November, 2020

Are consumers pumping the breaks on home renovation?

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Lowe's (LOW)

Home Depot is trading ~3% lower today after a strong report on fears that pandemic growth isn’t sustainable.

Lowe’s and Home Depot have similar trends in consumer demand, with Home Depot maintaining a slight edge among consumers.

These Purchase Intent mentions are in lockstep with macro home improvement trends.

Home Renovations mentions fell 21% QoQ this Fall after displaying incredible growth in the Spring and Summer, and remain 34% higher YoY.

Quarterly mentions of home renovations

Looking ahead: Lowe’s and Home Depot are deploying extended Black Friday deals in the month of November and we’re watching demand begin to creep higher. We’ve got a close eye on Holiday execution through early December.

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