American Express Predicts Increase in Home Improvement Spending
August 10, 2005
l American Express is predicting a lot of “plastic”—or even old fashioned cash—will be used this spring, as Americans say they will spend more on home improvement projects. According to the 2003 American Express Home Improvement Index, a national survey of heads of households planning home improvements this year, the average home improvement budget will rise to $3,796 this year, up 31% from the $2,888 reported in 2000. Half of those who responded will spend more than $2,000, up from 39% three years ago. In addition, households with income of $50,000 or more will spend $4,267 this year, up 12% from 2000 levels.
The introduction of Point-of-Sale Tinting systems in the 1950s changed forever the way that decorative paints are sold. Prior to World War II and during the immediate post-war period, paints were supplied in a limited range of colors and retailers ha…