Home Improvement Spending/Work From Home

In the third quarter of 2020, digital sales rose 80% at Home Depot and Lowe’s experienced a 106% year-over-year increase. For many retailers, the significant shift to online spending resulted in online sales as a percent of total sales increasing 4-5 times the rate pre-COVID. Results from our Home Retail Consumer Monitor provide insights into the shift to online sales for home improvement products and suggest the trend will continue post-pandemic.