Areas of Expertise
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End-User Usage, Attitudes, Behaviors, Segmentation
Brand Image, Position, Extendability
Market Size, Channel Distribution, Brand Share
Product Development, Pricing Elasticity
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| About Us |
The Farnsworth Group is the premier custom market research and strategic consulting firm focused on serving manufacturers and retailers in the building material, hardware and home improvement industries. For 25 years, The Farnsworth Group has provided actionable insights based on primary research and industry expertise to help clients evaluate market performance, monitor changing market conditions, identify new opportunities and identify strategy direction and adjustment. To learn more contact us at [email protected] or visit TheFarnsworthGroup.com |
| New Industry Report |
Each year we conduct several public reports on relevant industry topics. We have just completed a study on channel preferences among DIYers and Pros. Understand where consumers go, why and what share of wallet their primary v. secondary supplier is getting.
Please contact us for your report copy.
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Farnsworth Group clients sweep awards at the National Hardware Show
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The Farnsworth Group would like to congratulate this year's winners of prestigious Golden Hammer and Top Gun awards. Presented at the recent National Hardware Show, these honors are awarded to the best of class in the industry.
Golden Hammer awards winners included:
Rocky's Ace Hardware, Springfield MA: Retailer of the Year award winner
Builders, Kearny NE: Tools of the Trade award winner
Ray Griffith, Ace Hardware Corp.
Top Gun award winners included:
Tim Buchheit, Buchheit, Perryville, MO
Bruce Ellis, Builders Do-it Center, Roswell, NM
George Preckwinkle, Bishops Ace Hardware, Springfield, IL
Dennis Stine, Stine, Sulphur LA
These leaders use information to better understand their markets, customers' needs and gain a decisive competitive advantage. We are proud to say that all get information from The Farnsworth Group!
Congratulations to all once again.
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Builder Confidence Surges in June
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For the first time since April 2006, builder confidence surged past 50 on the National Association of Home Builders/Wells Fargo Housing Market Index released Tuesday. This benchmark indicates that builder sentiment is mostly positive regarding market conditions.
The eight-point jump to 52 in June also marked the biggest one-month gain since August and September 2002.
Any reading over 50 indicates that more builders view sales conditions as good than poor.
"Builders are experiencing some relief in the headwinds that are holding back a more robust recovery," said NAHB chief economist David Crowe.
June's HMI numbers are on track with the forecast for a 29% increase in total housing starts for 2013, according to Crowe.
All three HMI components posted gains in June. The index gauging current sales conditions increased eight points to 56, while the index measuring expectations for future sales rose nine points to 61 -- its highest level since March 2006. The index gauging traffic of prospective buyers rose seven points to 40.
The HMI three-month moving average was up in three of the four regions, with the Northeast and Midwest posting a one-point and three-point gain to 37 and 47, respectively. The South registered a four-point gain to 46, while the West fell one point to 48.
Source: Home Channel News. June 18, 2013. http://www.homechannelnews.com/article/builder-confidence-surges-june
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Housing Starts Rise 6.8 Percent in May
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Nationwide housing starts rose 6.8 percent to a seasonally adjusted annual rate of 914,000 units in May due primarily to increased production on the multifamily side, according to newly released data from HUD and the U.S. Census Bureau.
"The outlook for housing continues to brighten as builders respond to increased demand for new homes and rental apartments," said National Association of Home Builders (NAHB) Chairman Rick Judson, a home builder from Charlotte, N.C. "While challenges with regard to the cost and availability of building materials, lots and labor are still keeping the pace of improvement in check, both builders and consumers are more confident about their prospects in the current marketplace."
"Unusually wet weather across much of the country likely dampened the pace of single-family production in May," noted NAHB Chief Economist David Crowe. "Nevertheless, the strength in permit issuance for single-family units -- and stockpiling of permits for future use -- provides further evidence that housing continues on a slow and steady path to recovery."
While single-family housing starts held at a solid but virtually unchanged pace of 599,000 units in May, multifamily production bounced back from an over-correction in the previous month with a 21.6 percent gain to 315,000 units. From a regional perspective, combined starts activity was mixed in the month, posting gains of 17.8 percent in the South and 5.7 percent in the West and declines of 9.0 percent in the Northeast and 13.7 percent in the Midwest.
Issuance of new building permits declined 3.1 percent to a seasonally adjusted annual rate of 974,000 units in May. This reduction was due entirely to a 10.0 percent decline to 352,000 units on the multifamily side following a spike in that sector's permits in April. Meanwhile, single-family permits edged up 1.3 percent to 622,000 units in May -- their best pace in five years. Regionally, permits rose 4.0 percent in the Northeast but declined 6.1 percent in the Midwest, 3.3 percent in the South and 3.5 percent in the West in May.
Source: NAHB. June 18, 2013. http://www.nahb.org/news_details.aspx?sectionID=122&newsID=16344
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| Summer Forecast: 60% of Homeowners Plan Home Improvement Projects | |
As summer officially kicks off this Friday, Zillow Digs has released its Summer Home Improvement Trend and Spending Survey, spotlighting the 60% of homeowners who plan home improvement projects this season, with a median budget of $1,200.
According to the company, more homeowners are planning to invest time and resources into their surroundings due to scant housing inventory and trouble with mortgages.
Among the other findings was a strong indication that natural elements and glass features are trending at the moment. Forty percent of survey respondents planned outdoor projects, while 17% planned bathroom renovations. Based on company data, homeowners are leaning toward natural looks (such as stone fireplaces) and open, airy looks in the bathroom (with glass tiles and shower enclosures).
Additionally, the survey found that young homeowners and those with children were significantly more likely to be planning home improvement projects. Seventy-one percent of those between the ages of 18 and 34 were planning work this summer, compared with 61% of 35 to 54 year olds. Homes with children were 8% more likely to plan projects.
A separate survey by Harris Interactive found that consumers in the younger age range (18 to 34) were also three times more likely than their older counterparts to hire professional landscaping services. With spending in this area expected to increase among all homeowners by $620, the findings are consistent with the Zillow's home improvement outlook, which prominently features outdoor renovations.
Source: Home Channel News. June 21, 2013. Written by: HCN Staff
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