The Outdoor Living Industry: Oasis in an Uncertain Economy
Outdoor living emerged as one of few sectors seeing clear skies despite the stormy economic climate of 2022. As discretionary spending pulled back broadly, homeowners continued directing budgets to outdoor upgrades that deliver joy, functionality and home equity value.
For the composite outdoor living industry, encompassing backyard accessories, patio installations, outdoor kitchens, lighting, landscaping services and more, revenue climbed an estimated 4.2% year-over-year topping $121 billion.
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