Brushing up: DIFM paint market
Oh, those DIFM homeowners.
They continue to use pro paint services for home renovations and refreshes.
Courtney Deemer, general manager, U.S. stores and The Home Depot, for the architectural coatings business in the U.S. and Canada at PPG, took time out to answer some questions about the flourishing of the Do It For Me, or DIFM, trend happening today and its relation to the paint market.
HBSDealer: First off, tell us a little about yourself and the markets you serve?
Deemer: “My role with PPG’s architectural coatings business is to oversee our retail stores network in the U.S., as well as our relationship with The Home Depot both in the U.S. and Canada.
“I stepped into this position from PPG’s industrial coatings business, where I served as the global business director for the powder coatings segment.”
HBSDealer: Generally speaking, what trends will drive the growth of DIFM in 2023?
Deemer: “According to a survey conducted by PPG in Q3 2022, pro paint contractors are averaging about 12 weeks of backlog, which is consistent with demand pros saw during Q2. This consistency indicates that overall demand for professional painting services remains high.
“As a result of the strong housing market experienced for the majority of 2022, homes in the U.S. have never been more valuable.
“Whether homeowners are looking to increase the value of their home before taking advantage of the ‘seller’s market,’ or if they’re looking to remodel their current homes because buying a new one is too expensive, pro painters, remodelers and other skilled tradesmen are in high demand to assist with DIFM projects.”
HBSDealer: How are pros handling all this growth?
Deemer: “Given the sizeable backlog reported by pro survey respondents we believe the backlog will continue into the early part of 2023 at least.
“To manage this backlog, pros are having to prioritize projects and figure out how to best leverage their crews. While we are seeing a resurgence in availability of paint and other building materials, the ongoing labor shortage continues to impact the industry.”
HBSDealer: Let’s get more specific with the paint segment; how big will the demand for painting jobs be?
Deemer: “While we can’t predict exactly how much demand for professional painters will grow in the coming year, there are plenty of factors that point to its continued growth.
“For example, home improvement supply constraints are continuously improving as we move further away from shutdowns incurred by the pandemic. Availability of supplies will make it easier for pros to access the materials they need to fulfill job requests in a timely manner.
“Additionally, the housing market remains strong, which is important as the strength of the housing market is likely to continue to incentivize homeowners to invest in upgrades that will increase the value of their property.
“Finally, while we’re cautiously moving into a post-pandemic world, the pandemic forever changed the amount of time that people spend in their homes, causing them to pay more attention to the spaces they are now living and working in.”
HBSDealer: What sorts of opportunities and challenges does the paint pro face?
Deemer: “In addition to potential backlogs of work, pros must also navigate several challenges including: Time constraints; finding the right product for the project; reliable labor due to ongoing labor shortages; job delays that are beyond their scope of control, such as delayed shipment of building materials; material shortages that are improving but not quite back to regular availability; and being experts in all paint-application circumstances.
“To navigate these challenges – specifically that of the need to be experts in all paint-application circumstances – there’s an opportunity for pros to rely on their paint partners, like PPG, to recommend the best product and way to apply so that they can finish their job most efficiently.”
