Hyperconnectivity, Do-It-For-Me behaviour and urbanisation will impact the home improvement and gardening industry in the future. Hyperconnectivity demands an omnichannel response from manufacturers and retailers, while urbanisation will lead to apartment living, meaning fewer and smaller gardens. However, opportunities still abound for home improvement and gardening players via augmented reality, smart home technology and turn-key solutions.
You have no recently viewed reports.
Why not browse through our Featured or Trending Reports to see what we have to offer?
Home improvement and gardening sales continued to recover in 2017 following the global financial crisis, with value sales rising by 1.6%. Faster growth is expected over 2017-2022 (1.8% CAGR) as the economic environment in Western Europe improves and demand scales up in Asia Pacific.
North America continues to be the leading region for home improvement and gardening sales globally. Nonetheless, Asia Pacific overtook Western Europe to become the second-largest region in 2014. Despite this, per household spend in Asia Pacific still lags behind that of North America, Western Europe and Australasia.
Globally, smartphone possession and internet access continue to increase, and this is driving demand for online sales in the home improvement and gardening industry. Players are responding through augmented reality apps, as well as increasingly using Instagram as a sales channel.
Worldwide urbanisation growth will be driven by Asia Pacific and the Middle East and Africa over 2017-2022, and this will result in an overall shift towards apartment living. Apartment living will mean fewer and smaller gardens, but will also likely create indoor gardening opportunities for gardening players.
Do-It-For-Me (DIFM) behaviour tends to be more prevalent in Asia Pacific and Latin America. However, even millennials in traditionally DIY markets (e.g. Western Europe and North America) are demonstrating DIFM behaviour. Turn-key solutions (e.g. design, delivery or assembly) emerge as an opportunity to tap into DIFM demand.