Q1 Financial Reporting Confirms Paint Is a Highlight in This Challenging Home Improvement Environment

Paint. That’s what’s in right now.

Why?

• It’s easy – most people don’t need to hire a professional to paint an interior space.
• The impact is fast – most rooms can be painted in a few hours.
• A color change can freshen a space at a lower price than buying new furniture or flooring.

Masco noted this trend as well in its Q1 2020 earnings call transcript on April 29. The company’s president and CEO Keith Allman addressed the probable reasoning behind this bright spot:

• “As shelter-in-place orders were issued throughout March, we saw a significant acceleration in the sale of Behr paint as more and more do-it-yourselfers took advantage of the time at home to undertake painting projects.”
• “Homeowners may take on more do-it-yourself projects themselves, especially easy to do projects such as painting as opposed to having other people in their homes.”

For more information, see The Freedonia Group’s coverage of the Global Architectural Paint industry.

For detailed information about the effects of the COVID-19 pandemic, see The Freedonia Group’s:

• COVID-19 Market Impact Analysis report
• a growing catalog of industry-specific COVID-19 Economic Impact Reports
• macroeconomic indicator updates in COVID-19 US Economic Impact March 2020 Update and COVID-19 Global Economic Impact March 2020 Update
• coronavirus-related analysis incorporated into all reports published in April and beyond
• free macroeconomic trends talk with The Freedonia Group’s chief economist

Freedonia Custom Research is also available for questions requiring tailored market intelligence.