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Outdoor Power Equipment - US - March 2018

Outdoor Power Equipment - US - March 2018

"Despite outdoor power equipment being a large and costly purchase, adults are more likely to own equipment than rent. In addition, the time-saving benefits from hiring a professional service may create challenges for the market. Future growth may hinge on consumer interest in sustainability, emphasizing growth potential for eco-friendly power equipment options."

- Olivia Guinaugh, Home & Personal Care Analyst

This Report looks at the following areas:

Consumers are unwilling to pay more for product innovations
Time-saving benefits offered by professional services may challenge market
Declining homeownership rate can temper category growth


OVERVIEW
What you need to know
Definition
EXECUTIVE SUMMARY
Market trends
Figure 1: US consumer sales of outdoor equipment and supplies, 2008-17
The issues
Figure 2: Interest in select product innovations, December 2017
Figure 3: Select attitudes toward hiring professionals to care for outdoor space, December 2017
Figure 4: Homeownership rate, 2006-16
The opportunities
Figure 5: Personal usage of any outdoor power equipment (net), any personal usage (net), by age and gender, December 2017
Figure 6: Attitudes toward electric outdoor power equipment, December 2017
Figure 7: Consumer Sentiment Index, January 2007-December 2017
What it means
THE MARKET
What You Need to Know
Outdoor equipment market is on growth trajectory
Professional services stir up market competition
Economic trends encourages market; population and homeownership declines temper growth
Market Trends
Outdoor equipment market is growing
Figure 8: US consumer sales of outdoor equipment and supplies, 2008-17
Market Perspective
Professional services stir up market competition
Figure 9: Outdoor equipment usage, hire a professional service, December 2017
Market Factors
Challenges arise as the home ownership rate continues to decline
Figure 10: Home ownership rate, 2006-16
Positive economic indicators encourage category
Figure 11: Consumer Sentiment Index, January 2007-December 2017
Decline in key male population groups may lead to market struggles
Figure 12: Male population by age, 2013-23
KEY PLAYERS
What You Need to Know
Seasonality plays a role in retailing; adults are drawn to in-store experiences
Shoppers are limited in online channel; riding mower usage is low
Electric powered equipment is taking the spotlight
What’s In?
Seasonality plays a role in retailing, opportunities to reach shoppers year-round
Figure 13: Average read rate of acquisition emails from Lowe’s, Menards, and The Home Depot, January-December 2017
Shoppers prefer to buy equipment in-store
What’s Out?
Online used for planning, but not purchasing
Riding mowers are convenient to use but inconvenient to own
Figure 14: Ownership of push mowers and riding mowers, December 2017
What’s Next?
Eco-friendly power equipment is taking the spotlight
THE CONSUMER
What You Need to Know
More adults own vs rent
In-store plays important role in purchasing decisions
Adults rely on a variety of factors when buying or renting equipment
Adults enjoy taking care of their outdoor space
Electric equipment has potential; professional services create barriers
Challenges arise as adults are unwilling to pay more for innovations
Power Equipment Usage
More adults own vs rent
Equipment for basic lawn maintenance drives ownership
Figure 15: Usage of outdoor power equipment, own or rent, December 2017
Personal usage is driven by men aged 18-54
Figure 16: Usage of select outdoor power equipment, any personal usage (net), by gender and age, December 2017
Equipment ownership is driven by parents and adults under 55 years old
Figure 17: Ownership of select outdoor power equipment, by age and parental status, December 2017
Region influences equipment ownership
Figure 18: Ownership of select outdoor power equipment, by region, December 2017
Most homeowners own outdoor power equipment
Figure 19: Ownership of select outdoor power equipment, by primary residence, December 2017
Personal usage of equipment is less common for Black adults
Figure 20: Usage of select outdoor power equipment, any personal usage (net), by Black race, December 2017
Shopping Behaviors
In-store plays important role in purchasing decisions
Figure 21: Outdoor power equipment shopping behaviors, December 2017
Men invest time in selection process
Figure 22: Select outdoor power equipment shopping behaviors, by gender, December 2017
Young adults are engaged when shopping for equipment
Figure 23: Select outdoor power equipment shopping behaviors, by age, December 2017
Purchase Influencers
Adults rely on a variety of factors when buying or renting equipment
Figure 24: Purchase influencers sought in outdoor power equipment, December 2017
Ease-of-use and durability are prioritized, but brand is important too
Figure 25: TURF analysis – Purchase influencers, December 2017
Women seek user-friendly products, while brand influences men
Figure 26: Purchase influencers sought in outdoor power equipment, by gender, December 2017
Older adults prioritize function; secondary factors influence young adults
Figure 27: Select purchase influencers sought in outdoor power equipment, by age, December 2017
Hispanics and young adults share similar purchase influencers
Figure 28: Select purchase influencers sought in outdoor power equipment, by Hispanic origin, December 2017
Attitudes and Behaviors toward Outdoor Space
Adults enjoy taking care of their outdoor space
Figure 29: Attitudes toward outdoor space, December 2017
Men and women both enjoy taking care of their outdoor space
Figure 30: Select attitudes toward outdoor space, by gender, December 2017
Parents and young adults enjoy their outdoor space
Figure 31: Select attitudes toward outdoor space, by parental status and age, December 2017
Hispanic and White adults are engaged in category
Figure 32: Select attitudes toward outdoor space, by race and Hispanic origin, December 2017
Attitudes toward Outdoor Power Equipment
Electric equipment has potential; professional services create barriers
Figure 33: Attitudes toward outdoor power equipment, December 2017
Men’s attitudes align with higher engagement
Figure 34: Select attitudes toward outdoor power equipment, by gender, December 2017
Safety and environmental concerns drive differences across age groups
Figure 35: Select attitudes toward outdoor power equipment, by age, December 2017
Hispanics have a positive outlook on electric equipment
Figure 36: Select attitudes toward outdoor power equipment, by Hispanic origin, December 2017
Interest in Product Innovations
Challenges arise as adults are unwilling to pay more for innovations
Figure 37: Interest in product innovations, December 2017
Both men and women aged 18-44 express interest in innovations
Figure 38: Interest in product innovations – Interested and willing to pay more, by age and gender, December 2017
Hispanics report above-average interest in product innovations
Figure 39: Interest in select product innovations – Interested and willing to pay more, by Hispanic origin, December 2017
APPENDIX
Data Sources and Abbreviations
Data sources
Abbreviations and terms
The Market
Figure 40: US consumer sales of outdoor equipment and supplies, at inflation-adjusted prices, 2008-17
RESEARCH METHODOLOGY
US Research Methodology
Consumer research
The Mintel fan chart

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