DIY & Hardware Store - Botswana

Botswana

In Botswana, the revenue in the DIY & Hardware Store market reached US$639.90m in 2024.
Looking ahead, the market is projected to experience an annual growth rate of 3.77% (CAGR 2024-2029).
When compared to other countries around Worldwide, in China generates the highest revenue in this market, amounting to US$785bn in 2024.
In terms of per capita figures, each person in Botswana generates revenues of US$235.30 in 2024.
Botswana's DIY & Hardware Store market is booming due to increased demand for home improvement projects and a growing construction industry.

Key regions: Worldwide, China, United States, India, Japan

Definition:

The DIY (Do-It-Yourself) market refers to the retail market for products used in home improvement and repair projects, such as tools, hardware, building materials, and lawn and garden products. These products are marketed to consumers who want to perform home improvement projects on their own rather than hire a professional. The DIY market provides consumers with the materials and tools they need to complete projects ranging from simple repairs to complete renovations, allowing them to save money and express their creativity in their living spaces.

Structure:

The market is divided into seven different segments:

The Paint, Wallpaper & Supplies segment includes products used for interior and exterior decoration, renovation, and protection of residential buildings.
The Tools & Machines segment consist of products used for construction, maintenance, and repair tasks.
The Hardware & Building Materials segment includes a diverse range of products that play an important role in the structure, safety, and functionality of a building.
The Lawn & Garden segment encompasses products that help homeowners and landscapers to create and maintain attractive and functional outdoor living spaces.
The Heating & Cooling segment focuses on produts that help regulate indoor temperatures, ensuring comfort, energy efficiency, and air quality in homes.
The Bathroom Hardware segment includes products designed to enhance the functionality and appearance of bathrooms.
The Floor Covering segment encompasses products that serve to protect the floor, enhance the appearance of the room, provide insulation and comfort, and can add value to a property.

Additional Information:

The market consists of revenue and average revenue per capita data. Per capita figures take into account the whole population. This market includes only B2C (business to consumer) sales. B2B (business to business) sales (e. g., hardware for coffee shops, offices, etc.) are excluded. For more information on the displayed data, click the info button on the right hand side of each box.

Market

Region

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Currency

Analyst Opinion

The DIY & Hardware Store market in Botswana is experiencing slow growth, influenced by factors such as limited consumer spending, competition from informal markets, and a shift towards DIY culture. This trend is seen across various sub-markets, including Floor Covering, Paint, and Tools & Machines. Despite the growing demand for home improvement, the market is hindered by challenges such as lack of skilled labor and high product costs.

Customer preferences: As more Botswana consumers prioritize environmental sustainability, there has been a growing trend towards eco-friendly and sustainable DIY and hardware materials. This is driven by increasing awareness of the impact of consumer choices on the environment, as well as government initiatives promoting sustainable living. Additionally, with the rise of social media and influencer culture, consumers are also placing more value on aesthetically pleasing and eco-friendly home improvement solutions.

Trends in the market: In Botswana, the DIY & Hardware Store Market is experiencing a shift towards online purchasing, as more consumers turn to e-commerce platforms for convenience and safety. This trend is expected to continue as the country's internet penetration rate increases, allowing for easier access to a wider range of products. Additionally, there is a growing demand for eco-friendly and sustainable products, leading to a rise in the popularity of green building materials and energy-efficient tools. These trends have significant implications for industry stakeholders, who may need to adapt their business models and incorporate digital strategies to remain competitive in the market.

Local special circumstances: In Botswana, the DIY & Hardware Store Market is thriving due to the country's growing construction industry and its relatively stable political and economic climate. The market is also heavily influenced by the culture of self-sufficiency and hands-on approach to home improvement among the local population. Additionally, the government's efforts to promote local entrepreneurship and support small businesses have created a favorable environment for DIY & hardware stores to thrive in the country.

Underlying macroeconomic factors: The DIY & Hardware Store Market in Botswana is impacted by various macroeconomic factors, such as the country's overall economic health, government policies, and global economic trends. Favorable economic conditions, including low inflation rates and stable economic growth, can increase consumer confidence and drive demand for home improvement products and services. Additionally, government initiatives to boost infrastructure development and encourage private investment can also contribute to market growth. However, factors such as currency fluctuations and commodity prices can affect the cost of imported materials and impact the profitability of DIY and hardware stores in Botswana.

Methodology

Data coverage:

Data encompasses B2C enterprises. Figures are segmented by product type and consist of the following: Paint, Wallpaper & Supplies, Tools & Machines, Hardware and Building Materials, Lawn & Garden, Heating & Cooling, Bathroom Hardware, and Floor Covering.

Modeling approach / Market size:

Market sizes are determined by a top-down approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use national statistical offices, international institutions, in-house market research, and resources from the Statista platform. Next we use relevant key market indicators and data from country-specific associations such as product value, import value, and export value to determine domestic supply. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are turnover indices, GDP per capita, and consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.