The 2020 Paint Satisfaction Study from J.D. Power has been released for review.
In addition to the results from this study, results of a J.D. Power pulse survey finds that over one-third (35%) of people are in the process or are planning to do a home improvement project over the next three months. This includes a 40% increase specifically due to the unexpected additional time at home. With people being restricted to their home, painting has become the top home improvement project planned with 44% indicating they have painted recently or will be during the next three months.
As the release notes, COVID-19 is putting many industries at risk, but the paint industry—as part of homebuilding and construction—is positioned to be less affected than others, according to Moody’s (moodys.com/coronavirus). In fact, there is evidence from the J.D. Power pulse survey that paint and stain purchases could potentially exceed typical Q2 trends. The brands and retailers that will most benefit from this silver-lining opportunity are the ones that differentiate in delivering an exceptional customer experience.
The study ranks paints and exterior stains into four categories:
–Interior paint: Sherwin-Williams ranks highest in the interior paint segment with a score of 867. Benjamin Moore(863) ranks second and BEHR (860) ranks third.
–Exterior paint: Sherwin-Williams ranks highest in the exterior paint segment with a score of 876. Benjamin Moore (861) ranks second.
–Exterior stain: Sherwin-Williams ranks highest in the exterior stain segment with a score of 850. Rust-Oleum (843) ranks second and BEHR (839) ranks third.
–Paint retailers: Sherwin-Williams ranks highest in the paint retailer segment with a score of 868. Benjamin Moore Paint Stores (856) ranks second and Menards (845) ranks third.
Scores are out of 1,000 points.
You can find the release here:
https://www.jdpower.com/business/press-releases/2020-paint-satisfaction-study