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The global home improvement services industry is expected to reach $585.3 billion by 2030, exhibiting a 6.2% CAGR from 2021. And the home improvement market is also changing its sales approach in response to the shift to digital platforms. As such, we believe fundamentally sound home improvement stocks Lowe’s Companies, Inc. (LOW) and Mohawk Industries, Inc. (MHK) are well-positioned to cash in on the industry’s robust growth potential.
Conversely, with consumer discretionary spending shifting toward entertainment and travel as pandemic restrictions ease amid a rapid vaccine rollout, we think fundamentally weak companies in this space, The Home Depot, Inc. (HD) and The Sherwin-Williams Company (NYSE:SHW), might struggle to grow.
