by Freedonia Industry Studies
November 25, 2020
Last week’s release of the October retail sales report showed yet another month of growth for building material and garden equipment suppliers, with monthly sales up 3.6% from September to $39.4 billion. These gains can be attributed to a number of sources, key among them:
Compared to last year, retail sales by building material distributors and garden equipment and suppliers are more than 13% higher; however, there are concerns that this sales growth might decline through the rest of year. Retailers must be wary of:
Even with the prospect of a slowdown – or even a decline – in sales in November, building materials retailers are poised for an outstanding year of sales growth, despites the challenges posed by the coronavirus pandemic.
For more information and discussion of opportunities, see The Freedonia Group’s extensive collection of off-the-shelf research, particularly in the Construction and Building Products. Freedonia also offers an expanding catalog of COVID-19 Economic Impact reports, which highlight how various industries are responding to the current crisis with a comparison to recent recessions. Freedonia Custom Research is also available for questions requiring tailored market intelligence.