Jack-o'-lanterns are back... with a vengeance. This week, Home Depot put Halloween decorations for sale earlier than usual (think: 12-foot-skeletons) — and said it sold out almost “immediately.” But it's not all rainbows and candy corn: Home Depot's shares tumbled Tuesday after it said sales are slowing quicker than expected, especially in the DIY department.
Already picked out the X-mas tree... Pandemic-era House Hype is going through a makeover. People are showing signs of being less focused on painting and beautifying their new WFH offices and 24/7 biodomes. Instead, they’re focused on preparing for seasonal social events that didn't feel appropriate last year. The shift is already affecting businesses:
- Done retiling the bathroom... after doing it five times. DIY sales are down, not just at Home Depot. Sales at home improvement-focused Lowe's fell last quarter, and paint legend Sherwin Williams came in short of expectations.
- Ready to impress the neighborhood... Home Depot, Walmart, and Target all expect a surge in spending on holiday decor this year. And sales at celebration-focused Party City more than doubled last quarter from 2020.
House Hype just got festive... Pandemic trends aren't all disappearing; instead, they're evolving. As the Delta variant delays return-to-work plans, many people are (still) spending lots of time at home. But with 73% of US adults vaccinated, people want this year to feel more “normal” than last. House Hype used to be about making houses more liveable — now, it’s also about making them more fun.