L.E.K. Consulting’s annual Contractor Behavior Survey revealed a continued positive recovery in the construction industry more notably this year as contractors once again reported healthier margins and sustained growth, and showed an ongoing resolve with respect to pricing new projects. The survey also emphasized a preference for one-stepper, broadline or specialty dealers over big-box stores and home improvement centers.
L.E.K. surveyed more than 500 residential contractors across the U.S. Additionally, we surveyed 250 non-residential contractors in a first-time attempt to compare preferences among the two groups.
Strengthened by the general favorable contractor outlook, those in the building products trade can leverage these positive trends to invest in growth strategies that accelerate share gains. L.E.K. found that, even though there isn’t a single strategy for growth, a few potential priorities should be useful:
- Keep the focus on service and selection
- Enhance web capabilities
- Provide valuable new solutions