Vevor Defies The Home Improvement Slump With Budget-Friendly Shopping

The home improvement industry is experiencing a slump. According to Forbes, home renovation spending is expected to decrease from $481 billion in 2023 to $450 billion in 2024. 

Similarly, the two titan home improvement retailers saw declining sales figures during the second quarter of 2024. Between steep renovation costs, heightened interest rates, and a sluggish housing market, homeowners seem to have lost their enthusiasm for home improvement projects. 

While now might seem like a good time to put your paint cans back in storage and postpone those renovation plans after the holidays, hope for home improvement isn’t gone yet. One online home improvement retailer is experiencing an increase in sales despite the industry-wide slowdown. 

Vevor offers a budget-friendly model, encouraging consumers to get their hands back on their projects.

While the home improvement industry is positioned for sustained growth, the recent trend of declining sales figures has signaled a cooldown on an otherwise thriving market. High interest rates are a cause for concern for many consumers. 

Trading Economics said interest rates hit a 23-year high of 5.25-5.50% in September. These high rates fuel inflation, causing consumers to experience sticker shock when they enter one of the large brick-and-mortar stores dominating the industry. 

They have also served to slow the housing market, leaving homeowners stuck with their older houses. Despite the drive to renovate, many customers have taken to delaying, canceling, or searching for bargains for their home improvement projects.

Vevor is a relative newcomer to the industry that has risen to fill the affordable home improvement supplies gap. It began selling products on eBay in 2007. In 2013, it expanded its market onto Amazon’s platform. In 2020, Vevor made the debut of its Vevor marketplace, vevor.com. It has now grown into a global online retailer, offering a diverse range of home improvement products, from tools and garden supplies to automotive parts and more. 

Vevor’s website features daily sales and savings through bulk orders, giving prospective home improvers increased flexibility in managing their projects’ budgets. For those who like to take advantage of the advice offered in traditional brick-and-mortar home improvement outlets, Vevor has a DIY projects and ideas section on their website, complete with step-by-step guides. 

They even have membership programs for serious project managers. These range from personal to professional accounts, giving growing businesses an affordable option for purchasing the supplies needed to improve and maintain their facilities. 

According to Vevor’s website, the company’s sales are thriving. The company sells over 20,000 products to a customer base of 10 million across more than 190 countries. Orders for Vevor products can be placed online through the official Vevor website and other online markets, including Amazon, eBay, and Walmart, and are usually delivered within two to five days. 

Its product information pages are detailed with accompanying images and videos, giving consumers a similar experience to shopping in person. Vevor’s products even come with 30-day returns and one-year warranties, strengthening the trust in purchasing online.

Vevor primarily caters to a budget-conscious clientele by emphasizing affordable and reliable home improvement products. The company's focus on affordability has helped it hit its growth targets. 

With its budget-friendly offerings, Vevor plans to continue gaining market share. As increasingly price-sensitive consumers search for better options, its success could signal a new trend in home improvement. If more homeowners find themselves locked in their homes amid a slow housing market, the need for home improvement will continue. 

By providing the right products at the right time, Vevor has made home projects possible again. If you want to paint that room, upgrade those appliances, or replace that shower, don’t let rising costs and inflation slow you down. With a budget-friendly model, Vevor can get you what you need. Defying a cooling market, Vevor has created space for improvement in people’s houses and growth for its future. 

Image Credit: Vevor

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