Deemed to be non-essential businesses during the initial stages of the pandemic, home and garden specialist retailers experienced declining value sales during the first year of the pandemic. However, even as restrictions were eased, some consumers remained wary of spending money on non-essential items due to increasing price sensitivity and uncertainty over the immediate future.
Homewares and home furnishing stores suffered more than home improvement and gardening stores as outlets with selling spaces greater than 400 sqm were closed for four weeks longer than other non-grocery specialists. Thus, they never really experienced as large a consumer rush upon reopening.
XXXLutz KG will remain the overall category leader in 2021, seeing a return to retail value sales growth. Despite its decline in the previous year, the player has nevertheless remained on top during the pandemic due to its extensive store network and its wide brand portfolio which includes XXXLutz in the mid-priced to premium range, the furniture discounter Möbelix and the younger Mömax positioned in the budget to mid-priced range.
In value sales terms, home and garden specialist retailers is expected to quickly recover quickly in 2022, following the drop of 2021, with further growth expected throughout the forecast period. This will ensure that sales surpass pre-pandemic levels.
Home improvement and gardening stores is predicted to record the stronger performance in value growth terms over the forecast period, provided that the housing market also makes a recovery. In addition to making further investments to their homes and gardens, favourable trends that were emerging prior to the pandemic are likely to resume, whereby younger generations are becoming increasingly interested in DIY projects and gardening - with the latter particularly perceived to be a relaxing activity.
Homewares and home furnishing stores is likely to continue to be impacted by over saturation and related price pressure in the category. The channel will not only continue to face growing competition from e-commerce, but also from large hypermarkets and discounters, which are predicted to continue searching for new profit opportunities (including offering homeware and home furnishing products) by meeting consumer demands for one-stop shopping opportunities.
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This is the aggregation of homewares and home furnishing stores and home improvement and gardening stores. Business-to-business sales are excluded.See All of Our Definitions
This report originates from Passport, our Home and Garden Specialist Retailers research and analysis database.
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