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Strategy Briefing
The Impact of Coronavirus on Home and Garden
Apr 2020
US$1,325Added to Cart
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About This Report
New Report Guarantee
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
With the Coronavirus (COVID-19) response seen across global markets, the home and garden industry saw a spike in demand in Q1 2020 in categories that cater to the needs of stay-at-home mandates and food supply concerns. Full-year 2020 industry sales will be shaped by the macroeconomic environment and further changes in consumer priorities, disruption in supply chains, and channel shifts, with a focus on e-commerce. Some of these trends are likely to have longer-term consequences beyond 2020.
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Overview
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Key Findings
Short-term spike in Q1 vs full 2020 slowdown in sales as economies and incomes take a hit
While the impact of COVID-19 shifts has benefitted a number of categories within home and garden in Q1, as economies and consumers feel the full impact of COVID-19, retail sales are expected to slow down, with many consumers focusing on essentials in view of high unemployment and depressed incomes.
Pause in housing markets and construction will refocus attention on small DIY projects in 2020
Housing markets across countries showed signs of decline later in Q1; these are likely to continue in Q2, with uncertainties and financial insecurities in place. Major renovation projects and construction are also expected to be put on hold. On the other hand, smaller DIY work at home and gardening trends will provide opportunities for the industry to provide relevant products and services to maintain consumer interest during the downturn.
Opportunities to re-balance supply chain can go beyond 2020
While a number of industry participants have already been evaluating opportunities in the supply chain that go beyond a focus on China, COVID-19 and the expected disruption to supplies and inventories in Q2 and later in 2020 can open up opportunities for countries that have already be vying for a bigger share of product supplies. Attention to supply chain management will also be needed in view of e-commerce evolution.
Improving agility in e-commerce and omnichannel approach in response to COVID-19 and for long-term competitiveness
Aside from China, with its already vast and increasingly efficient e-commerce network, the home and garden industry has been slow to tap into online retail. COVID-19 has further demonstrated the gap, forcing many brands and retailers to re-think their e-commerce and omnichannel retail strategies. The need goes beyond the COVID-19 response and will bring longer-term benefits to industry players wanting to remain relevant and competitive, both now and in future.
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Introduction
Scope
Home and garden industry pre-COVID-19: global view
COVID-19 impact: key findings
Home and garden and COVID-19
Industry 2020 workbook at a glance
COVID-19 in context
Economic Outlook
Global GDP is likely to contract in 2020 under the baseline scenario
The COVID-19 pandemic impacts both supply and demand
In our baseline view, the pandemic peaks in June 2020
Three scenarios examine the impact of a more severe outbreak
Our view in short
Forecasts for Real GDP growth in 2020 under different scenarios
Financial markets on risk-off mode as COVID-19 entered Italy
China: an early glimpse into the economic cost of the virus
COVID-19 highlights need for supply chain diversification
Fiscal stimulus a challenge with restrictions on expenditure
What could alleviate the economic effects of the pandemic?
What could exacerbate the economic impact of the pandemic?
Industry Impact
C hallenging times expected in 2020, but long-term outlook is positive
COVID-19 Deep Recession: modest industry decline in 2020
At-risk housing market a factor in slowdown in home and garden sales
Need for more agile e-commerce home and garden retailing
Opportunities in supply chain disruption and seasonality of retail sales
Shifts in consumer behaviour in Asia Pacific
Work from home in the Americas: potential acceleration long term
Western European brands and retailers adapt to COVID-19
Expanding work from home in the Middle East and Africa
Housing market and work mobility: boost to rental companies and DIY?
Geographic Impact
Healthy earlier projections across regions likely to halt in 2020
Americas: decline in 2020 but longer-term trends likely to stand
Americas: production halts in China to affect US home and garden
Americas: home office furniture in higher demand
Asia Pacific: downturn in 2020 before return to growth with recovery
Asia Pacific: focus on e-commerce to mitigate COVID-19’s effect on sales
Asia Pacific: Tmall and Taobao Live offset the drop in offline sales in China
Western Europe: more bad news in 2020 for select markets
Western Europe: understanding opportunities in 2020
Western Europe: supply chains and e-commerce in Italy and Germany
Eastern Europe: downturn in 2020 but staying the course post COVID-19
Eastern Europe: seeking opportunities in DIY and e-commerce
Eastern Europe: higher than usual demand in Q1 2020 in Russia
MEA: downturn in 2020, return to growth post COVID-19
MEA: higher demand for home office furniture due to COVID-19
Corporate Response
Securing supply chains, re-thinking production and adapting to channel shifts
Adjusting production to mitigate slowdown and advance innovation
Ace Hardware International: improving omnichannel strategies
Casper Sleep: building on its pre-COVID-19 omnichannel approach
Conclusion
Key insights: COVID-19 scenarios
Outlook for home and garden in context of COVID-19
About Our Analytic Capabilities
About Euromonitor International’s Macro Model
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Want to find out more about this report?
Request more informationComplete Catalogue
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- Home and Garden in the Netherlands | Apr 2020
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- Home and Garden in the United Kingdom | Apr 2020
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Complete Catalogue
Strategy Reports
- Global Recovery Tracker: Q3 2020 | Nov 2020
- The New Normal: Identifying the Markets Most Primed for Sustained E-Commerce Growth | Oct 2020
- Going Green: Sustainability in Singapore | Nov 2019
- The Haves and Have Nots: The Impact of the Widening Gap Between Rich and Poor | Nov 2011
- 25 Global Consumer Trends 2008: Back to Basics – it’s Still the Old Economy in a Cool Climate | Jun 2008
- Shopping for Pleasure: The Development of Shopping as a Leisure Pursuit | May 2008
Country Reports
- Home and Garden in Argentina | Apr 2020
- Home and Garden in Australia | Apr 2020
- Home and Garden in Brazil | Apr 2020
- Home and Garden in Canada | Jun 2020
- Home and Garden in China | Apr 2020
- Home and Garden in France | Apr 2020
- Home and Garden in Germany | Apr 2020
- Home and Garden in Hong Kong, China | Apr 2020
- Home and Garden in India | May 2020
- Home and Garden in Indonesia | Apr 2020
- Home and Garden in Italy | Apr 2020
- Home and Garden in Japan | May 2020
- Home and Garden in Malaysia | Apr 2020
- Home and Garden in Mexico | May 2020
- Home and Garden in Poland | Apr 2020
- Home and Garden in Romania | Apr 2020
- Home and Garden in Russia | Apr 2020
- Home and Garden in Singapore | Apr 2020
- Home and Garden in South Africa | Jun 2020
- Home and Garden in South Korea | Apr 2020
- Home and Garden in Spain | Apr 2020
- Home and Garden in Sweden | Apr 2020
- Home and Garden in Switzerland | Apr 2020
- Home and Garden in Taiwan | Apr 2020
- Home and Garden in Thailand | Apr 2020
- Home and Garden in the Netherlands | Apr 2020
- Home and Garden in the Philippines | Apr 2020
- Home and Garden in the United Arab Emirates | Apr 2020
- Home and Garden in the United Kingdom | Apr 2020
- Home and Garden in the US | Jun 2020
- Home and Garden in Turkey | May 2020
- Home and Garden in Ukraine | Apr 2020