The Lawn & Garden market in Bosnia and Herzegovina's DIY & Hardware Store market is facing negligible growth due to factors such as limited consumer awareness and low disposable income. Despite the convenience of online services, the market is struggling to keep up with the digital transformation trend.
Customer preferences: As people in Bosnia and Herzegovina become more environmentally conscious, there has been a rise in demand for sustainable and eco-friendly lawn and garden products. This shift is also influenced by the growing trend of urban gardening and the desire for high-quality, locally grown produce. Consumers are also increasingly turning towards DIY and organic gardening methods, reflecting a preference for natural and chemical-free solutions. Additionally, with an ageing population, there is a growing demand for low-maintenance and accessible gardening options.
Trends in the market: In Bosnia and Herzegovina, there is a growing trend in the Lawn & Garden Market within the DIY & Hardware Store Market towards eco-friendly and sustainable products. This shift is driven by increasing consumer awareness about the environmental impact of traditional gardening practices and the desire for more natural and chemical-free solutions. As a result, industry players are focusing on developing and promoting environmentally-friendly products, such as organic fertilizers and natural pesticides. This trend is expected to continue, with potential implications for stakeholders to adapt their product offerings and marketing strategies to meet consumer demand for eco-friendly options.
Local special circumstances: In Bosnia and Herzegovina, the Lawn & Garden Market within the DIY & Hardware Store Market is influenced by its unique geographical and cultural characteristics. The country's mountainous terrain and temperate climate create specific demands for gardening and outdoor products. Additionally, the local preference for traditional gardening techniques and plants also shapes the market. Furthermore, the DIY aspect of this market is impacted by the country's history of self-sufficiency and the recent increase in disposable income, leading to a rise in DIY projects among homeowners.
Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in Bosnia and Herzegovina is influenced by macroeconomic factors such as economic stability, availability of credit, and consumer confidence. The performance of this market is directly impacted by the country's GDP growth, inflation rate, and fiscal policies. For instance, a stable and growing economy encourages consumer spending on non-essential items like lawn and garden products, while an economic downturn may result in decreased demand. Additionally, the increasing urbanization and disposable income in the country are contributing to the growth of this market. However, volatility in commodity prices and currency exchange rates can also affect the market performance in Bosnia and Herzegovina.
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)
