Educating Advertisers About The 26 Million Consumers Making Home Improvements.

Although the recent spike of inflation might influence its growth rate, the home improvement market is still expected to record high revenues in 2023. According to Nielsen Scarborough, some 26.2 million Americans 18+ plan to do some form of home improvement in the next 12 months.

Slightly younger – almost two thirds are aged 18-49 – and with above average income, consumers aiming to make their homes more attractive and functional have larger household sizes and are more likely to have a pet other than a cat or dog. Women are slightly more likely to be calling the shots on home improvement projects than men.

With the nation’s housing inventory aging, many home buyers plan to do a certain amount of fixing up and renovating. Buying a home and improvements go hand in hand: home improvers are twice as likely to also be buying a new house, condo, or co-op. They’re also more likely to be getting married and having kids. On the other side of the coin, there’s also a sizable segment of home improvers who are making their last mortgage payment or refinancing their abode.

When it comes to media diets, Americans planning home improvements are big audio consumers. That may help explain why one of radio’s most reliable advertising categories is home improvement retailers. More likely to be heavy radio users than heavy TV viewers, these are avid podcast consumers, and more likely than the average to pay for a streaming audio subscription. Radio formats you’ll find them tuning to the most include urban contemporary, Spanish contemporary, rhythmic CHR, pop CHR, and alternative.

This is the seventh installment in Consumer iQ, a biweekly feature from Inside Radio that analyzes qualitative data from Nielsen Scarborough to help radio sales teams educate their clients and prospects about their own customers and strengthen their marketing partnerships. The goal is to help advertisers better understand their customers and how to target them and to help radio demonstrate the medium’s ability to engage these consumers.

Find out about the more than seven million Americans who plan to buy a house or condo in the next 12 months HERE. Discover the 18 million Americans looking to purchase a hybrid or electric vehicle, pickup truck or SUV in the next 12 months HERE. Learn about the more than 53 million Americans that plan to buy a new or used vehicle or lease one this year HERE. Find out about the 26.3 million Americans aged 18+ that plan to buy furniture in the next 12 months HERE, the 15 million in the market to buy a major appliance HERE, and the 12.7 million looking to switch home/rental insurance providers HERE.