The DIY & Hardware Store Market in Pakistan is gradually growing, mainly due to the increasing trend of DIY home improvement projects and the convenience of online shopping. However, this market is faced with sluggish growth due to the challenging economic conditions and low consumer spending. Factors such as inflation and limited disposable income are impacting the market's growth rate, causing it to be relatively stagnant.
Customer preferences: Consumers in Pakistan are increasingly shifting towards DIY home improvement projects, driving growth in the Floor Covering Market within the DIY & Hardware Store Market. This trend is fueled by a growing middle class and urbanization, which has led to a focus on home aesthetics and convenience. Additionally, there is a demand for eco-friendly and sustainable flooring options, reflecting a growing awareness of environmental concerns. This presents an opportunity for retailers to offer a diverse range of products that cater to these preferences.
Trends in the market: The DIY & Hardware Store Market in Pakistan has seen a significant increase in demand for floor covering products, driven by the growing trend of home improvement projects and DIY culture. With the rise of e-commerce platforms, consumers now have access to a wide range of options for floor coverings, including eco-friendly and customizable options. This trend is expected to continue as consumers prioritize home renovation and decoration. Industry stakeholders can capitalize on this trend by expanding their online presence and offering innovative and sustainable floor covering solutions to cater to evolving consumer preferences.
Local special circumstances:
In Pakistan, the Floor Covering Market within the DIY & Hardware Store Market is influenced by the country's large population and growing middle class. As more households opt for DIY home improvement projects, the demand for floor coverings has increased. Additionally, cultural preferences for elaborate and decorative flooring have also contributed to the market's growth. However, the market faces challenges such as limited access to quality materials and traditional methods of floor covering still being preferred in rural areas. Moreover, regulatory hurdles, such as high import taxes, also impact product availability and pricing in the market.
Underlying macroeconomic factors: The Floor Covering Market within the DIY & Hardware Store Market in Pakistan is influenced by macroeconomic factors such as the country's economic growth, government policies, and global economic trends. The growth of the market is also driven by the increasing disposable income of consumers, which allows for greater spending on home improvement and renovation projects. Additionally, the growing trend of DIY home improvement projects and the rising demand for sustainable and eco-friendly flooring options are contributing to the growth of the market. However, the market may also face challenges due to fluctuating exchange rates, inflation, and the availability of raw materials. Overall, the market is expected to experience steady growth in the coming years, driven by macroeconomic factors and changing consumer preferences.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
