Room for growth: Rising residential construction values in Wisconsin have boosted revenue

The Home Improvement Stores industry in Wisconsin increased steadily over the five years to 2018. Operators primarily cater to professional contractors, do-it-yourself consumers and do-it-for-me consumers. Retailers offer a broad range of products that are used in new construction, as well as home improvements. The wide variety of products and markets protects home improvement stores from the volatility of the housing market. Over the five years to 2018, industry revenue in Wisconsin is anticipated to increase at an annualized rate of 6.2% to $4.4 billion, including a projected 0.4% growth in 2018 alone. This growth has been a result of the strong growth in the value of residential construction in Wisconsin, which is anticipated to increase at an annualized rate of 10.5% to $4.1.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 13-18
6.2%
Forecast Growth 18-23
Profit
Employment
14,421
Businesses
197

Industry Threats & Opportunities

  • State demand is affected by the value of residential and nonresidential construction

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    Industry Report - Industry Locations Chapter

    In Wisconsin, the geographic spread for the Home Improvement Stores industry generally follows trends in the overall population. For this reason, the Southeast accounts for 26.5% of industry establishments and 35.4% of the state's population. Milwaukee County is located in this region and accounts for the largest share of both industry establishments and population out of all counties, at 11.0% and 16.5%, respectively. Milwaukee is the largest city in the state and therefore many home improvement operators look to establish store locations in this area to take advantage of the urban and suburban residential markets. While only accounting for 17.5% of Wisconsin's population, the Northeast region is the second-most concentrated region, accounting for 23.5% of industry establishments. The..

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    Additional Insights for the Home Improvement Stores in Wisconsin Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Home Improvement Stores in Wisconsin Industry are

  • Having a loyal customer base
  • Having a wide and expanding product range
  • Ability to control stock on hand
  • IBISWorld analysts also discuss how external factors such as Per capita disposable income in Wisconsin and Private spending on home improvements in the Home Improvement Stores in Wisconsin industry impact industry performance..

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    What's in this report

    What is the Home Improvement Stores in Wisconsin Industry?

    Operators in the Home Improvement Stores industry sell a range of home repair and maintenance goods, such as hardware, tools, electrical goods, lumber and structural material for construction and renovations. Hardware stores, which are generally smaller and consequently sell fewer items, are excluded from this industry. Home improvement companies purchase goods from manufacturers and wholesalers, and sell them to end users, such as do-it-yourself consumers and professional contractors.

    Industry Products
  • Lumber and other structural building materials
  • Household appliances, kitchen goods and housewares
  • Hardware tools, plumbing and electrical supplies
  • Lawn, garden and farm equipment supplies
  • Industry Activities
  • Retailing plumbing goods
  • Retailing electrical goods
  • Retailing tools
  • Retailing housewares
  • Retailing hardware
  • Retailing lawn and garden supplies
  • Retailing kitchenware
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Per capita disposable income in Wisconsin
  • Private spending on home improvements
  • Number of households
  • Housing starts in Wisconsin

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Home Improvement Stores in Wisconsin Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Home Builders
  • Carpenters
  • Consumers

  • Key Selling Industries
  • Electrical Equipment Wholesaling
  • Farm, Lawn & Garden Equipment Wholesaling
  • Home Furnishing Wholesaling
  • Lumber Wholesaling
  • Paint Wholesaling
  • Plumbing & Heating Supplies Wholesaling
  • Tool & Hardware Wholesaling

  • Products & Services
  • Lumber and other structural building materials
  • Lawn, garden and farm equipment supplies
  • Household appliances, kitchen goods and housewares
  • Hardware tools, plumbing and electrical supplies
  • Chart: Home Improvement Stores in Wisconsin Industry Products and Services Segmentation

  • Major Markets
  • Professional contractors
  • Do-it-yourself customers
  • Chart: Major Market Segmentation for the Home Improvement Stores in Wisconsin Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Home Improvement Stores in Wisconsin

  • Basis of Competition
    Barriers to Entry
    Menard Inc., True Value Company, The Home Depot Inc., Lowe's Companies Inc.,
  • Table: Menard Inc. - financial performance
  • Table: True Value Company - financial performance
  • Table: The Home Depot Inc. - financial performance
  • Table: Lowe's Companies Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Home Improvement Stores in Wisconsin Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Home Improvement Stores in Wisconsin Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Housing Starts in Wisconsin (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Do-It-For-Me (Difm)
  • A category of customers who purchase materials themselves and hire third parties or professionals to complete the projects.
  • Do-It-Yourself (Diy)
  • A category of customers that includes homeowners who purchase products and complete their own projects.
  • Point-Of-Sale (Pos)
  • A system used at checkout in retail stores using computers and cash registers to capture transaction data at the time and place of sale.
  • Professional Customers
  • Professional remodelers, general contractors, repairmen and tradesmen.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Home Improvement Stores in Wisconsin can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Home Improvement Stores in Wisconsin:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Home Improvement Stores in Wisconsin market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Home Improvement Stores in Wisconsin, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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