and psychographics, such as values and lifestyles. In this report, Sensibill focuses on both U.S. and Canadian consumer spending behaviors around home improvement projects, while also leveraging the data to predict future trends. The company looked across millions of receipts, each from Canada and from the U.S. It defined pre-pandemic spending as 2019 through the end of February 2020 and the onset of the pandemic as March 2020 through March 2021.
U.S. Key Takeaways:
With people spending more time at home, the average consumer spend on home renovations has increased by 14% since the pandemic started.
Home cooking has been on the rise since the pandemic’s onset, and so have kitchen upgrades. Consumer spend on kitchen renovations has nearly quadrupled since the start of the pandemic.
Average consumer spending on cleaning and decluttering increased 110% since the pandemic…