ALMANAC: CLOSETS & HOME STORAGE
Sales of home organization products are projected to rise
3.8% rise annually through 2021 to $11.8 billion, according to
research by The Freedonia Group. The study, Home Organization
Market in the U.S., finds consumers are increasingly adding modular units, such as bins and baskets, into closets and garages.
With regards to closets, what other trends do they crave?
According to Organized Living, homeowners want: his and
her closets; white finishes; no more dressers; maximized
closet space, including wall-to-wall shelving; and adjustability
- the ability to add accessories and move systems as needed.
A recent survey of 1,000 American women
10% are depressed each
time they open their closet
1 in 4
feel their closet
Can’t find an
item in their
closet at least
once a month
According to a ClosetMaid survey, while the average American woman’s closet houses 103 items, 47% said they struggle
to pick an outfit before heading to work, and 1 in 9 have been
late to work because they couldn’t find anything to wear. Not
surprisingly, 57% said having an organized closet would making finding what they want easier and faster.
Market Data Sources: The Freedonia Group, Statista, Woodworking Network/Closets &
Organized Storage, ClosetMaid, Organized Living, Closet Factory, Harvard Joint Center for
Housing Studies, Houzz Category: Closets & home organization includes: walk-in and reach-in closets, garages, mudrooms, pantries, laundry rooms and related products.
U.S. home storage demand: room & product
Source: The Freedonia Group, 2016 research study. Other Products includes shelving, hanging storage and other accessories.
How much did you spend to renovate?
While the median spending on home offices, dining
rooms and closets has fluctuated up or down $200 to
$300 year over year, spending on living/family rooms
Guest/Otherbedroom:$1,000 Homeoffice:$1,200 Diningroom:$1,200
and guest/other bedrooms has been stable.
In 2017, the median amount homeowners
spent to remodel:
Although spending in the remodeling market is slowing a bit due to
the rise in interest rates and flat home sales, homeowner spending
on improvements and repairs is still expected to reach $350 billion
in 2019, according to the Harvard Joint Center for Housing Studies.
Source: 2018 Houzz & Home: Overview of U.S. Renovation in 2017 and 2018