Homeowners’ Shift Away From DIY Projects Dries Up Paint Profits. WSJ
This was a study conducted with the help of major paint suppliers, manufacturers, and big box hardware stores. The analysis concluded that PPG, Sherwin-Williams, Home Depot were all undergoing a shift in sales from DIY consumers to Professional painting companies. With stronger economic indicators, consumers simply have less time to tackle the types of DIY projects they had done in the past. As a downward trend line from 1980 to 2017 shows, the DIY market has steadily declined from 60% to currently 40%. Although this is a positive for the overall professional painting industry, there still remains many constraints on these businesses due to a serious lack of skilled labour shortages. Although there is a myriad of shows on HGTV that pay homage to the DIY home renovators, many of these programs may be based less on reality, and more for entertainment purposes.