Consumers are tackling home improvement projects, but pros are hurting - Business Insider

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Lowe's CEO says shoppers are shelling out big for DIY home improvement projects, but contagion fears have meant hard times for pro contractors

But that boost in sales largely came from the do-it-yourself crowd, as shoppers felt reluctant to risk allowing professional contractors into their homes over contagion fears.

Home improvement relies on three major consumer groups: do-it-yourself shoppers, professional builders and contractors, and do-it-for-me customers. The DIY faction is the largest, but pro sales make up around a quarter of the North Carolina-based company's annual revenue. But that hasn't been the case for pro or do-it-for-me consumers. Ellison said that the pandemic has dampened purchasing habits from those two groups. Lowe's' installation businesses dropped down by half in terms of revenue.

 

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