At the beginning of the hard lockdown imposed in late March 2020, many households had to convert their homes into multifunctional spaces by temporarily allocating dedicated areas for work, studying, and home entertainment. However, as new waves of infections emerged and the pandemic persisted, home improvement and gardening stores witnessed increased demand from mid- and high-income groups making permanent changes to their living spaces.
The performance of homewares and home furnishing stores was driven by value offers, with Mr Price Group benefiting from brand equity to aggressively expand the number of Sheet Street and Mr Price Home stores. The trend was also supported by the influx of new players such as The Foschini Group in 2020, with the company reintroducing an affordable range of homewares in 40 selected Jet stores that initially focused on apparel and footwear, shortly after acquiring over 300 Jet outlets from Edcon.
The Competition Tribunal rejected a ZAR1.1 billion deal set to allow Cashbuild to take over The Building Company.
The performance of home and garden specialist retailers will benefit from improving economic conditions, with home improvement stores particularly benefiting from the expansion of cities and the development of rural areas. Towards the end of the review period, the government introduced new programmes to increase the level of home ownership across the underserved population, with First National Bank also introducing a stokvel home loan model where up to eight individuals can apply for a single property.
Homewares and home furnishing stores will likely face further competition, as players diversify their offer while expanding their store footprints in proximity to households. For example, The Foschini Group introduced standalone Jet Home stores to complement its offer at the lower end of the market, while retaining support from mid- and high-income consumers for its @home brand.
The shift towards omnichannel will remain pivotal for home and garden specialist retailers, supported by strategic partnerships between leading companies and on-demand delivery services. During the review period, the acquisition of One Card by Massmart was expected to allow the company to improve online services for its DIY, home improvement and building material departments, following up to 85% growth recorded in Q2 2021.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Home and Garden Specialist Retailers industry in South Africa with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Home and Garden Specialist Retailers industry in South Africa, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!