Each month, Bespoke runs a survey of 1,500 US consumers balanced to census. In the survey, we cover everything you can think of regarding the economy, personal finances, and consumer spending habits. We’ve now been running the monthly survey for more than two years, so we have historical trend data that is extremely valuable, and it only gets more valuable as time passes. All of this data gets packaged into our monthly Bespoke Consumer Pulse Report, which is included as part of our Pulse subscription package that is available for either $39/month or $365/year. We highly recommend trying out the service, as it includes access to model portfolios and additional consumer reports as well. If you’re not yet a Pulse member, click here to start a 30-day free trial now!
Our Consumer Pulse Report tracks a few different metrics across the home improvement space. One of those involves whether consumers tackling a project are doing it themselves or hiring an outside contractor. Recently, the percentage of do-it-yourselfers has declined to a series low while the percentage of consumers hiring someone has increased to a series high. Although a full two-thirds of consumers are still doing home improvement projects themselves, it is worth noting that this shift is representative of the elevated levels of spending on discretionary items and confidence towards personal finances. The increase in hiring outside help suggests that consumers are likely spending on more complicated projects and/or have enough disposable income to not be bothered doing it themselves.
To track additional consumer sentiment trends, click here to start a 30-day free trial to our Pulse service now!