22 กุมภาพันธ์ พ.ศ. 2562
รายละเอียด
North American homeowners are abandoning
do-it-yourself projects
in record numbers to go with the pros, making
“do-it-for-me”
the largest and fastest growing sector of the market,
according to Sherwin-Williams Co.
The trend is a boon for contractor-focused paint shops
owned by Sherwin, PPG Industries Inc. and Benjamin Moore,
a unit of Berkshire Hathaway Inc.
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Bob Wells,
a Sherwin senior vice president
said on a Jan. 31 conference call
“Residential repaint activity,
which is the largest segment in the pro market,
has been very strong,”
“DIY on the other hand has been lagging.”
"Sherwin’s residential repainting revenue
has gained more than 10 percent annually
for more than five years, faster than the overall market,"
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Jennifer Albert,
a PPG senior marketing manager
Generation X couples, many working two jobs while raising children,
are “time starved” and particularly likely to hire pros,
Baby Boomers who did their own painting when they were younger
now have the financial resources to pay others
to do home improvements.
Millennials are becoming homeowners,
often buying older houses that need updating.
Homeowners are doing more remodeling
as they stay in their houses longer
-- on average more than eight years.
A healthy economy and low unemployment
means more people can afford to hire professional painters,
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Sales Boost
Dmitry Silversteyn,
an analyst at Buckingham Research.
The rise of do-it-for-me is driving above-average sales growth
at Sherwin even as sales of existing homes
– a big market driver – have languished,
Sherwin is seeing earnings margins benefit, too,
as it can eke out more profit
by selling paint directly through its stores
than it can through retailers such as Lowe’s.
Gross margins at its own stores are almost 50 percent
compared with
about 40 percent for paints sold through other retailers,
though most of the difference is given back to contractors
who expect superior service
and steep discounts for buying in bulk,
Contractors also prefer thinner coatings
that can be applied easily and cost less than
the thicker single-coat paints preferred by DIY painters.
PPG gets only
40 percent of North American house-paint revenue
from its stores, but that’s twice
what it was before 2013
when the company paid $1.05 billion
for an Akzo Nobel NV business
that included 600 stores.
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Contractors accounted for 62 percent
of North American home repaint jobs in 2017,
with the remainder DIY,
according to Sherwin-Williams.
That’s a big reversal from 1980, when
DIY dominated with 59 percent of the market.
While the 2009 recession gave a brief boost to DIY,
contractors have gained each year since.
Paintmakers are hurrying to adapt to
the change in their customers’ habits,
in part by opening more branded stores
that cater to contractors.
Sherwin Williams, the world’s largest paintmaker,
operates 4,696 such stores in the Americas,
up 40 percent in a decade.
Getting the balance right is challenging paintmakers
as the market shifts.
Sherwin stores accounted for
55 percent of sales and
73 percent of profit last year,
according to data compiled by Bloomberg.
PPG, the No. 2 coatings maker,
has more than doubled its stores to about 900,
though house paint makes up
a smaller part of its industrial-focused portfolio.
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Labor Shortage
The market could grow even faster
if labor shortages didn’t hold it back.
Nigel Costolloe,
owner of Catchlight Painting in Brookline, Massachusetts,
has had to turn away work because
he can’t find enough qualified painters
even though he offers health insurance, time off and training.
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Costolloe,
who chairs the Painting and Decorating Contractors of America,
a trade group
“The challenge at the moment is not finding customers,
but finding people to hire,”
“Most of our clients are two-income families
and the last thing
they want to do is spend their weekends painting.”
ขอขอบคุณที่มา www.bloomberg.com
WWW.CHEMWINFO.COM BY KHUN PHICHAI
