Home improvement saw only insignificant movements in its current value sales during the review period, in most years either remaining static or seeing a slight decline. However, this changed in 2020 due to the impact of COVID-19, with the category turning to comparatively dynamic growth.
Due to the gradual rise of the DIY trend, manufacturers had already started to target the rising demand amongst non-professionals by introducing entry-level products, and these saw rising popularity in 2020. The particularly strong growth seen by cordless drills and other cordless power tools reflects the demand for convenience amongst non-professionals engaging in DIY.
Three of the top five home improvement players, Makita Corp, Koki Holdings and Bosch Corp, were also the leaders in power tools in 2020. Although this is not the largest category within home improvement, it is one of the most consolidated, as consumers tend to trust well-known brand names when it comes to drills and other power tools.
After seeing a dynamic current value increase in 2020, home improvement is set to turn back to decline in 2021. The impact of COVID-19 is expected to lessen in the second half of the year as vaccination rolls out, which will lead some people to return to work and other activities outside of the home, which will hamper growth.
Even prior to COVID-19, retailers that were outside of home improvement and gardening stores also started offering such products, such as major electronics and appliance specialist retailers and major homewares and home furnishing stores. With the presence of COVID-19, the competition in home improvement heated up even more due to rising sales.
E-commerce saw steady growth in its share of distribution throughout the review period, which continued at a faster pace in 2020. This trend is expected to continue in the forecast period as more consumers gain confidence ordering such products online.
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Understand the latest market trends and future growth opportunities for the Home Improvement industry in Japan with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Home Improvement research and analysis database.
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