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81% of Americans buy new tools every year, while popular tool brand Craftsman and lawn & garden tools top their lists in 2014.
It's not a shock that Father's Day ranks tops with shoppers for the best time to find tool deals, as we've witnessed this buying trend for a few years now. However, the fact that Father's Day Sales outrank Black Friday, December Holiday and Cyber Monday combined is indeed revealing. Add 30% of respondents that rank Spring Sales as the second best time to buy tools and technically, we could conclude almost 70% of annual tool buyers look for the best deals...right about now!
8 in 10 surveyed (81%) said that they buy new tools at least once a year, with half of those (40%) more than once (20% 3-4 times a year). Of these, 3 in 10 will spend between $100 - $249 and 13% spend more than $250 on new tools annually. With all this tool buying, we asked what would curb their desires...1/3 of males said the only thing to stop them from buying tools was if they “run out of money”.
Note: 21% of females said "a hammer, screwdriver and duct tape" are the only tools they need!
Other interesting tool buying trends report nearly 4 in 10 say they want lawn and garden tools and are most popular by far, especially for females (46%) and those w/children (44%). Cordless Combination Power Tool Kits (20%) and hand tools (20%) ran a distant 2nd with power drills (14% - see Top 5 Cordless Drills Review) and tool boxes (13%) next in demand. Better than 2/3 of respondents say Quality/Durability most important feature for power tools. Craftsman was the big winner for most desired tool brand with 38% liking while budget brand Black & Decker held good standing at 26% and the popular DeWalt tools came in 3rd favorite at 19%. Savvy tool shoppers will be sure to add increased cash back to bolster their savings!
FatWallet 2014 Tools Shopping Survey Results (*TNS Global):
81% of Americans buy tools at least once a year!Q: How often do you buy tools (for using at home) or home improvement related items?
Dads want tools and know when to buy them!Q: Of these options, when is the best time to find deals on tools?
We spend but we also budget.Q: Approximately how much do you plan to spend on tools this year?
Overall home improvement spending is expected to grow 6.8% this coming year to nearly $313 billion in 2014 (Home Improvement Research Institute).
1/3 of males will buy tools until they run out of money.Q: What would stop you from buying new tools this year?
The yard rules our DIY world.Q: Which tools do shoppers want most this year?
Majority of tool buyers don't skimp.Q: Of these options, which is the most important feature for power tools?
Sears keeps tight grip on most popular tools.Q: Of these options, what is your most desired brand of tools?
*The national survey conducted online by TNS on behalf of FatWallet.com in March 2013 was fielded among 1,000 adults ages 18 or older, 50/50 male/female.
Brent Shelton on Google+
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