THURSDAY, MAY 9, 2024
Marketing research company J.D. Power recently released its 2024 U.S. Paint Satisfaction Study, finding that manufacturers rely heavily on loyalty for both repeat purchases and positive recommendation.
“Listening to the customer and providing relevant product information makes a difference,” said Michael Taylor, Senior Managing Director of Retail Intelligence Practice at J.D. Power.
“Explaining product benefits and features, keeping the store clean, having supplies at the ready, providing suggestions and interacting in a positive way with customers goes a long way for both the product itself and the retailer.”
About the Report
The U.S. Paint Satisfaction Study was based on responses from 6,892 customers who purchased and applied interior paint, exterior paint and/or exterior stain in the past 12 months. The study was fielded from January 2024 through February 2024.
According to J.D. Power, the overall customer experience is based on four key drivers of satisfaction: application; durability; offerings; and price. The study also examines the customer experience with their paint retailer based on online experience, in-store experience, service and staff, merchandise and price.
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Marketing research company J.D. Power recently released its 2024 U.S. Paint Satisfaction Study, finding that manufacturers rely heavily on loyalty for both repeat purchases and positive recommendation. |
The findings were then organized by objectives, which involved the following for the Interior Paint, Exterior Paint, Interior Paint and Exterior Stain Segments:
The Paint Retailer Segment objectives include:
According to the press release, when it comes to purchasing paint, shoppers should do their research beforehand to ensure an understanding of what they want and need before engaging a retailer to get advice and recommendations.
Afterwards, J.D. Power explains, it is then up to the paint brand and paint retailer to deliver on those expectations by establishing trust throughout the shopping and purchase process.
For example, if a sales associate provided very helpful suggestions, trust satisfaction is 791 (on a 1,000-point scale) versus 616 when suggestions are not completely helpful. Even as the customer heads out the door, if they are thanked by the sales associate, trust scores are reportedly 770 versus 596 if they were not thanked.
In terms of rankings, Sherwin-Williams ranked highest in the interior paint segment with a score of 726. Behr followed with a score of 723, and Benjamin Moore ranked third with a final score of 717.
For the exterior paint segment, Benjamin Moore ranked the highest with a score of 739, with Behr ranking second at 725. The segment average is reportedly 713.
Cabot and Rust-Oleum tied for first in the exterior stain segment, both with a score of 716. Benjamin Moore took third place with a score of 710.
Finally, in tallying the scores for the paint retailer segment, Sherwin-Williams Paint Store took the top spot with a score of 720. Ace Hardware ranked second and Benjamin Moore independent retailer ranked third, with scores of 717 and 715, respectively.
2023 Report Results
Last year, the U.S. Paint Satisfaction Study was based on responses from 4,640 customers who purchased and applied interior paint, exterior paint and/or exterior stain in the past 12 months. The study was fielded from December 2022 through January 2023.
The researchers found that despite the average price of a gallon of paint increasing nearly $3 a gallon in the past year, overall paint satisfaction has held steady. Additionally, the percentage of paint customers applying their own interior paint has increased to 70%, up from 65% in 2022.
According to the press release, Sherwin-Williams ranked the highest in the interior paint segment with a score of 872. Behr followed with a score of 867, and Benjamin Moore ranked third with a final score of 865.
For the exterior paint segment, Behr ranked highest with a score of 865. Benjamin Moore ranked second and Sherwin-Williams ranked third, with scores of 864 and 859, respectively.
For the exterior stain segment, Benjamin Moore had the highest-ranking score, reporting of 868. In second, Sherwin-Williams reported a score of 854 and, in third, Cabot received a score of 843.
Finally, in tallying the scores for independent retailers, Ace Hardware took the top spot with a score of 889. Benjamin Moore ranked second at 882, followed by the Sherwin-Williams Paint Store in third with a score of 880.
Tagged categories: Ace Hardware; Behr Paint; Benjamin Moore; Business management; Business matters; Business operations; Cabot Corp.; Coatings manufacturers; Good Technical Practice; J.D. Power; Market; Market data; Market forecasts; Market research; Market trends; Paint; Program/Project Management; Retail; Retail; Rust-Oleum Corp.; Sherwin-Williams
