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An economic report by Jobber shows the Home Service category, that includes a Green section, started off 2022 with strong growth, due to the strong home renovation trends from the previous year. While factors such as the rising costs of materials, shortage of labor and inflation resulted in a slight decline in new work being scheduled in Q2 and Q3 2022, the category as a whole is still outperforming most categories in terms of revenue growth.
From Jobber:
- Spending on Home Service has been strong and was second only to Restaurants in Q3 2022.
- In Q3 2022, there was a slight decline in new work being scheduled, while revenue growth continued at a healthy pace of 7 to 10 percent year over year.
- Invoice sizes experienced a higher price increase year-over-year than average inflation with over a 10 percent increase in values.
- Digital payments accounted for 40 percent of total payments collected in Q3 2022. The adoption continues to stay strong at similar levels seen in 2021, which were a significant rise from 2020 and previous years.
- While contract jobs have declined last quarter for both Cleaning and Green, one-off jobs have been largely unaffected.
- Green businesses experienced a slight decline in new work scheduled in Q3 2022, while median revenue in Q3 grew 5 to 10 percent year over year.
