The DIY & Hardware Store Market in CIS nan is seeing minimal growth due to factors such as economic downturn, low consumer spending, and decreasing construction activity. Despite this, the market is driven by the increasing adoption of hardware and building materials, as well as the convenience of online purchasing.
Customer preferences:
With the rise of DIY culture and the growing trend towards home improvement projects, the Hardware & Building Materials Market within the DIY & Hardware Store Market has seen a shift towards eco-friendly and sustainable building materials. Consumers are becoming more environmentally conscious and are looking for ways to reduce their carbon footprint and minimize waste. This has led to an increase in demand for products made from recycled materials and those that have a lower impact on the environment. Additionally, there is a growing interest in DIY projects that incorporate renewable energy sources, such as solar panels and energy-efficient appliances, reflecting a larger societal move towards sustainability.
Trends in the market: In the CIS region, the Hardware & Building Materials Market within the DIY & Hardware Store Market is experiencing a shift towards e-commerce platforms, as consumers increasingly prefer the convenience of online shopping. This trend is expected to continue as more players enter the market, offering a wider range of products and services. Additionally, there is a growing demand for sustainable and environmentally friendly building materials, driving innovation and investment in this market. This presents opportunities for industry stakeholders to adapt their strategies and offerings to meet changing consumer preferences.
Local special circumstances: '
Within the CIS region, the Hardware & Building Materials Market within the DIY & Hardware Store Market is influenced by the geographical spread of the region. With countries like Russia, Kazakhstan, and Uzbekistan covering a vast landmass, logistics and supply chain management play a crucial role in the market. Additionally, varying economic conditions and cultural preferences also affect the demand for specific products. For instance, in Ukraine, the market is driven by the demand for affordable and durable building materials due to the ongoing conflict and economic challenges. In contrast, in more developed countries like Belarus and Moldova, there is a growing trend towards eco-friendly and energy-efficient building materials. These local factors significantly impact the market dynamics and create unique opportunities and challenges for businesses operating in the region.
Underlying macroeconomic factors: The Hardware & Building Materials Market within the DIY & Hardware Store Market is heavily influenced by several macroeconomic factors. These include global economic trends, such as the growing focus on sustainability and eco-friendly materials, which is driving the market demand for green building materials. Nationally, economic health and fiscal policies also play a key role in market performance, as they impact consumer spending power and investment in construction projects. Other relevant financial indicators, such as interest rates and inflation, also affect the affordability and availability of hardware and building materials, making them important considerations for market growth and profitability.
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)
