Home Service Economic Report Shows Steady Revenue Growth

October 26, 2020
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Jobber’s Latest report reveals full quarter of positive year-over-year revenue growth for Cleaning, Contracting, and Green segments

Jobber, the leading provider of home service management software, today released the Home Service Economic Report: Summer Edition, which showcases market trends and insights pertaining to Home Service businesses in the first three quarters of 2020. Year-to-date, the Home Service category has shown overall positive year-over-year revenue growth, demonstrating resilience to the ongoing pandemic.

Type of Work Performed – Contracting (YoY)

Findings within the report cover all Home Service industries with additional details divided into three segments: Cleaning, Green, and Contracting. According to the report, all segments have now experienced four consecutive months of positive year-over-year revenue growth and equal or positive gains in new work scheduled.

“The Home Service category has continued its path of recovery throughout Q3, in most cases, rebounding to pre-pandemic growth levels,” said Sam Pillar, CEO & Co-founder at Jobber. “While June saw record-high growth, Q3 was a successful quarter as it showed consistent improvements across segments and less volatility overall. It’s possible that this last quarter could signal a return to a new normal.”

Category Comparison YoY (Q3 2020)

Jobber’s Home Service Economic Reports are compiled using proprietary performance data aggregated from the 100,000+ home service professionals the platform serves. Category performance is also compared to other major categories for context. New to this quarter’s report is data revealing trends in type of work completed, digital payment adoption, and consumer communication. Key findings from the summer report include:

  • New Work Finds Pre-Pandemic Success—New-work-scheduled started to show signs of recovery from May onwards, hitting a record high for the year in June with 17% growth year-over-year. The growth continues to look healthy year-over-year in Q3, exceeding pre-COVID levels.
  • Employment Growth Sees Upward Trajectory—Compared to Total Nonfarm employment growth, which saw an average decline of around -7% year-over-year in Q3, Home Service fared much better with a decline of around -4%. The category has seen rapid recovery, starting with a decline of -12.9% in April to -4.9% year-over-year in June 2020, followed by continued improvement in Q3.
  • Home Service Outperforming Most Categories—With the exception of Grocery Stores and General Merchandise Stores, Home Service was the most stable category through the peak of the pandemic. It has also recovered very well through June and Q3 compared to others such as Clothing Stores and Restaurants.
  • Electronic Payments On the Rise—From January to May, there has been a 5% increase in e-payment collection when compared to other methods such as cash or cheque, which can be largely attributed to social distancing measures that came into effect earlier this year.

Consumer Spending Comparison YoY

“Analyzing measures such as consumer demand, employment, and revenues, we see encouraging results for the Home Service category,” said Abheek Dhawan, VP, Business Operations at Jobber. “Home Service businesses have rebounded better than most other categories, and it’s fair to say that businesses and consumers remain optimistic, but cautious, as we enter the final quarter of 2020.”

To download the full Home Service Economic Report: Summer 2020 Edition, visit Jobber Homes Services Report.

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