The Lawn & Garden Market in the DIY & Hardware Store Market in EAEU nan is facing minimal growth rate due to various factors such as low consumer interest in DIY activities and traditional gardening methods, as well as limited access to digital technologies. This has impacted the market's growth, despite the convenience of online services and increasing health awareness.
Customer preferences: The Lawn & Garden Market within the DIY & Hardware Store Market is witnessing a rise in demand for eco-friendly and sustainable products, as consumers become increasingly environmentally conscious. This trend is also influenced by the growing interest in gardening and DIY projects, as people seek to spend more time at home due to the pandemic. Additionally, there is a shift towards locally-made and ethically-sourced products, as consumers prioritize supporting small businesses and reducing their carbon footprint.
Trends in the market: In the EAEU region, the Lawn & Garden Market within the DIY & Hardware Store Market is seeing a rise in demand for eco-friendly and sustainable gardening products. This trend is driven by increasing consumer awareness about the environment and a growing preference for organic gardening. As a result, industry players are investing in research and development to offer innovative and environmentally-friendly products. Additionally, online sales of gardening equipment and supplies are growing, highlighting the need for digitalization in the industry. This trend is expected to continue, with potential implications for stakeholders such as increased competition and the need for strategic partnerships in the digital space.
Local special circumstances: In the EAEU region, the Lawn & Garden market within the DIY & Hardware Store market is heavily influenced by the unique geographical and cultural factors of each member state. For example, in Kazakhstan, the market is driven by the country's vast rural population and their preference for DIY gardening solutions, while in Belarus, the market is shaped by strict regulations on imported gardening products. Similarly, in Armenia, the market is influenced by the country's rich gardening tradition and the popularity of urban gardening among the younger generation. These local factors play a significant role in shaping the market dynamics within the EAEU region.
Underlying macroeconomic factors: The performance of the Lawn & Garden Market within the DIY & Hardware Store Market in the EAEU is shaped by a variety of macroeconomic factors. These include global economic trends, national economic health, fiscal policies, and financial indicators. For example, countries with stable economies and favorable fiscal policies may see increased consumer spending on home improvement and gardening products, leading to growth in the market. On the other hand, economic downturns or unstable policies may result in lower consumer confidence and reduced spending in the market. Additionally, factors such as currency exchange rates and inflation can also impact the performance of the market within the region.
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.
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