The Square is a centralized hub where we can bring our free tools and content to the wider location analytics community.
2020: Q4 Quarterly Index
Quarterly Index 2020: Q4
If there was a sector that most benefited from the unique retail environment created by the pandemic, it was the home improvement and home goods sector. Essential retail status for home improvement brands added fuel to a DIY surge that brought in early visits. Compounding this, more visitors were forced to stay at home enabling them to notice all the things they’d want to upgrade. Finally, the wider trend of economic uncertainty gave added value to home upgrades as opposed to new homes entirely. And the result was impressive.
Analyzing dozens of brands including:
Visits Still Surging
While the initial surge in Q2 made sense and the continuation in Q3 drew praise, the ability to sustain visit growth of that magnitude into Q4 was uniquely impressive. The wider group measured saw visits up 12.1% in Q4 – even higher than the surge in Q2 during the sector’s normal seasonal peak.
Visits Outpace Visit Duration
It’s one thing to explain visit declines with visit duration increases like in other sectors, but home improvement and home goods may be seeing the opposite trend. More people are coming more often and this is leading to slight decreases in visit duration. While the overall growth and strength is still there, it does show the potentially inverse relationship between visits and visit duration.
Good Days for Home Improvement
With the surge in visits, and more time to make those visits because of schedule flexibility, it would have been fair to expect weekdays to show more strength in Q3 and Q4. The strength of the weekend shows just how significant the boost coming from DIY and home upgrade individuals has been, as opposed to seeing the bump primarily from professionals.
Kings of the Mountain
With visits rising 38.5% year over year in Q4, it is no surprise that Floor & Decor announced plans to expand its retail footprint. Alongside this massive surge, Tractor Supply strengthened its claim as a home improvement leader, while Home Depot and Lowe’s saw visits surge deep into the year.
If any retail sector ‘won’ 2020, it was the wider home improvement and home goods space. The top brands within the segment saw visits surge driving top performers to huge offline retail results. There are indications that the trend could continue. Visitors didn’t just see more visits to the top players, but brands in the space saw success across the board, indicating a much wider and more significant trend.
Explore All Indexes:
More Mobile Location Intelligence Insights
Placer.ai Free Platform
Uncover the true story of any location