The DIY & Hardware Store Market in Europe is witnessing a slight growth of the Lawn & Garden Market, due to factors like increasing consumer awareness and convenience of online services. However, this growth is being impacted by the current negligible growth rate of the market.
Customer preferences: There is a growing interest in sustainable gardening practices among consumers in Europe for the DIY & hardware store market. More people are looking for environmentally friendly solutions to maintain their lawn and garden, such as organic fertilizers and drought-resistant plants. This trend is influenced by a growing awareness of the impact of traditional gardening methods on the environment. Additionally, there is a shift towards smaller, urban gardens, as more people move to cities, leading to an increased demand for compact and space-saving gardening tools and equipment.
Trends in the market: In Europe, there is a growing demand for sustainable and eco-friendly lawn and garden products, leading to the rise of digital platforms that offer information and resources for environmentally-friendly gardening practices. This trend is significant as it reflects consumers' increasing concern for the environment and their willingness to make more conscious purchasing decisions. Industry stakeholders should continue to invest in and promote sustainable gardening solutions to meet this demand and stay ahead of competitors. This trajectory also has implications for the DIY and hardware store market, as retailers should adapt their product offerings and marketing strategies to cater to this growing trend.
Local special circumstances: In Europe, the Lawn & Garden Market within the DIY & Hardware Store Market is heavily influenced by the unique local factors. For example, the market in Nordic countries is driven by their cold climate, leading to a high demand for winterizing products and services. In Southern Europe, the market is more focused on outdoor living spaces, resulting in a greater demand for decorative and functional products. Additionally, regulatory factors such as restrictions on the use of certain chemicals or pesticides in some countries also play a significant role in shaping the market dynamics.
Underlying macroeconomic factors: The Lawn & Garden Market within the DIY & Hardware Store Market in Europe is influenced by various macroeconomic factors, including global economic trends, national economic health, fiscal policies, and financial indicators. For instance, in countries with favorable economic conditions, such as strong GDP growth and low unemployment rates, consumers are more likely to spend on home improvement and outdoor projects, leading to a boost in the Lawn & Garden Market. On the other hand, fluctuations in exchange rates and trade policies can impact the prices of raw materials used in lawn and garden products, ultimately affecting market performance. Moreover, changes in consumer purchasing power due to economic volatility can also impact the demand for DIY and hardware products, including those in the lawn and garden segment.
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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