Pandemic Drives Surge in U.S. Hardware Sales

May 23, 2020, Los Angeles—The COVID-19 pandemic and resulting lockdowns have led to unprecedented shifts in the U.S. hardware industry. With many consumers staying at home, there has been a surge in home improvement and DIY projects, which has significantly increased demand for hardware products.

According to market research firm Statista, U.S. hardware retail sales grew by 12% in 2020 compared to 2019. Consumers were more likely to purchase tools, home repair materials, and security installations, particularly for things like new locks and security systems.

Retailers such as Home Depot and Lowe's reported a sharp rise in online sales during the pandemic. "With more time spent at home, consumers began focusing more on improving their living environments," said Todd Wilson, CEO of Lowe’s.