Abstract
The American housing sector boomed over the last five years as consumers took
advantage of rising incomes, low interest rates and creative financing to
purchase homes. Home ownership rates are at their highest level in history,
with nearly 69% of Americans owning homes in 2006, up from about 64% in 1990.
Housing takes the biggest bite out of consumer spending by far, accounting for
about a third of the total. Spending on household furnishings in particular is
greater than expenditures for personal care products and services, and
education. It' s about equal to apparel and nearly as high as entertainment
expenditures. Household furnishing expenditures grew at a higher rate than
total housing costs, healthcare, and entertainment, and at about the same rate
as personal care products and services.
Increasingly, the garage and storage sheds have become the beneficiaries of
this spending. According to this new SBI report, Garage and Storage Trends in
the U.S., the market for garage and shed storage is robust, reaching $1.5
billion in 2006, representing an 11% CAGR since 2002.
This second edition of the popular SBI report examines the trends to market
growth fueling spending on garages and sheds - in particular, garages aren' t
just for cars anymore. Home organization is big, and companies from GarageTek,
California Closets, Newell Rubbermaid and Whirlpool to retailers such as Home
Depot and Sears are getting into the act so that Americans can clean up their
(garage) acts.
Scope and Methodology
The information contained in this report was obtained primarily from secondary
research. Research on companies, distributors and retailers was conducted to
obtain information on new product trends, marketing programs, distribution
methods, and consumer trends related to the garage and shed storage market.
Secondary research entailed data gathering from relevant sources, including
consumer and industry publications, newspapers, government reports, trade
association reports, financial reports, company literature, and corporate
annual reports.
Simmons Market Research Bureau (SMRB) provided consumer behavior data.
What You' ll Get in this Report
Garage and Storage Shed Trends in the U.S. makes important predictions and
recommendations regarding the future of this market, and pinpoints ways
current and prospective marketers can capitalize on current trends and
spearhead new ones. No other market research report provides both the
comprehensive analysis and extensive data that Garage and Storage Shed Trends
in the U.S. offers. The report addresses the following segments:
- The Market (including market size and composition, and projected
market growth)
- Competitive Profiles (of the mainstream marketers, specialists and
up-and-coming niche players, and analyses of the products they market)
- Market Dynamics
- End-Users
- The Products
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