The unsteady situation in the Canadian real estate market led Canadians to renovate their homes, rather than turning towards their real estate agent. Their focus shifted towards do-it-yourself (DIY) home improvement, as it was more lucrative for homeowners to update and increase the value of their homes in the inflated market.
Home paint is seeing steady growth in Canada, with decorative paint accounting for the lion’s share of sales, as repainting the home is considered to increase house prices. Strong GDP is driving sales, with consumers’ increased preference to paint their existing houses, with a plan to later sell or upgrade.
Whilst most distribution channels have started to feel the heat from e-commerce, home improvement and gardening stores remain resistant to the trend. The two big players in this channel, Home Depot and Lowe’s, understand the Canadian mindset, which has helped them to register robust same-store sales growth.
Stanley Black & Decker led home improvement in Canada for a second year in value terms in 2018, thanks to its brands DeWalt, Irwin, Stanley and Craftsman. It took the lead from Behr Process Corp (Behr brand) in 2017 after seeing strong double-digit growth, and despite seeing a decline in its sales and share in 2018, it was able to maintain its lead.
Hitachi Koki Canada Corp, which has a major presence in power tools, changed its corporate name to Koki Holdings America from 2018. Apart from changing the corporate name, it also rebranded its full range of power tools Hitachi and Hitachi Koki under the new name HiKOKI, effective from October 2018.
The acquisition of Valspar Corp by The Sherwin-Williams Co in the second half of 2017 started to reap benefits for the latter, as Valspar sales were considered as the primary catalyst for the sales increases seen in the first three quarters of the year. Even excluding the contribution from Valspar, the company was able to see strong net sales growth.
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Overview: Discover the latest market trends and uncover sources of future market growth for the Home Improvement industry in Canada with research from Euromonitor's team of in-country analysts.
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