With COVID-19, Consumers are Jump-Starting Home Improvement Painting Projects, J.D. Power Finds
As U.S. residents continue to shelter in place as a result of the COVID-19 pandemic, many have started a home improvement project. Along with the J.D. Power 2020 Paint Satisfaction Study,SM released today, results of a J.D. Power pulse survey finds that over one-third (35%) of people are in the process or are planning to do a home improvement project over the next three months. This includes a 40% increase specifically due to the unexpected additional time at home. With people being restricted to their home, painting has become the top home improvement project planned with 44% indicating they have painted recently or will be during the next three months.
“Having a pulse survey complementing the Paint Satisfaction Study brings additional insights which have enabled us to bring greater context to the voice of the customer and assist manufacturers and retailers during this difficult time,” said Christina Cooley, director of the @home practice at J.D. Power. “Home improvement do-it-yourselfers are increasingly looking to websites to help them find the best paint products to deliver on their vision, then looking to retailers for guidance to ensure success.”
While COVID-19 is putting many industries at risk, the paint industry—as part of homebuilding and construction—is positioned to be less affected than others, according to Moody’s (moodys.com/coronavirus). In fact, there is evidence from the J.D. Power pulse survey that paint and stain purchases could potentially exceed typical Q2 trends. The brands and retailers that will most benefit from this silver-lining opportunity are the ones that differentiate in delivering an exceptional customer experience.
Study Rankings
Sherwin-Williams ranks highest in the interior paint segment with a score of 867. Benjamin Moore (863) ranks second and BEHR (860) ranks third.
Sherwin-Williams ranks highest in the exterior paint segment with a score of 876. Benjamin Moore (861) ranks second.
Sherwin-Williams ranks highest in the exterior stain segment with a score of 850. Rust-Oleum (843) ranks second and BEHR (839) ranks third.
Sherwin-Williams ranks highest in the paint retailer segment with a score of 868. Benjamin Moore Paint Stores (856) ranks second and Menards (845) ranks third.
The 2020 Paint Satisfaction Study is based on responses from 5,631 customers who purchased and applied interior paint, exterior paint and/or exterior stain in the past 12 months. The study was fielded in January 2020.
For more information about the U.S. Paint Satisfaction Study, visit http://www.jdpower.com/business/resource/paint-satisfaction-study.