COVID rears its ugly head – this time upsetting DIY retail spending

The Delta variant of COVID-19 has up-ended high expectations of a solid economic return…

But this time, as opposed to last year, we’re seeing its negative effects in the seemingly pandemic-proof DIY space. Despite a five-quarter financial high, the numbers are now in and Lowe’s and The Home Depot are seeing data suggesting that the smooth boost they’ve been enjoying may be leveling out or even teetering back downward (time will tell). Both retail giants (and by suggestion, their peers in the space) expect future gains to be closer to pre-pandemic ranges with Supply Chain issues anticipated to continue holding back growth.

Lowe’s CEO, however, touts a newly observed norm in the home’s importance that he doesn’t see changing anytime soon. Always with a positive perspective, he implies that the pandemic (which has forced so many brick-and-mortar shoppers to sit at home and make their purchases online) has simultaneously forged a newly-invigorated love for home ownership and care. Something he feels will project forward and translate into levelled, even improved growth over time.

Both Lowe’s and The Home Depot express confidence in their data projections going forward… but where are your brand’s product projections? We can help set up your team with the tools to know. Daily inventory across retailers, regions, DOORS and by SKUs? Yeah, we’ve got you covered. Let’s talk… set up a quick walkthrough of our platform and review of your operations here.

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