Consumers are spending more time online shopping and less time actually putting the finishing touches on their homes, according to a study by the company Nordstrom.
The findings, which include an analysis of more than 100,000 products sold online, show consumers spend about $1.2 billion a year on home decor and home improvement, a significant increase from the $1 billion spent a decade ago.
“People are really excited about what they can do with their own home and what they might find at a home improvement store,” said Mark Schuster, senior vice president of consumer insights at Nordstrom, in a statement.
“The next time you’re out shopping for your next home, think about what it might cost if you were to make it your own.”
The study examined all items sold on Nordstrom’s website and analyzed how much consumers spent on each item.
The study included both home decor items and home-improvement items.
The study found that in 2015, the average spend per item was $2.95, an increase of 2.3 percent from the previous year.
In 2017, the annual average spent was $3.15, an 11 percent increase from 2016.
In the past decade, the number of products that were purchased for home improvement has doubled from 4,500 to 11,000.
In 2016, home improvement products accounted for 13.9 percent of the overall inventory.
The consumer spend on home improvement is projected to rise to 17.5 percent of total inventory in 2021, the study said.