Category shows positive revenue growth that outpaces inflation and outperforms other major categories
TORONTO, Nov. 9, 2022 /CNW/ – Jobber, the leading provider of operations management software for home service businesses, today released its latest Home Service Economic Report: Q3 2022 Edition. The report features expert insights and proprietary data aggregated from more than 200,000 residential cleaners, landscapers, HVAC technicians, electricians, plumbers, and more, who use Jobber.
“The Home Service category has shown an incredible ability over the last few years to navigate tough challenges impacting every sector across the globe, from supply chain disruptions to labor shortages and rising material costs,” said Sam Pillar, CEO & co-founder of Jobber. “While these challenges are expected to linger, Home Service is once again showing strong stability and good revenue growth compared to other categories. The future looks bright in this category.”
Resilient Growth
Although the economy has slowed down across many categories in Q3 2022, the impact on Home Service has not been as significant. There are numerous positive signals that demonstrate resilience in the category.
An Appetite for Home Service: Consumer spending on Home Service has been strong and was second only to Restaurants in Q3 2022, outperforming other major categories, including Automotive, Grocery, Clothing, and more.
Growth Rates Show Stability: Although 2022 isn’t seeing the same ultra-high growth rates as last year, most of 2022 has still had healthy median revenue growth rates of 7-10% year-over-year.
Let’s Get Digital (Payments)
The ability to pay for services digitally has become an expectation among consumers. The pandemic and the need for social distancing boosted digital payment adoption in Home Service over the past couple of years—a trend that continues to grow.
Digital Adoption: Digital payments represented 40% of total payments collected in Q3 2022.
Cleaning Leads the Pack: Cleaning businesses experienced the highest adoption of digital payments.
Contracting Catching Up: Historically, Contracting has been the slowest segment to adopt digital payments but now shows a similar trend as Green businesses, which collected more digital payments in peak season.
Segments Stay Steady
While continued supply chain issues and a slight slowdown in demand contributed to declines in new work being scheduled in Q3 2022, revenue growth in the Cleaning, Green, and Contracting segments continued to be positive.
Cleaning: Cleaning businesses, which include industries such as residential cleaning and pressure washing, experienced positive revenue growth through the first three quarters of 2022.
Green: The Green segment, consisting of lawn care, landscaping, and other related outdoor services, experienced a decline in new work scheduled in Q3 2022 – while median revenue growth was around 7-8% the same quarter.
Contracting: Contracting, made up of construction contractors, plumbers, and electricians, experienced the biggest impact to new work being scheduled in Q3, but median revenue still grew 6–8% compared to last year.
“Year-over-year growth in 2022 is relatively lower than in 2021, which was boosted by pandemic-related home improvement trends. Even with this slowdown, the category continues to grow at a very healthy rate of around 10%,” explained Abheek Dhawan, VP, Business Operations at Jobber. “What we’re seeing is the Home Service category normalizing after pandemic-related volatility. Home Service remains a priority for consumers compared to other categories like Clothing Stores and Automotive. Even with macroeconomic uncertainty, we see a positive outlook for Home Service.”
Jobber is an award-winning operations management platform for small home service businesses. Unlike spreadsheets or pen and paper, Jobber keeps track of everything in one place and automates day-to-day operations, so small businesses can provide 5-star service at scale. Jobber’s 200,000 home service professionals have served over 27 million households in more than 60 countries. The company continually ranks as one of Canada’s fastest-growing and most innovative companies by Canadian Business and Macleans, The Globe and Mail, Fast Company, and Deloitte. For more information, visit: https://jobber.com/.
Media contacts
Sean Welch PAN Communications for Jobber [email protected] +1 407-734-7330
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
This report by The Canadian Press was first published Sept. 13, 2024.
OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.
The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.
The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.
The personal and household goods subsector fell 2.5 per cent to $12.1 billion.
In volume terms, overall wholesale sales rose 0.5 per cent in July.
Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 172.18 points at 23,383.35.
In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.
The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.
The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.
The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.
This report by The Canadian Press was first published Sept. 12, 2024.
