Home improvement will respond well to the COVID-19 pandemic in 2020 overall as current value sales rise impressively. Due to lockdown and the ongoing restrictions, Romanians have been spending more time at home throughout 2020 and have therefore been more compelled to renovate their spaces, as to make for a more relaxing environment for home confinement.
In response to the COVID-19 pandemic, the health and wellness trend has been gathering pace, especially that associated with “germaphobia”. Consequently, products such as home paint with antibacterial and antifungal properties have seen increased demand throughout 2020 as consumers have wanted to ensure their homes are as sanitised as possible.
With a strong presence across a wide range of home improvement products, Sanex SA, which manufactures and sells bathroom and sanitaryware and floor and wall covering, will maintain its position as the leading player in home improvement in 2020. Amongst the most recognised brands in home improvement, Sanex SA has earned high customer loyalty over the years as a result of its long tradition and its continual investment in innovation.
At the beginning of the forecast period, home improvements will see slowed growth as the pandemic comes to an end and the performance of the product area returns to similar growth rates seen towards the end of the review period. However, growth will continue to be boosted as a lot of Romanian houses need to be renovated, with a lot of products like ceramic tiles or bathroom and sanitary ware coming to the end of their lifecycles, thus encouraging consumers to invest in such products in the coming years.
Over the forecast period, product design and marketing will become of high importance as the competitive landscape increasingly intensifies. With Romanians being more preoccupied with product quality, home improvement brands will also look to present themselves in a modern and attractive way.
Home improvement e-commerce will continue to perform well over the forecast period, with the leading players investing in enhancing the online shopping experience and broadening the range of products they make available online. For example, in addition to launching a new mobile app, Hornbach Romania announced that it intends to have 80% of its products available online.
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Understand the latest market trends and future growth opportunities for the Home Improvement industry in Romania 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 Improvement industry in Romania, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Home Improvement research and analysis database.
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