the home improvement boom

Home superstores are the top destination for 55Vo of consumers shopping for home items and supplies, up from 38Vo last year, according to the annual American Express Retail Index survey.

Hardware stores (18%) were second, followed by lumber yards (16%o), department stores (l2%o) and home furnishings/decorating stores (l l%). The top reasons for choosing a home retailer were: fair prices (69Vo), selection (SOVo), quality merchandise (49V0), helpful, knowledgeable salespeople (23Vo), and convenient location (2l%o).

Overall. 3lVo of consumers are planning some form of home improvement this year. Top projects include renovatior/remodeling (3380), interior decorating (3lVo), landscaping (l8%o), mandatory maintenance (l8%o), gardening (16%o), expansion (l2%o), exterior decorating (12Vo), and restoration (4Vo).

A change in personal taste was cited by 42Vo as their primary motivation for making home improvements, far ahead of maintenance (32Vo), need for more space (llVo), and increasing their home's resale value (lOVo).

More than one-third surveyed (34V0) say they plan to refurnish at least one room this year. Most common is the living room (46Vo), followed by the master bedroom (22Vo), dining room (l1%o), den/family room (16%o), kitchen (I2Vo), child's bedroom (87o), guest bedroom (7Vo), bathroom (5VoVo), basement (4Vo), and sun room/porch (3Vo).

Two-thirds of consumers (66Vo) say they plan to undertake home improvement projects themselves. However, when asked if cost were no object, 52Vo would hire an outside contractor, while only 35% would still do the work themselves. The number of women who said their spouse would be performing the work this year (44Vo) dropped to only l2Vo when asked the same question.

While men are the most likely doit-yourselfers (78Vo), more than half of women surveyed (54Vo) say they are planning to do the work themselves. Nineteen percent say they are getting help from friends, neighbors and relatives, while 26Vo plan to hire a profes sional contractor.

One in five say they will purchase special tools or equipment for their project.

Consumers are setting higher budgets this year compu[ed to 1996, with the average budget set at $2,660. Close to half (45Vo) of those planning home improvements in 1997 say they will spend $1,000 or more, tp 7Vo over last year.

Overall budgets are based on planned projects, with l9Vo saying they will spend up to $500, and l6vo budgeting $5,000 or more, up 5Vo from 1996. In addition, 1997 saw a 6Vo shift away from cash to credit cards, which was cited by lSVo of respondents as the way they would pay for home improvement expenses.

Part of the attraction of credit cards is the growing number of consumers enrolled in credit card reward programs, as nearly one in five credit card users (l9%o) say having a credit card linked to a reward program influences their usage ofthat card.

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Insulation Climbing 5%

Global demand for thermal and thermo-acoustic insulation materials will rise an average 5% annually to over $17 billion in the year 2000, according to the Freedonia Group.

The growth will be propelled by the development of more efficient and environmentally friendly products and by the diffusion of new materials into the product mix.

Foamed plastics will enjoy the strongest gains, comprising over 40% of world insulation value in the year 2000, or almost $7 billion. Still, fiberglass will continue to lead the world insulation market, despite below average growth.

Wedlock And Hammers

Bells will be ringing for two Hardware Wholesalers, Inc. retail members May 17 at the buying group's annual spring market.

J. Johnson. owner of The Hardware Store Do-it Center, Maple Valley, Wa., and Karen Wildenberg, manager of KJ Do-it Best Rental Center, located next door, will be married in front of their fellow dealers and HWI staff during the show in Indianapolis, In. A reception will follow immediately.

"With my owning the hardware store and Karen managing the rental center, most of our friends seem to be in this business," said Johnson, who met his fiancee through her brother, a representative for an HWI vendor. "It seems natural to have the wedding at the market."

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HomeBase Calls Off Builders Square Merger

Waban Inc. has pulled out of a plan to merge its HomeBase division with Kmart's Builders Square division.

Waban president and ceo Herbert J. Zarkin said talks "have not produced an agreement that is acceptable to all parties."

Waban and Kmart would have sold the chains to investment banker Leonard Green & Partners LP, Los Angeles, Ca., for cash and stakes in the new company.

The deal would have produced the nation's third-largest home center chain with about 250 stores in 25 states and nearly $4 billion in annual sales.

Waban will proceed with its previously announced plan to spin off its BJ's Wholesale Club division, while Green will continue pursuing other options for Kmart, which has been trying for years to unload the moneylosing Builders Square.

A last resort is closing the chain, for which Kmart last year took a $385 million fourth-quarter charge against earnings to discontinue.

Internet Site For Dealers

A new Web site offering listings of building material merchants, manufacturers and products is now on line.

Designed by Triad Systems Corp. as a resource for lumber and building material dealers, www.homeimp.com also features links to other industry sites, a hot tip of the week, and the Idea Cafe, an interactive chat line.

Depot Drops Certified Shelfs

Home Depot has stopped carrying a line of certified shelving supplied by Collins Pine Co., Chester, Ca.

Collins, one of the first U.S. operations to be environmentally certified (see story, p. l4), had been supplying the products to Home Depot for three years.

Collins Pine v.p. of mktg. Wade Mosby denied the Home Depot's accusation of declining quality, and blamed the chain's explosive growth. "Home Depot's a good company, but they're growing fast," he said. "It's either their way or the highway."

Panel Associations Merge

The 37 -year-old National Particleboard Association and the 2O-year-old Canadian Particleboard Association have merged into the Composite Panel Association.

The group, consolidated in response to members' growing multinational interests and a changing marketplace spurred by NAFTA and GATT, consists of 31 producers representing over 85Vo of U.S./Canadian particleboard and MDF production. Membership is also now open to composite panel producers in Mexico.

CPA will maintain a principal office in Gaithersburg, Md., and a Canadian office in Montreal, Quebec.

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