Top Lumber, Building Materials, and Hardware Industries Trends for 2023

2022 is a wrap and as we move into the next year, it is important that we take time to reflect on the trends that have taken off. Not only have these redefined how we all work today, but they should be used to drive our 2023 plans.

The Lumber, Building Materials, and Hardware industry especially has seen major growth and ingenuity to combat the many economic, labor, and supply-chain shortfalls that have rocked 2022. What has helped us ride this wave is the evolving demands and adoption of digital growth, data protection, and mobility.

• Digital Growth – In our recent 2022 State of Lumber, Building Material, and Hardlines (LBMH) Report, we found that 63% of industry professionals consider ecommerce the most crucial feature in running their businesses. The COVID-19 pandemic only intensified online shopping, forcing businesses to pivot toward online sales but many found it to be a challenge with limited experience and resources.
• Data Protection - Every year, data attacks become more sophisticated, numerous, and devastating. Worse, many target small— to medium-sized businesses that represent the backbone of America’s entrepreneurial middle class. Businesses like yours are making big moves to get enterprise-level data protection for their SMB.
• Mobility - Customers want to shop for materials when it’s convenient for them, and retailers need to respond to that need, or else they run the risk of not staying competitive with the big box stores. Today, mobile-minded, service-centric retailers appear to be the best equipped for survival. Are you one of the forward-thinking businesses utilizing software solutions for your home and building supply businesses? If not, it’s not too late.