US & Global Economic Impact Analysis and Forecasts

Freedonia analysts and economists are sharing their insights on how major events are impacting different parts of the US and global economies.

Backyard Recreation: If You Can’t Go To an Amusement Park or a Resort, Build One

Backyard renovations are hot now… from DIY projects to major investments that require a contractor.

What’s behind it?

  • Staycations – if you can’t go on vacation because the destinations are closed or too risky, invest in a vacation space at home
  • Quarantine Stir Crazy – after months of feeling cooped up, people want to be outside where there is more space or at least a space that is not the same shared multipurpose family room. As they find they are using their yards more than ever, they are investing more in them
  • The Kids Are Bored – parents want to be able to provide something active and fun for kids who can’t see friends, go to camp, or play in sports leagues
  • Relaxation – consumers find being outdoors soothing in a stressful time; many engage in gardening to unwind
  • Safer Socializing – public health experts note that it’s safer to socialize outdoors than indoors, leading homeowners to create an improved space for hosting close family and friends
  • Lots of Free Time – if you aren’t going anywhere, you have time to spend on long-planned projects or tend plants that would otherwise require more time than busy families might otherwise have available
  • The New Family Dog – many families have adopted dogs in the last few months and have realized they need an outdoor space that accommodates their new member of the household

What are homeowners buying?

  • Grills and other cooking appliances
  • Outdoor seating in chat sets around a fire pit
  • Decorative plants and food plants
  • Hardscaping for patios, garden edging, and homemade fire pits
  • Decking and fencing
  • Water features including fountains, waterfalls, and ponds
  • Lighting
  • Generators
  • Pools and sprinklers
  • Sandboxes
  • Trampolines
  • Movie theater equipment

This renovation trend will likely shift to garages and other semi-enclosed spaces as the weather cools.

For more information and discussion of opportunities, see The Freedonia Group’s extensive collection of off-the-shelf research, including Landscaping Products, COVID-19 Economic Impact Report: Landscaping Products, General Purpose Lighting Fixtures, Global Pools & Spas, Live Goods: Plants, Trees, & Shrubbery, Lawn & Garden Consumables, Sheds & Outdoor Storage, Outdoor Kitchens, Outdoor Furniture & Grills.  Freedonia Custom Research is also available for questions requiring tailored market intelligence.

  Construction & Building Products      Consumer Goods      Covid-19