- Seventy percent of homeowners say they enjoy time spent caring for their yard
- Majority of homeowners prioritize their lawn and garden equipment as much as recreational items
- More than a quarter of Millennials cite environmental sustainability as a key reason they chose electric outdoor equipment
NEW BRITAIN, Conn., Oct. 6, 2022 /PRNewswire/ -- A new survey released today from Stanley Black & Decker (NYSE: SWK), the world's largest tools company and outdoor equipment leader, found that the majority of homeowners prioritize their lawn and garden equipment as much as recreational items such as golf clubs, bicycles, or exercise equipment.
Seven in 10 homeowners say they enjoy the time they spend caring for their yard, with nearly 60% of Gen Z and Millennial homeowners reporting that they will buy the best quality outdoor power equipment, even if it costs more.
"We are equally as passionate about innovation in the outdoor lawn and garden space as our customers, and we continue to see demand in electric products increase," said Christine Potter, President of Outdoor at Stanley Black & Decker. "With Millennials driving the largest surge in homeownership in decades, the outdoor lawn and garden tools sector has shifted toward electric products, in part, driven by recognition of the need to create products of the future while reducing carbon emission,"
The newly released Stanley Black & Decker survey found that more than 35% of Millennials who own electric-powered outdoor lawn and garden equipment cite environmental sustainability as a key reason they chose that equipment.
More than half (58%) of Millennial homeowners who own electric powered outdoor lawn and garden tools stated that ease of operation was a key differentiator versus gas powered equipment.
A whopping 85% of Gen Z (18-26 years old) homeowners currently own electric outdoor equipment or said they have considered switching to electric outdoor equipment, indicating that younger generations of soon-to-be homeowners will increasingly turn to high quality electric powered equipment to fit their needs.
"The performance and value of electric outdoor products has improved significantly in recent years, making them much more competitive alternatives to gas-powered tools," said Potter. "The advantages of these products are being recognized by younger generations and we remain committed to providing these best-in-class products that benefit our environment."
While a sizeable portion of Americans still use all gas-powered equipment or a combination of both gas and electric, the appeal of improved battery life, the lower cost of switching to electric, and increased performance resonate the most to homeowners, according to the survey.
By leveraging battery technology from its iconic tools business, Stanley Black & Decker is leading the charge in electrification. The company is investing in cutting-edge technologies and setting new standards of performance to deliver a suite of electric product offerings for its consumer and professional users.
Recent innovations from the company include a new robotic lawnmower and companion mobile app that enables users to program and schedule tasks from their smartphone, and the world's first two-in-one string trimmer from Craftsman with its own blowing function, eliminating the need for a second tool to disperse trimmings.
To learn more about how Stanley Black & Decker is electrifying the industry, visit their suite of outdoor brands, or join Stanley Black & Decker live at Equip Expo in Louisville on October 19 to experience these products first hand. Follow Cub Cadet and DEWALT on their social channels to see the latest announcements.
Stanley Black and Decker commissioned Atomik Research to conduct an online survey of 1,010 homeowners in the United States. The margin of error fell within +/- 3 percentage points with a confidence interval of 95 percent. The fieldwork took place in June of 2022.
Headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is the world's largest tool company operating nearly 50 manufacturing facilities across America and more than 100 worldwide. Guided by its purpose – for those who make the world – the company's approximately 60,000 diverse and high-performing employees produce innovative, award-winning power tools, hand tools, storage, digital tool solutions, lifestyle products, outdoor products, engineered fasteners and other industrial equipment to support the world's makers, creators, tradespeople and builders. The company's iconic brands include DEWALT®, BLACK+DECKER®, CRAFTSMAN®, STANLEY®, CUB CADET®, HUSTLER® and TROY-BILT®. Recognized for its leadership in environmental, social and governance (ESG), Stanley Black & Decker strives to be a force for good in support of its communities, employees, customers and other stakeholders. To learn more visit: www.stanleyblackanddecker.com
SOURCE Stanley Black & Decker
