As of 2024, Lowe's and its related businesses operated nearly 1,750 stores around the world. In that year, the average amount spent by consumers amounted to about 103 U.S. dollars, around 14 U.S. dollars more than the average spent in the Home Depot. How does Lowe’s compare to its competitors? As of 2024, Lowe’s was the fifth runner-up in terms of customer satisfaction alongside Menards, The Home Depot, Study Average, and Ace Hardware, the leading improvement store chains in the United States. In 2023, The Home Depot was the leading hardware and home improvement retail chain in the United States in terms of sales. Lowe’s took second place on this listing, putting it ahead of companies such as Ace Hardware and Menards. Home improvement retail in the U.S. In recent years, the U.S. home improvement industry has witnessed steady growth, and the trend is expected to continue in the near future. According to one forecast, homeowner improvements and repair expenditures are expected to reach roughly 509 billion U.S. dollars in the fourth quarter of 2025.

This statistic shows the average home improvement expenditure per owner in the United States from 1995 to 2015 with forecasts for 2020 and 2025. Homeowners spent on average 2,970 U.S. dollars on home improvements in 2015 and were projected to spend 3,250 U.S. dollars in 2025.

Remodeling expenditure in the United States amounted to 418 billion U.S. dollars in the third quarter of 2022 and is set to reach 445 billion U.S. dollars by the third quarter of 2023. This upward trend has been in place since 2015 but is expected to slow down in 2023. Why do homeowners invest in home improvement? Homeowners undertake home improvement projects for a variety of reasons, such as to increase value before sale, to improve the energy efficiency of their home, or to repair and upgrade their newly purchased, but older home. Approximately one quarter of homeowners who renovated in 2023 did so because they wanted to customize a recently bought house. How are they financing these projects? In 2023, most homeowners funded their renovations with cash from their savings, whereas three percent used an unsecured loan to do so. This indicates that home improvements are important enough for many Americans to prioritize saving for such projects.

This statistic shows the average home improvement spend per homeowner in the United States from 2014 to 2018. In 2018, homeowners spent an average of 7,560 U.S. dollars on home improvement, an increase of over nine hundred U.S. dollars on 2017 (6,649 U.S. dollars).

About half of U.S. consumers said they could live without purchasing home improvement products for a while in the event of recession in the United States. Only about one-fifth of consumers said they would home improvement products at the same rate regardless.

This statistic shows the distribution of consumer home improvement spending in the United States from 2005 to 2015, with forecasts for 2020 and 2025, broken down by age group. Homeowners between the ages of 35 and 54 were responsible for 40.1 percent of home improvement spending in 2015 and are projected to be responsible for 36.1 percent of spending in 2025.

This statistic shows the average home improvement spend per homeowner in the United States in 2017, by generation (in U.S. dollars). In 2017, baby boomer homeowners spent an average of 7,524 U.S. dollars on home improvement.

This statistic depicts average per owner home improvement spending in the United States from 2001 to 2015. In 2011, average per owner home improvement spending was about 2,370 thousand U.S. dollars.

In 2020, the average budget for home improvements among young people between 18 and 24 years in France was 601 euros. That year, the age group that was ready to spend the most on home renovations was people between 35 and 49 years with an average budget of 4,007 euros.

The statistic shows the DIY share of home improvement spending in the United States between 2001 and 2011, in percent. In 2011, 17.6 percent of total home improvement spending was taken up by DIY.

This statistic shows homeowners' home improvement spending plans in the United States for 2017. In 2017, 37 percent of U.S. homeowners planned to spend less money on home improvement over the next 12 months.

This statistic presents the consumer spending on home improvement (labor and materials) in Europe from the first quarter of 2015 to the first quarter of 2018, with forecasts for the following two quarters of 2018. Over the time period observed, spending on home improvement in Europe fluctuated, peaking in the third quarter of 2015, 2016 and 2017, at 105 billion euros, 104 billion euros and 94 billion euros, respectively. In the third quarter of 2018, home improvement spending was forecasted at 91 billion euros.

This data was provided by USP Marketing Consultancy.

This statistic depicts the share of consumer spending on home improvement in the United States in 2012, by store type. The HIRI study revealed that 80 percent of the respondents purchased home improvement products from home improvement centers.

This statistic shows the top home improvement challenges faced by homeowners in the United States in 2019. In 2019, 37 percent of respondents stated that they found the ability to pay for what they wanted to do to be the greatest challenge of home improvement.

The U.S. home improvement market fell by over 18.5 billion U.S. dollars between 2022 and 2023. However, it is expected to increase its market size again in the years after that. Overall new residential construction in the United States is expected to follow a similar growth trend.

A November 2020 survey conducted among consumers in Hong Kong revealed that more than one-fourth of respondents would likely spend less on DIY and home improvement projects in the following six months. Meanwhile, almost three out of five respondents in Hong Kong expected no changes in the next half year.

The real total consumer spending on household upkeep in Ecuador was forecast to continuously increase between 2024 and 2029 by in total 398.8 million U.S. dollars (+13.86 percent). After the ninth consecutive increasing year, the real spending on household upkeep is estimated to reach 3.3 billion U.S. dollars and therefore a new peak in 2029. Consumer spending, in this case concerning furnishings, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP).The shown data adheres broadly to group 05. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data has been converted from local currencies to US$ using the average constant exchange rate of the base year 2017. The timelines therefore do not incorporate currency effects. The data is shown in real terms which means that monetary data is valued at constant prices of a given base year (in this case: 2017). To attain constant prices the nominal forecast has been deflated with the projected consumer price index for the respective category.Find more key insights for the real total consumer spending on household upkeep in countries like Peru and Bolivia.

Nearly half of the surveyed Canadian homeowners planned to spend up to 10,000 Canadian dollars on home renovations in 2021. Nearly a quarter of homeowners had more expensive plans, with anticipated spending of up to 25,000 Canadian dollars. The most popular area to renovate was the outdoor space.

The real total consumer spending on household upkeep in El Salvador was forecast to continuously increase between 2024 and 2029 by in total 147.4 million U.S. dollars (+15.11 percent). After the ninth consecutive increasing year, the real spending on household upkeep is estimated to reach 1.1 billion U.S. dollars and therefore a new peak in 2029. Consumer spending, in this case concerning furnishings, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP).The shown data adheres broadly to group 05. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data has been converted from local currencies to US$ using the average constant exchange rate of the base year 2017. The timelines therefore do not incorporate currency effects. The data is shown in real terms which means that monetary data is valued at constant prices of a given base year (in this case: 2017). To attain constant prices the nominal forecast has been deflated with the projected consumer price index for the respective category.Find more key insights for the real total consumer spending on household upkeep in countries like Panama and Guatemala.

This statistic shows a ranking of the estimated real per capita consumer spending on furnishings, household equipment and routine maintenance of the house in 2020 in Latin America and the Caribbean, differentiated by country. Consumer spending here refers to the domestic demand of private households and non-profit institutions serving households (NPISHs) in the selected region. Spending by corporations or the state is not included. Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group 05. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data has been converted from local currencies to US$ using the average constant exchange rate of the base year 2017. The timelines therefore do not incorporate currency effects. The data is shown in real terms which means that monetary data is valued at constant prices of a given base year (in this case: 2017). To attain constant prices the nominal forecast has been deflated with the projected consumer price index for the respective category.The shown forecast is adjusted for the expected impact of the COVID-19 pandemic on the local economy. The impact has been estimated by considering both direct (e.g. because of restrictions on personal movement) and indirect (e.g. because of weakened purchasing power) effects. The impact assessment is subject to periodic review as more data becomes available.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).